Foursquare's recent terms-of-service change makes the location-based social network a more attractive brand proposition because it gives companies more access to customer data, Jennifer Nedeau writes. Location-specific user data can help businesses make savvy marketing choices, she writes. "The added access to audience information creates a greater reason to advertise on Foursquare to ensure that updates or deals from your venue show up prominently in user feeds," Nedeau writes.
In his keynote address at Retail's BIG Show, NRF President and CEO Matthew Shay tallied the successes of 2012 -- which included signing 1,000 new members and the "Retail Means Jobs" campaign -- before setting his sights on the year ahead. "We're going to be telling the bigger story about our industry and what all of you do."
Saks Fifth Avenue CEO Stephen Sadove succeeded Macy's CEO Terry Lundgren as the new chairman of the NRF board of directors. Also at Retail's BIG Show on Sunday, HSN CEO Mindy Grossman was elected chairman of the nonprofit NRF Foundation. “With over three decades of retail experience, Mindy is a perfect example of the opportunities that exist within our industry,” said executive director Ellen Davis.
There's a real attraction to purchasing the rights to a nostalgic brand in bankruptcy, but not all can be revived easily. "When you're buying a company that's in bankruptcy, you're sitting across from people who screwed up," says Stephen Heese, whose investment firm is working on reviving Chris-Craft, a luxury boat manufacturer. "They're not dumb -- they just got one thing wrong."
Retailers need to jump into the political fray if there's a hope of trading the current Washington gridlock for "authentic leadership," Starbucks CEO Howard Schultz said Monday in an impassioned speech at Retail's BIG Show. "The greatest threat to our businesses is the fracturing of the middle class,” he said.