Every month, I’ll be recapping the biggest stories in retail that resonated with me, as well as recap who’s coming (opening, remodeling or expanding their presence) and who’s going (closing).
Prime Day 2018
After a rocky start with website outages, Amazon announced 2018 Prime Day was their largest event ever, with over 100 million items sold. Prime Day also boosted the sales at other retailers, including Target. With Prime Day creating a shopping event that rivals Black Friday in prominence, there are industry wide shifts taking place.
Prime Day Results -https://www.cnbc.com/2018/07/17/amazon-announces-2018-prime-day-results.html
How Target Won on Prime Day - https://www.investors.com/news/target-one-day-sale-amazon-prime-day/
Prime Day and the Effect on Back to School Season - https://www.marketwatch.com/story/thanks-to-amazon-prime-day-the-back-to-school-shopping-season-is-already-under-way-2018-07-05
Capitalizing on Toys ‘R Us’s demise, retailers are seeing new opportunities
Toys ‘R Us officially closed in June. Retailers are strategically making investments to capitalize and win their market share.
Party City to open 50 “Toy City” popups this holiday season - https://www.usatoday.com/story/money/2018/06/25/party-city-toy-city/730534002/
Amazon to start producing Holiday Toy Catalog - https://www.cnbc.com/2018/07/05/amazon-plans-holiday-toy-catalog-mimicking-traditional-retailers.html
Wal-Mart invests in its’ baby business - https://www.cnbc.com/2018/07/25/walmart-makes-a-bigger-bet-on-baby-after-babies-r-us-failed.html
Build-a-Bear “Pay Your Age” Promotion
“Pay Your Age” Day was either a resounding success or colossal failure, depending on your point of view . Lines were so long, customers were turned away with vouchers for another day. However, every media outlet was talking about it, so they definitely got attention.
Build-a-Bear "Pay Your Age" promotion shut down - http://time.com/money/5337287/build-a-bear-pay-your-age-shut-down/
Comings and Goings
Abercrombie & Fitch goes to college – retailer is piloting a small format store on college campuses. - https://www.retailwire.com/discussion/abercrombie-fitch-goes-to-college-with-a-new-store-concept%e2%80%a8/
Nike opens digital-led flagship location – Nike unveils new store concept, which uses data & technology to produce an in-store experience, designed for local tastes. - https://www.chainstoreage.com/real-estate/first-look-nikes-new-store-concept-uses-digital-user-data-to-curate-merchandise/
Last Sears’ in Chicago Closes – hometown retailer has closed all stores in Chicago, but a handful remain in the suburbs - http://www.chicagotribune.com/business/ct-biz-sears-last-chicago-store-0714-story.html
What did I miss this month? Any retail news or trends super impactful to you? Next month, we'll have a review of Back to School, as well as whatever else happens. Feel free to leave suggestions in the comments.
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