In today’s top retail news, some retail industry observers believe supply chain issues may be overblown amid predictions that holiday spending will hit record levels this year, while Uber is partnering with Bed Bath & Beyond to launch a baby and kids vertical in the Uber Eats app. Also, Amazon is staying focused on omnichannel offerings, though providing few details about the future, and the CEO of The Beachbody Company talks to PYMNTS about the future of connected fitness.
Holiday Spending Predictions Suggest Some Supply Chain Issues Overblown
For months, headlines have had one message for consumers: Get your Christmas shopping done early, because supply chain tangles show no sign of letting up. But with holiday spending projected to reach record levels this year, some industry watchers are wondering if supply chain issues may have been overblown. Matt Powell, senior sports industry adviser for The NPD Group, noted on Twitter last week that many brands are warning of weak sales because of supply chain logistics, but few retailers are providing similar warnings.
Uber, Bed Bath & Beyond Partner to Deliver Baby and Kids’ Clothing
Uber is collaborating with Bed Bath & Beyond and buybuy BABY on a baby and kids vertical within the Uber Eats app, the latest example of retailers and service providers moving to meet demand in the “bring-it-to-me economy.” According to PYMNTS research, 52% of consumers have made a retail purchase using an online retail delivery aggregator such as Uber, Instacart and others over the past year.
Amazon Sheds Little Light on Store Plans, but is Committed to ‘Omnichannel Experience’
Though PYMNTS research suggests this year will be a very digital Christmas, Amazon is still pushing forward with its plans for more physical retail locations in an effort to create a truly omnichannel experience, though many of those plans remain under wraps. Dave Fildes, Amazon’s director of investor relations, told analysts on a conference call that the company’s objective is to give consumers a choice and offer them the ability to shop either in store or online, “whatever works best.”
Hybrid Home, Gym Experience May be the Future of Connected Fitness
Carl Daikeler, co-founder, chairman and CEO of The Beachbody Company, told PYMNTS he expects a certain share of workouts to stay at home even after people fully return to physical gyms and in-person classes. Daikeler said Beachbody saw a surge in post-COVID at-home fitness spending of 30 to 40%, and average workouts per active user per month have remained strong throughout 2021 as people continue to embrace at-home health and wellness. Beachbody projects that the connected fitness market will reach $59 billion by 2027.
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