Under Armour will take over the former FAO Schwarz Fifth Avenue flagship in New York to open its own 53,000-square-foot flagship there in about two years, CEO Kevin Plank said. The athletic wear retailer will also start selling its wares at Kohl's stores next year, after Sports Authority's bankruptcy caused Under Armour to lower its revenue forecast.
LVMH Moet Hennessy Louis Vuitton has seen falling sales from Asian and American tourists who have been driven away from Europe due to recent terrorism events, but the retailer is still seeing strong results from its Hennessy cognac products in China, its Sephora stores and Louis Vuitton customers in the US.
Apple, Starbucks, eBay, Barnes & Noble and Nike were named as the top five most powerful retail brands, according to a report from Tenet. The rankings looked at brands from industries including consumer goods, technology, restaurants and electronics, in addition to retail.
Sears Canada announced Monday that President Carrie Kirkman will leave her position in August, but she could still work with the company as a brand development advisor. Kirkman was hired in November to increase sales by targeting older and younger moms.
Amazon is expanding its Prime service to 100 cities in India, offering shoppers one- and two-day delivery on Prime merchandise. Indian customers can get two-month free trials and a discount on the service for a limited time, and Amazon also has plans to launch its Prime Video service in the country.
Walmart.com receives the second-highest amount of e-commerce traffic, surpassing retailers like Amazon and eBay due in large part to personalization efforts, according to Brian Monahan, Walmart.com's former marketing vice president. "I've witnessed first-hand the power of personalized marketing to really drive a business at scale. We grew sales by a couple of billion dollars powered by personalized marketing. It works," he said.
Selfridges has created a social media shopping app meant to provide a more personalized and engaging experience for customers. Among the app's features is the ability to browse the retailer's selection through Instagram.
Sean Selby of architecture and design firm Arrowstreet has worked with retailers including Target to create spaces that are fun for consumers, especially as online retail sales continues to rise. "The thing that never changes, the number one rule of retail, is that it's always about the customer experience," Selby said.
Brands including Nike and Adidas have already entered the realm of connected clothing, and while the technology hasn't quite been perfected, it offers retailers the opportunity to deliver personalized experiences and protect brand integrity, Andy Hobsbawm writes. However, there is still work to be done when it comes to managing customer data, he adds.
Struggling retailers across Hong Kong are cashing in on "Pokemon Go" by hosting events designed to bring players into their stores. "We expect to see a double digit growth in our traffic and an 8-10% leap in retail sales during the "Pokemon Go" event period," said Sun Hung Kai Development director Maureen Fung.
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