Rent the Runway's launch of its Unlimited subscription program is driving change at the fashion rental site's brick-and-mortar stores. The stores, designed to be showrooms for fashions, are morphing into pickup and drop-off hubs for subscribers, said Hampton Catlin, senior director of engineering.
The Indian government's reluctance to embrace foreign ownership of multi-brand retail operations has held Walmart back from growing in the country, where it runs 21 wholesale stores but no retail outlets. Rules established in 2011 allow for 51% foreign direct ownership, but few major international retailers have opted to take this path.
Winser London CEO Kim Winser revived struggling fashion retailer Pringle before concentrating on her namesake brand in 2012. At both companies, the key to success has been bringing together experienced older employees with energetic young staffers, she said.
The retail store of 2020 will integrate augmented reality, artificial intelligence, robotics, big data and other tech tools to create a brand-new shopping experience, said Cristina Ceresoli, NRF's senior vice president for retail strategy. NRF expects the changing trends and focus on technology to create new and innovative jobs, she said.
Snap content execs Sean Mills and Nick Bell discuss the overwhelming negative reaction from Snapchat users to the app's new design, which has been rolled out in markets including the UK, Canada and Australia. "[P]eople don't like change. We're certainly listening to our community, as we always do," Bell said.
Looking to expand further into Southeast Asia, Chinese e-commerce company JD.com has invested in Tiki.vn, a Vietnamese online retailer. The undisclosed investment amount will make JD.com one of the largest shareholders in the company, enabling it to compete in a region where Amazon and Alibaba are also investing.
The in-store retail experience is changing quickly along with innovations in technology, and retailers need to be open to change and risk-taking, panelists at Retail's Big Show said. Tech companies serving retailers need to understand each retailer's unique qualities, said Hershey Co. executive Brian Kavanagh.
An improved economy has buoyed consumer confidence and shoppers are likely to meet or beat the 4.2% sales growth retailers booked in 2017, according to panelists at Retail's Big Show. "We had a confluence of strong job growth, we had a pick up in income, we saw home values also increase, and stock prices," said NRF Chief Economist Jack Kleinhenz.
Retail convergence was on display at Retail's Big Show this week, from the rise of online and mobile retail to the challenges that come with personalizing the experience and serving the omnichannel shopper.
Actress and model Brooke Shields has created a fashion line for QVC dubbed Brook Shields Timeless that will launch in previews next month and go on sale in March. The collection of separates is designed for women seeking approachable sophistication, said QVC Chief Merchandising Officer Doug Howe.
- Page 1