The Week In News, But Shorter

How L’Oréal Morphed Into a ‘Beauty Tech’ Company [WWD] Beauty companies should embrace technology as consumers expect tech-driven engagement, personalisation and solutions that solve specific problems, said Guive Balooch, a managing director at L’Oreal. An example is L’Oreal Paris Colorsonic, an innovative device that automatically mixes and deposits hair coloring formula at the roots.

Walmart launches immersive digital shopping experience [RetailDive] Joining other retailers in the virtual store trend, Walmart last week debuted its immersive shopping platform, dubbed Walmart Realm, according to Chief Marketing Officer William White. The immersive shopping experience lets consumers browse virtual environments and purchase products within them.

Michaels turns physical stores into omnichannel supply chain hubs [Chain Store Age] The Michaels Companies is leveraging its brick-and-mortar stores to fill digital orders. In a session at the recent Manhattan Associates Momentum 2024 conference in San Antonio, “Empowering Stores for Seamless Omni-Channel Success: A Deep Dive into Michaels’ Initiatives,” executives from the specialty arts and crafts retailer discussed how it seamlessly integrates online and offline channels.

Adam Neumann Gives Up on His Bid To Buy Back WeWork [CoStar] Adam Neumann, WeWork’s ousted chief executive, has given up on his bid to buy back the company he co-founded. This comes less than three weeks after signaling publicly his acquisition ambition wasn’t dead.

Should US Shopping Malls Include Gamification and Experiential Retail? [RetailWire] In response to the growing demand for experiential retail, ION Orchard has integrated gamification into its customer loyalty strategy. The prominent mall recently launched an augmented reality game, “World of Rewards,” within its mobile app. It offers shoppers the opportunity to win over 30 rewards by engaging with various participating retailers as they explore the mall.

Mall of America Exec Says Consumers Balance Shopping and Experience [PYMNTS] As convenience-seeking shoppers make more of their purchases online, malls are adapting to focus more on on-site, immersive experiences rather than just on the quality and variety of retail vendors. Jill Renslow, chief business development and marketing officer at Mall of America, said “it’s important” for shopping centers to “repurpose” the tenant mix as consumers’ expectations evolve.

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