| Smaller footprint stores continue to be a trend, and one we hope property owners are taking into consideration. Macy’s Inc—the corporate parent of Macy’s, Bloomingdale’s and Blue Mercury—has seen positive outcomes from its smaller Bloomie’s and Market by Macy’s stores, which outperform their larger counterparts. We’ve seen this from several other brands in the past year+ and we expect it to continue and encourage our clients to seek alternative forms of GLA. While traditional department stores still have a place in the retail ecosystem, many of these spaces stand empty and instead of holding out hope for a replacement, consider how else to use the space (as a warehouse/last-mile fulfillment center perhaps?) and think about how you might engage with big brands even if you don’t have the space you typically associate them with wanting.
Oh by the way, we are reporting today from Peru! We are here for the Seminarium Perú Retail 2023 conference, where David will be speaking, and excited to be a part of the conversation – we’ll report back! In the meantime, check out the rest of the news below and find us on Twitter or LinkedIn to share your thoughts. |
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| Can home shopping become cool? Qurate CEO David Rawlinson wants to bring QVC and HSN into the streaming era [Fortune] Almost two years into his rein as CEO of Qurate Retail — parent company of QVC and HSN — David Rawlinson is tapping streaming to modernize the two shopping networks. Rawlinson has hired a former Amazon Prime Video executive to bring to life his forecast of growth in social media and live streaming video commerce featuring influencers, product demonstrations and personalized customer connections.
Walmart launches accelerator program for Web3 startups [RetailDive] Walmart’s startup incubator, Store No.8, has teamed up with Outlier Ventures, a Web3 investment firm and accelerator, to launch the Store No.8 dCommerce Base Camp accelerator. The accelerator seeks a cohort of startups that are building Web3 tools to improve the retail and commerce experience. |
| TikTok Eyes $20 Billion Commerce Business Despite US Setback [Bloomberg] ByteDance Ltd.’s TikTok aims to more than quadruple the size of its global e-commerce business to as much as $20 billion in merchandise sales this year, banking on rapid growth in Southeast Asia. TikTok is working to expand sales in the US and Europe too, though those markets make up a small portion of the $20 billion goal, the people said.
How Generative AI Is Reinventing Retail [Chain Store Age] There is a lot of global interest in generative AI these days. And for good reason. Generative AI is already creating countless new opportunities for retailers and consumer brands. It represents a step change in capability because it’s both incredibly powerful and incredibly flexible. And it’s that adaptability that will help leaders reinvent the way they run their businesses, serve their customers, and get work done. |
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| Micro & Last Mile Fulfillment |
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| Walmart has tripled its last-mile delivery driver roster this year [Winsight Grocery Business] In the last year, Walmart has tripled the number of last-mile drivers on its Spark Driver local delivery service platform. When Spark Driver began, Walmart provided grocery delivery from 800 stores. Today, the retailer has delivery services from more than 4,000 stores. |
| Last-mile delivery start-up Fin raising funds for carbon-zero logistics [SkyNews] A British carbon-zero delivery start-up co-founded by a former Google executive is in talks to secure millions of pounds to fuel its expansion. Fin uses micro-fulfilment hubs, e-cargo bikes and other carbon-neutral vehicles to deliver parcels. |
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| Logistics providers bet on tech to improve warehouse efficiency [SupplyChainDive] Companies such as Maersk, DHL and SEKO Logistics have piloted new technologies over the past year. Here are 10 stories that show how. |
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| Restaurants & Ghost Kitchens |
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| Starbucks inks deal with CloudKitchens as the coffee giant expands delivery through DoorDash [Insider] Starbucks is working with CloudKitchens, the ghost kitchen company run by Uber founder Travis Kalanick, as they broaden delivery outside of its traditional stores. Mobile ordering and delivery have boosted Starbucks’ bottom line and have become an incremental and growing part of the business. |
| Dunkin’ Taps HubKonnect’s AI as QSRs Get Hyper-Specific With Marketing [PYMNTS] Marketing technology company HubKonnect, which leverages local data to improve stores’ performance based on factors specific to each location, announced a partnership with the quick-service restaurant (QSR) company, Dunkin’. |
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| The Global Brands Coming to a Shopping Mall Near You [The Wall Street Journal] American consumers have long been renowned for their spending power. Now global retailers want a bigger slice of the action. Once wary of America, foreign fashion brands such as Mango, Uniqlo and Zara are joining retail giants including Lego and IKEA in pursuing major U.S. expansions.
New York City Has Lost Tens of Thousands of Retail Jobs, Report Finds [The New York Times] The retail industry in New York City has shed thousands of jobs since the pandemic, even as the rest of the job market has almost fully recovered, according to a new report released on Thursday from the Center for an Urban Future, a public policy think tank. |
| Bloomie’s Is How Bloomingdale’s Can Shrink Itself To Growth [Forbes] Against a backdrop of store closures, the company sees green shoots for growth: smaller stores. CEO Jeff Gennette announced plans this year to open more mini-versions of its super-sized department stores, specifically four new Market by Macy’s stores to add to the existing new Bloomie’s stores already going.
Six out of 10 Americans are rooting for a mall comeback [Chain Store Age] The American mall appeared to have been one of the most aggrieved victims of the COVID-19 pandemic. Now a new survey indicates it could prove one of its most victorious survivors.
We asked 1,005 Americans if they wished that their malls would experience revivals and 61% responded in the affirmative. |
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