RetailX News Notes August 2020
Check out what we are reading this month because it's new, exciting or just darn interesting.
Have you heard about the latest concept from Kmart, Kmart Hub?
The conversion from Target stores to Kmart hubs is underway and it's not what you'd expect.
I bet you all get asked as retailers, ‘What’s going to change in the next 10 years?’ And that is a very interesting question. It’s also a very common one. What about, ‘What’s NOT going to change in the next 10 years?’ That second question is actually more important. This Forbes article explores consumer psychology as the only constant changing in retail. Read more
Desperate to go on that holiday? Check out IKEA’S latest innovation “Vacations in a box” and how it is emotionally engaging customers around the world.
All about discovery
Do you want to see what social retail is all about?
Check out what Burberry is doing in China.
Simple, easy, authentic. Discovery platform. A new concept in the US call The Pop-Up Grocer is becoming a sought after destination for customer and retailers to explore new and emerging products Read more
John Lewis is planning to turn retail space it no longer needs into affordable housing as part of a strategic review of the partnership. It said it was talking to third parties about "mixed-use affordable housing". Read more
If you cut prices 20%, you have to sell 25% more units just to maintain revenue. In a severe downturn, how likely is that? And if a competitor matches your price cut, the pain will be much worse. This article from Fortune explores why price cuts in an economic downturn is risky and what you should do.
Are you about to slash even more costs out of the business in order to keep the business going? This article from McKinsey & Co explores why innovation in a crisis is more critical than ever. Read more