The Weekly 5
A weekly rundown of the hottest stories in business and retail from Thomas Lester, business editor for Home Accents Today.
- 1.) The customer knows best ChainStoreAge.com has a survey conducted by Tulip Retail that shows – among its many findings – that due to online research, 83% of shoppers believe they know more about products than retail store associates. For an industry that needs its associates to be positioned as experts, that's troubling. But there's good news. According to the report, nearly 50% of shoppers said a knowledgeable store associate who is able to suggest products based on their purchase history would encourage them to shop in-store. Meanwhile, 73% would be interested in having a store associate text or ... Read More
- 1.) Discount retail thriving in era of e-commerce How do those discount retailers do it, even in the face of more and more competition? Here's a story from the New York Post that examines why shoppers love visiting stores under the TJ Maxx, Burlington or Ross umbrellas (for example). Key takeaway? Shoppers love hunting off-price store aisles in hopes of discovering that unexpected gem. And in an era in which the "found treasure" can define a room, that point can't be made often enough. Off-price shoppers "like the treasure hunt," Richard Baum, managing partner of Consumer Growth Partners ... Read More
- Welcome to a new feature at Home Accents Today online called The Weekly 5. In each edition, which will run in this space, you'll find a weekly roundup of business stories — including retail news, licensing, financial results and more — that you might have missed elsewhere. So let's go. 1.) Playboy's hopping into bed with soft goods producer NIGHT : SHIFT. “Playboy is all about bringing fun and style to everything we do, so working with NIGHT : SHIFT on this amazing line of bedding is a perfect fit for us,” said Reena Patel, chief commercial officer at Playboy Enterprises ... Read More