Target Corporation has appointed former PepsiCo executive Brian Cornell as Chairman of the Board of Directors and CEO, effective August 12. In his role, Cornell will lead the company’s mission for omnichannel advancement.
Cornell has more than 30 years of retail and consumer goods experience, including time as President and CEO of Sam’s Club, CEO of Michaels Stores, Inc. and EVP and Chief Marketing Office for Safeway. Most recently, he served as CEO of PepsiCo Americas Food, where he oversaw the company’s global food business.
Continue reading “Target Names PepsiCo Alum As Chairman And CEO”
The National Retail Federation (NRF) has named Art Potash, owner of Potash Markets in Chicago, America’s Retail Champion of the Year during the organization’s Retail Advocates Summit.
NRF launched the America’s Retail Champion program in 2014 to honor retail executives who have played a significant role in public policy debates and decisions. A total of 44 nominees were selected based on their efforts to address the retail industry’s top issues. Some of the primary issues challenging the retail industry on a federal policy level include: online sales tax collection, credit and debit card swipe fees and patent reform.
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Back-to-school shoppers in the U.S. started their research earlier than expected in 2014, according to a report from Bazaarvoice.
Although consumers indicated in an earlier Google/Ipsos study that they would begin their back-to-school research by mid- to late July and start purchasing in early to mid-August, customer-authored reviews and product Q&As revealed that the research instead peaked during July 1-10.
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In 2014, at least 52% of all retail sales will either occur online or be influenced by the online channel. Forward-thinking retailers like PC Connection are implementing a centralized system to manage their product information across their brick-and-mortar and online operations.
A best-in-class Product Information Management System (PIM) serves as a central product repository that handles all the tasks that a traditional e-Commerce or ERP system can handle and much more. With PIM in place, PC Connection was able to reduce new product introduction time by 80%.
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Taking a strategic approach to location performance measurement can reap big rewards by boosting sales and increasing customer satisfaction. Retailers must strive to understand shopper behavior in each department, including when they visit, how long they stay and what they do after visiting specific locations, information vital to defining and quantifying the desired customer experience. This data can help to determine performance at the departmental, brand or end-cap level – affecting customer experience and retail success.
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As the summer season nears the end, families will venture home from their vacations and head straight to the stores for their annual back-to-school shopping spree.
In 2014, families are expected to spend more on school supplies compared to last year. The average family with children in grades K-12 will spend $669.28 on apparel, shoes, supplies and electronics, up 5% from 2013, according to the National Retail Federation (NRF).
The NRF 2014 Back-To-School Survey, which was conducted by Prosper Insights & Analytics, indicated that total spending for back-to-school and back-to-college shoppers will reach $74.9 billion this year.
Continue reading “Back-To-School Spend Trends: Sales, Social Media And Starting Early”
The National Retail Federation (NRF) has launched the Small Business Retail Council to represent and respond to the interests of small regional and local independent retailers.
The committee will identify concerns, develop strategies and solutions, and promote and organize grassroots advocacy. The Council also will serve as a forum for NRF’s small business members to discuss issues and priorities.
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Market6, a SaaS-based retail analytics applications provider, has named CPG exec Jerry Stephens as Vice President of Kroger Business.
Stephens joins Market6 with 15 years of experience in the consumer goods industry, including senior business development and account management positions at MillerCoors, The Clorox Company and Procter & Gamble. Most recently Stephens oversaw the Kroger account team for Dr. Pepper Snapple Group (DPGS), where he supervised all areas of sales, business development and strategic account planning. Under his management, the team saw record profits and share growth.
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E-Commerce platform MarketLive has integrated Login and Pay with Amazon to facilitate the login and checkout process. The integration will be available for all MarketLive merchants in Q3 2014.
The addition of Login and Pay with Amazon enables shoppers on MarketLive merchant sites to quickly access their Amazon account and select their Amazon shipping and payment information. This function can improve conversion rates by providing shoppers with minimal data entry points, rapid checkout and ease of use across devices.
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In the 25th annual Retail Theft Survey by Jack L. Hayes International, data revealed that in 2012 1,145,688 shoplifters and dishonest employees were apprehended, up 7.3% from 2011. In fact, 71,095 dishonest employees were apprehended in 2012, up 5.5% from 2011 and more than $50 million was recovered from these apprehensions, up 7.0% from 2011. Essentially, one in every 40 employees was apprehended for theft from their employer in 2012 (based on over 2.8 million employees).
The number one way to combat these theft issues is to ultimately make better hiring decisions. Organizations can purchase all of the security cameras, product tags, in-store loss prevention officers and alarm systems they want — but at the end of the day, it’s the quality of the people representing their brand that are going to directly impact these changes.
Continue reading “Reduce Retail Theft By Hiring Smarter”