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Trader Joe’s has been selling bananas for 19 cents each – for the past two decades. The grocery store offers remarkably fewer options for customers compared to other major supermarkets, and it’s consistently ranked highest for customer satisfaction.
According to the National Retail Federation, retail shrink reached $94.5 billion in 2021, as compared to $90.8 billion in 2020. Shrink refers to inventory losses due to theft, unknown loss and administrative error.
What defines the new consumer and what are the new consumer values? In a new world where the consumer is the retail driver, what does this mean for shopping malls?
The future of retail in the metaverse will be linked to an immersive and interactive shopping experience. Taobao is launching a live streaming shopping experience in the metaverse with immersive world in virtual AR and VR. - From 3DArt Channel
A new report, 'Tech in 2030', GlobalData looks at the future of retail and finds that retail in 2030 will be about the customer. Personalization and convenience will drive conscious spending and curated examples. -from GlobalData Trends & Insight
If we are going to understand the disruptive future of retail, there are 3 myths that we need to dispel away. - From Mike Walsh YouTube Channel
The National Retail Federation’s annual 2022 survey found that the average shrink rate — an industry term for lost inventory — was 1.4%. That translates to nearly $95 billion in losses. - From Scripps News
Millard Drexler, Alex Mill CEO and Proprietor, discusses the big issues in the retail and why he believes the market is not calming down. - From Bloomberg Television
CNET looks at how technology is shaping the future of shopping at NRF 2023 expo in New York. Advancements in image recognition, combined with artificial intelligence, are keeping an eye on both the products and customers. - From CNET
At $67.2 billion, the sporting goods industry became one of the fastest-growing industries in the U.S. in 2022. Dick’s Sporting Goods controls an estimated 14.2% of that market, the most of any company.
This early stage project uses low-cost RFID chips and scanners, and a novel use of blockchain, to tackle theft of powered products in a way that is virtually invisible to retail customers. - From Lowe's Innovation Labs
Bed Bath & Beyond recently warned it may be filing for bankruptcy in just a few weeks. WSJ’s Suzanne Kapner explains the roller coaster of events over the past six months that led to this low point for the company.
The quantity and quality of counterfeit sneakers has never been greater. As online sales boom, many buyers are deliberately choosing the steal over the real.
Customer returns are skyrocketing in the U.S., but many items don’t go back to retailers’ shelves. WSJ looks into the complicated process and how retailers are responding to increasing returns.
When will soaring inflation finally come to an end? Economists weigh what's ahead and provide their valuable insights into what's in store for 2023.
U.S. regulators say Wells Fargo has repeatedly misled and overcharged its customers. These allegations have rocked the 170-year-old bank, which still stands as one of the largest lenders in the U.S.
Nearly a year after CEO Mark Zuckerberg announced the rebranding of Facebook as Meta and a shift in strategy to focus on the metaverse, internal documents show the company falling short of its goals.
If it seems like there are more sales lately, it’s because there are. General retailers are shedding excess inventory. Why? Just blame the bullwhip effect.
Target's first and only foray into international markets happened in 2013 in Canada. The retailer opened a total of 133 stores in just over a year. But the expansion didn't go as planned.
With severe wildfires, hurricanes and other natural disasters becoming more commonplace, current technologies that alert people to impending danger sometimes fall short.
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“Live as if you were to die tomorrow. Learn as if you were to live forever.” – Mahatma Gandhi
Continuing our global journey to learn something new, our next stop is the Taj Mahal in India. This UNESCO World Heritage building was actually a mausoleum commissioned in 1632 by Mughal emperor Shah Jahan to house the remains of his late wife Mumtaz Mahal.
Indian, Persian, and Islamic architecture influenced the construction. Its white marble façade, which seems to change color according to the time of day, is a masterpiece symbol of love.
Constructions took 20 years and involved 20,000 workers, and the mausoleum houses both the emperor and his wife. 1000 elephants were used to haul the construction material to Agra, where it is located.
Inside the Taj Mahal, you will find beautiful flowers such as tulips, lilies, irises, poppies, and narcissus inlaid into the walls with 28 different types of precious and colorful stones. The cost of this perfectly symmetrical building in today’s dollars would be $1 billion.
Of all my travels around the world, this visit to the Taj carries special memories. After important customer meetings in New Delhi with retailers, the local team organized a trip to this unique location. The visit coincided with my birthday, and the hotel recognized this as I was checking out. While I was getting into the private transportation to visit the Taj Mahal, two hotel employees rushed out and handed me a dozen roses and a bottle of champagne. Every year for a long time, this same hotel also sent me birthday wishes. I wish I had kept the hotel’s name as I would mention them in this article.
Life is a great adventure if you do indeed live like you are dying tomorrow and learn something new continuously as if you were going to live forever. It’s one small beautiful world of potential ideas to explore to their next level starting now.
Deloitte Tech Trends 2023
Deloitte’s 14th annual Tech Trends report explores the impact of emerging technologies on groundbreaking innovations and foundational business areas. Stories of pioneering organizations show what’s happening now, describe what’s new, and project what could be coming next. - From Deloitte Insights Read more
The World's Largest Data Breaches
Data loss and data breaches seem to be cropping up everywhere. It’s time to be vigilant and double down on our cybersecurity efforts. Learn more about how and where the world’s largest data breaches are happening in the following infographic. - From Infographic Journal
The SVB Collapse Fallout: Stock Selloffs, Inflation Challenges and More | WSJ
Silicon Valley Bank’s swift collapse prompted regulators to implement a series of emergency measures to stem the fallout and shore up wavering confidence in the banking system. Read more
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