Category Archives: Business/Economy

Retailers Announce Almost 6,000 Closures — CNN Business

Retailers have announced close to 6,000 planned store closures in 2019: “Bankruptcies in the retail sector are piling up and chains have aggressively closed under-performing stores. That has led to an uptick in store closures this year.” P.S. In a volatile industry, suppliers and retailers alike have to stay competitive. Optimizing your processes is one way to stay on top of things. Schedule a consultation with one of our experts today.

Read More

Forecasting a Major Concern for Retailers — RetailDive.com

Retailers believe that poor inventory forecasting harms their business: “It also found that 87% of respondents consider inaccurate inventory a larger factor in revenue loss than theft. The survey has a sample size of 100, a margin of error of 9.8% and was conducted online.” P.S. Walmart is proactive in this area by offering forecasting tools to suppliers. Our course can teach you how to optimize these tools. Sign up today!

Read More

Consumers and Changing Brand Attitudes — RetailWire

Why are consumers dropping long-held loyalties to legacy brands? The answers are complicated: “Other factors competing for customer affection with the nostalgia-legacy factor have multiplied in recent years: concerns about a company’s politics and ethical behavior, its policies on environment concerns and child labor, or the sourcing and composition of ingredients.” P.S. Well-known brands can’t rest on their laurels. Have you conducted a brand review lately? How about other aspects of your operations? Our experts can help you improve your...

Read More

Walmart Plans Polymorph Labs Tech and Assets Acquisition — Walmart.com

Walmart announced its plans to acquire the assets and technology of Polymorph Labs in hopes of enhancing Walmart’s in-house ads technology: “Today, we’re excited to announce our plans to acquire technology and assets of Polymorph Labs, a Silicon Valley-based advertising startup that will help take our advertising business to the next level.“ P.S. This is another tech-based acquisition that demonstrates Walmart’s commitment to dominating online and offline marketing and sales. Learn how you can keep up with omnichannel changes in...

Read More

Amazon Go to Start Accepting Cash — CNBC.com

Amazon Go stores will start accepting cash in the wake of controversy over whether cashless stores are “elitist”: “In an internal all-hands meeting last month, Steve Kessel, Amazon’s senior vice president of physical stores, told employees that the company plans ‘additional payment mechanisms’ at its Go stores. Kessel was responding to a question about how Amazon plans to address ‘discrimination and elitism’ at the cashierless stores, which charge purchases using an app connected to a bank or credit card.” P.S....

Read More

Consumer Prices Rose in March — Reuters

The U.S. Department of Labor reports that Consumer Price Index rose in March of 2019: “The Labor Department said its Consumer Price Index rose 0.4 percent, boosted by increases in the costs of food, gasoline and rents. That was the biggest advance since January 2018 and followed a 0.2 percent gain in February.” P.S. Walmart and other retailers have made it clear that low prices are a priority. What are you doing to control costs while also meeting Walmart’s expectations?...

Read More

Walmart’s Sustainability Goals — Walmart.com

Walmart has some exciting news from its recent sustainability summit, including progress on Project Gigaton and new reusable shopping bags: “Retailer will provide more convenient access to reusable bags for purchase at U.S. stores and continues to make progress towards its goals to work with suppliers to avoid greenhouse gas emissions across global value chains” P.S. Walmart is serious about sustainability. Our experts can offer guidance that allows you to improve your relationship with your Walmart buyer and develop more...

Read More

Target Raises Entry-Level Wages — Motley Fool

Target is raising entry-level wages for its store associates, a move that could put pressure on Walmart to do the same: “The two companies have taken steps to become places people want to work. These steps include offering more training, improving benefits, and paying more per hour. Now, however, Target has upped the ante by increasing its entry-level pay to $2 more per hour than the $11 minimum wage Walmart pays.” P.S. Keen retail competition means that some costs of...

Read More

Gen Z Loves Brick & Mortar — Mediapost.com

Gen-Z shoppers enjoy the brick & mortar shopping experience: “Gen Z are ‘more traditional shoppers than millennials,’ said Katherine Cullen, director of retail and consumer insights for NRF.  ‘They are killing the idea that online and offline are separate. They’re really intertwining the digital and physical worlds and balancing digital experience with what they expect in the physical environment.’” P.S. Speaking of Gen-Z, you may well have some interns and new graduates working for you this summer. Our Supplier Boot...

Read More

Preventing Supply Chain Disruptions — Forbes.com

A writer takes aim at supply chains and the things that plague them: “In today’s global economy, supply chains include all the people, systems, vendors, suppliers and processes involved in designing, making, selling, inventorying, shipping and delivering a product. The ever-growing complexity of getting products to an ever-expanding pool of potential consumers over multiple platforms requires ever-innovative supply chain management to maintain robust, agile systems, identify current issues and anticipate future ones.” P.S. Our Replenishment & Supply Chain courses can...

Read More