Because many consumers may still be smarting from last month’s 3.2% bump in inflation, they appear to be reluctant to shop for retail items. What can merchants do to woo hesitant shoppers back into their stores and web domains? One answer might lie in data reflecting buying patterns...
The National Retail Federation (NRF) expects retail sales to grow between 2.5% and 3.5% in 2024. That forecast is in line with the 2023 annual sales growth and the 10-year pre-pandemic average annual sales growth — both of which were 3.6%, the trade association said in a...
An expected post-pandemic resurgence in engagements may be delayed by today’s economic conditions. High inflation and an uncertain labor market could lead couples to put off getting married, Gina Drosos, CEO of Signet Jewelers, the owner of Kay Jewelers and Zales, told Bloomberg in a report posted Wednesday (March 20). Drosos said...
French luxury house Hermès faces an antitrust lawsuit in California around its Birkin handbags. The suit alleges that Hermès violates antitrust law by “tying” the sale of one item to that of another, as its associates push customers to buy other products to get an...
As financial pressures prompt consumers to make difficult decisions about what they can afford when it comes to luxuries such as diamonds, Signet Jewelers is seeing increased demand for assistance and consultation. The retailer, owner of Kay Jewelers, Zales and Jared, shared on a call with analysts Wednesday (March 20) discussing...
The U.S. retail industry may be on the brink of a significant transformation as department store chains Nordstrom and Macy’s consider a shift toward private-equity or hedge-fund ownership. These potential moves could have extensive implications for the retail sector, reshaping the landscape of the industry,...
Businesses looking to keep consumers coming back by offering the most efficient customer experience may want to look to receipt data, at least if financial institutions and FinTechs have anything to say about it. By the Numbers The 2023 PYMNTS Intelligence study “Meeting the Need...
With the wild success of its summer and fall Prime Day events, Amazon is looking to bring in a similar boost in the spring. The company recently announced its Big Spring Sale, running Wednesday through Monday (March 20-25), offering deals on seasonal items including cosmetics,...
Shell is offloading retail locations in a shift to B2B, as across the convenience retail industry, key players are feeling the impacts of ongoing economic challenges. The London-based oil and gas company shared in its recent Shell Energy Transition Strategy 2024 publication that it plans to...
