News

By Ken Nisch, JGA

By Gary Ambrosino, TimeTrade Systems

Retailers are bending over backwards to meet the growing demands of today’s ever-connected consumer; however, most are still coming up short. The traditional rinse-and-repeat practices — slashing prices, offering free shipping and promoting exclusive products — aren’t winning over fickle consumers or helping gain a leg up on the competition.

Uniqlo has transformed the second floor of it Fifth Avenue flagship to celebrate the launch of the retailer’s SPRZ NY collection, done in collaboration with the Museum of Modern Art. The renovated floor includes the addition of a full-service Starbucks, a first for Uniqlo.

Hoffman Estates, Ill. -- Sears Holdings Corporation completed its spin-off of Lands' End Inc. on April 4. The specialty apparel company has now been separated from Sears Holdings and its common stock is expected to begin regular-way trading on the Nasdaq Capital Market under the symbol "LE" on April 7.

Mumbai, India – Leading Indian political party Bharatiya Janata Party (BJP) said in its official election manifesto that it will ban all foreign direct investment into the Indian supermarket sector if it wins a majority stake in the upcoming parliamentary election. BJP is widely expected to take majority control of parliament and the prime minister seat in India’s May 2014 elections.

Boston -- Berkshire Partners LLC, the Boston-based investment firm, and Glen T. Senk, a New York-based retail and consumer executive, are partnering to co-invest in innovative, high-growth retail and consumer businesses. Berkshire Partners has initially committed $350 million to future investments alongside Senk and his newly formed firm, Front Row Partners LLC, where he serves as chairman and CEO.

Menomonee Falls, Wis. -- Kohl’s Department Stores has debuted its new brand campaign, based on the word “Yes.” A 60-second commercial, featuring designer Vera Wang, unveils the “Yes” campaign using striking visuals and artists’ renderings of the letters “Y,” “E,” and “S.”

Los Altos, Calif. -- Shoppers using the Catalog Spreee iPad app read 60% more catalogs and viewed 39% more catalog pages when compared year-over-year (first quarter 2014, compared to first quarter 2013). In addition, Catalog Spree’s new quarterly iPad Shopping Trends Report indicates half of all shoppers visited a retailer's website directly from the app to view further product details.

Mountain View, Calif. -- Coupons.com Inc. has released updates to the Coupons.com website and the Coupons.com mobile apps with a service that lets consumers add coupons directly to payment cards. Using the Coupons.com website or Coupons.com mobile apps for iOS and Android, shoppers can add digital coupons to their credit or debit cards from Visa, MasterCard or American Express for automatic redemption at checkout.

New York – While a majority of the most popular prepaid debit cards charge monthly fees, specific fee structures vary widely. According to a study of 30 of the most widely held prepaid debit cards conducted by Bankrate.com, 83% of the prepaid cards surveyed charge monthly fees, but 33% will waive them, typically based upon the amount loaded onto the card.