Malls Go Online, Museum of Sneakers, Stitchfix Beats Estimates, Performance vs. Brand Tension, Amazon Go Trojan Horse
Covering commerce daily from Amazon to Zulily.
The biggest mall owner in the US is going online
The biggest mall owner in the U.S., Simon Property Group, is teaming up with online shopping company Rue La La's owner to launch a new kind of website. Simon has been testing a site in beta for the past few months.
It's been working with certain retailers at those centers — which include Woodbury Common Premium Outlets in New York — to test selling merchandise together on this site.
But the Indianapolis-based real estate owner is often considered the strongest in its peer group, with higher-rated properties in more sought-after locations that bring in more sales per square foot.
Amazon’s Grocery-Store Plan Moves Ahead With Los Angeles Leases
Amazon.com is pushing ahead with a plan to open a chain of U.S. grocery stores with early outposts in Los Angeles, Chicago and Philadelphia. Amazon.com Inc. is advancing a plan to open a chain of U.S. grocery stores with early outposts in Los Angeles, Chicago and Philadelphia, according to people familiar with the matter.
The first few stores are likely to be in the dense suburban locations of Woodland Hills and Studio City, while another grocer is slated for the city of Irvine, in nearby Orange County, a person familiar with the matter said.
A Pop-Up Museum Celebrating Sneaker Culture Is Opening in LA This Fall
You think you have a great sneaker collection? Wait till you see this one. On a private preview tour, Robb Report saw the work of Canadian mixed media sculptor Alice Smoluk, who currently has a nearly 10-foot-high sneaker installation made from recycled materials on display outside Paris’s Civic Center.
The museum also offers VIP memberships and season passes that will give enthusiasts insider access to private previews, artists, collaborators and special events.
Stitch Fix shares fall despite earnings beat, with 'softer' fiscal first quarter ahead
Stitch Fix's active client base grew 18% year over year, reaching 3.2 million people, the company said when it reported earnings after the bell on Tuesday.
Here's how Stitch Fix did during its fiscal fourth quarter compared with what analysts were expecting, based on data pulled from Refinitiv:
It says it continues to perfect its algorithms that take the wealth of data Stitch Fix has on shoppers' tastes to match them with clothing styles and brands they'll want to keep.
As digitally-native brands are spending more on brand marketing, they find they may have to manage tension between different members of their marketing team, as what’s best for the brand may not…
Styling service’s Stitch Fix’s CEO Katrina Lake, for example, described performance marketing in an earnings call earlier this year as the company’s “bread and butter.” But, earlier this year, Stitch Fix launched its first “integrated brand marketing campaign” — which the company said it spent $16 million on during its third quarter earnings on in June.
This process from purchase to delivery can take as long as two weeks, which might seem like an eternity for some shoppers in contrast to the one- and two-day shipping guarantees offered by Walmart and Amazon.
Infographic: Why Reviews Are Essential for Direct-to-Consumer Fashion Brands
According to research from ecommerce marketing platform Yotpo, nearly three-quarters of consumers identify reviews as a very important driver behind their purchase decisions.
He added, “If brands don’t provide these assets on their own site, shoppers will be compelled to leave to get the information they need, putting that purchase at significant risk.”
This chart shows why the holidays are becoming less important to retailers
Coresight Research said Tuesday that it's calling for a 4% increase in U.S. retail sales this November and December, which isn't as robust as some estimates already out there. Amazon 's Prime Day in July, for example, has led to more retailers like Target , Walmart and Kohl's offering steep discounts on toys, apparel and electronics during the summer, in a bid to stay competitive.
Inside SoulCycle's expansion to be a fashion brand – Glossy
As the worlds of fashion and fitness increasingly cross over, SoulCycle has been undergoing a major shift. Under the guidance of Caroline Gogolak, vp of retail, the company's expanded beyond a purveyor of spin classes to an activewear source.
According to Gogolak, who is prioritizing quick lead times and weekly products releases, the new Instagram feature is a perfect fit for the type of customer SoulCycle is trying to court.
“Our customers are emphasizing healthy living more than ever, and fitness is at the very center of that,” said Aaron Luo, co-founder of athletic brand Caraa, which has sold through SoulCycle’s sister company Equinox.
Amazon is in talks to bring its cashierless Go technology to airports and movie theaters
Amazon wants to popularize its Go cashierless checkout technology by retrofitting existing businesses with it. It's in talks with airport retailers, movie theaters, and stadiums. Amazon is in talks to bring the cashierless technology that runs its Go stores to other retailers like airport shops and movie theaters, according to people familiar with the matter.
During the company's early years, cofounder and CEO Tobias Lütke was so worried about finances that he struggled to sleep at night.
Shopify CEO and cofounder Tobias Lütke has one word to describe the responsibility of being a chief executive: "crushing."
"One thing I found about the entrepreneur journey, or at least mine, is that you basically exist in two different states," Lütke, who launched Shopify with his cofounders in 2006, told NPR .
Target Stock Soared Last Quarter. It’s in a Sweet Spot for More Gains.
Target stock hit the bull’s-eye in the third quarter, and has posted year-to-date gains that outpace the returns of Walmart and Amazon.com shares.
Target struggled in previous years, not only from the rise of Amazon.com (AMZN) and the growing influence of e-commerce, but from its own costly missteps, such as its botched entry to the Canadian market.
A number of things, including Target’s ability to deliver robust earnings this year, announce high-profile partnerships , and grow its grocery division while maintaining a focus on value that’s relevant to shoppers.
Why Do Tech Companies File So Many Weird, Alarming Patents?
Most of these patents are basically science fiction. Companies love them anyway.
The Prospect of the Supreme Court Taking on a Case About Domino’s Pizza Fills Me With Dread Why Mark Zuckerberg Said an Elizabeth Warren Presidency Would “Suck for Us” Yes, We’re in the Wrong Timeline The Last Hope for Net Neutrality
For example, in a 2014 paper in the Journal of Chemical Sciences , researchers wrote that “Dehydration reaction in gas phase has been carried out over solid acid catalysts,” citing a patent for proof.
Meet Triple Five Group: The real estate developers behind New Jersey's 'American Dream' mega mall
A sprawling 3 million square feet of indoor ski slopes, waterslides, roller coasters, chef-backed eateries and department stores is set to open, at least partially, to the public later this month. The project still under development in New Jersey is called American Dream. Triple Five Group is the real estate company pulling it all together.
Finally, the retail portion of American Dream is slated to open in March of next year, Triple Five Group says, along with the rest of the experiential aspects of the property, including a Legoland Discovery center, Kidzania, an observation wheel and movie theater.
The Seven-Year Auto Loan: America’s Middle Class Can’t Afford Its Cars
The availability of inexpensive debt on increasingly generous terms is supporting auto industry sales and profits. For consumers, it’s become a crutch to support their expectations.
That means monthly payments that last well past when the brake pads give out and potentially beyond when the car gets traded in for a new one.
About a third of auto loans for new vehicles taken in the first half of 2019 had terms of longer than six years, according to credit-reporting firm Experian PLC.