TECHNOLOGY

Walmart launches Store No. 8 — but it’s not really a store
The nation’s largest retailer is delving deeper into e-commerce and evolving technology with its newest investment. Walmart has formed Store No. 8, a technology incubator that will be based in the Silicon Valley. (The new initiative is named after an early Walmart store that company founder Sam Walton used to try out new retail strategies.)
Warehouse club giant to roll out grocery delivery service
Costco Wholesale Corp. is making it easier for customers to shop for groceries. Shipt, a membership-based delivery service for online groceries, has partnered with Costco to deliver groceries orders placed by Costco customers directly to their homes. The service will launch initially in the Tampa area, with plans to expand to 50 markets and more than 30 million households by the end of the year. It is limited to grocery, and does not include apparel, furniture or electronic

How Can Retailers Thrive in Review-First Shopping?

Online reviews have boomed in recent years. Once just another step in the customer decision-making process, they are now a pervasive part of daily life.
Study: Consumers in rebellion against full prices

Shoppers are no longer willing to pay full price as deep discounts influence consumer behavior. That is one of the key findings of a new consumer report by First Insight, which found that widespread discounting by department stores and mass merchants is significantly influencing the expectations of discounts when consumers shop in other product categories.
Menswear retailer to focus on marketing, digital in 2017

Destination XL Group is slowing store growth to invest in e-commerce and enhanced marketing that includes a return to television advertising. The retailer of big and tall men’s clothing on Monday reported better-than-expected net income of $1.8 million for the quarter, after reporting a loss of $1.4 million in the year-ago period. Total sales for the quarter were reported as $122.6 million, down slightly from $124.0 million in the prior-year quarter. Same-store sales fell 2.4%.
Report: Retail will look dramatically different by 2030

Converging channels, customization and constant connectivity are expected to change the shopping sector in the years ahead. That is the main theme of a new study by Synchrony Financial, which examines consumer perspectives and shopping trends that are expected to change the retail industry by 2030. “The future of retail will look dramatically different in 2030 than it does today,” said Whit Goodrich, CMO retail card, Synchrony Financial.
RetailNext: Stores not dead but do need to be reinvented

Despite the growth of online shopping, brick and mortar stores are still critical to retail success. “Retail stores are not dead,” said Shelley E. Kohan, VP of retail consulting at RetailNext Inc. “The retailers who continue to embrace change in their business models will be well positioned for today and in the future."
Grocery giant partners with Uber to expand home delivery

The Kroger Co. is testing a solution to solve “the last mile” of omnichannel retail — the post-purchase operations focused on getting merchandise into shoppers’ hands quickly and efficiently.
Gifting retailer unloads product line, but gains new business partner

1-800-Flowers.com’s latest business move puts the company in a strategic position to more cost-effectively expand its assortment. The gifting retailer said Wednesday that Ferrero International S.A will acquire the company’s Fannie May Confections Brands, including its subsidiaries Fannie May Confections and Harry London Candies.
Report: Retailers are running in place when it comes to IoT

Retailers remain stuck when it comes to Internet of Things (IoT) initiatives, according to “The Internet of Things in Retail: Getting Beyond the Hype.” The second annual report from RSR shows that retailers are increasingly aware of the impact of IoT on customer engagement and competitive advantage. Yet, they are still hesitant to invest in cutting edge technologies due to operational challenges and a lack of supporting infrastructure.