Retailers are reportedly expressing optimism for the holiday season sales following stronger-than-expected figures during Black Friday and Cyber Monday. The heavy discounts offered during these peak shopping days attracted budget-strained customers, leading to record-breaking online sales and surpassing estimates, Reuters reported Friday (Dec. 1). This positive start...
Despite economic uncertainty, consumers have been spending in the week after Thanksgiving to complete a portion of their holiday shopping and take advantage of the best deals. This year’s Black Friday online sales in the United States approached a record of almost $10 billion, representing...
Neiman Marcus has reportedly rejected a $3 billion takeover bid from Saks Fifth Avenue. The two luxury department store chains have been engaged in negotiations for several months but have been unable to agree on the terms of a potential merger, The Wall Street Journal...
This quarter, fashion retailer Express is looking at merchandise discounts to draw in more shoppers. During the latest earnings call, CEO Stewart Glendinning acknowledged the retailer’s recent challenges, particularly in its merchandise strategy. “I mean, women had a — historically, in the last couple of years,...
Ulta Beauty is delivering bargains and luring customers. During an earnings call with investors Thursday (Nov. 30), CEO Dave Kimbell shared that the retailer experienced strong foot traffic, both in physical stores and online. Additionally, he expressed expectations for a more promotional holiday season in...
This week, eCommerce giant Amazon rolled out a new slew of artificial intelligence (AI) tools, giving brands and retailers a chance to upgrade their customer experiences without breaking the bank. Mega retailer Walmart, on the other hand, is hoping to draw more shoppers with a new blockbuster debut. ...
Mastercard has introduced a generative artificial intelligence (AI) tool that acts as a personal assistant for shoppers. Rolled out by the company’s Dynamic Yield unit, Shopping Muse arrives at a time when consumers are increasingly using artificial intelligence (AI) to help with shopping and other parts of their daily routines....
Retailers are increasingly adopting “keep it” or “returnless” policies for unwanted products. The adoption of these policies is a response to the rising costs associated with returns and the need to streamline operations and retain customers, Reuters reported Thursday (Nov. 30). By allowing shoppers to...
After a year filled with surprising developments, Farfetch appears to be continuing its trend of unexpected moves. The online luxury retailer revealed this week that it will not be disclosing its financial results for the third quarter of 2023, and the scheduled conference call for...
