Marvin Ellison, CEO at Lowe’s, speaking at the NRF Big Show, said he learned early on that, to get ahead in his career, his best approach was to “just take tough assignments.” Every job he’s taken over the last 25 years has involved succeeding someone who was fired or pushed out. Do you agree with Marvin Ellison’s advice for individuals trying to advance their retail careers?
At the NRF Big Show, Jeff Gennette, Macy’s CEO, discussed how process changes and improved data science helped the retailer overhaul inventory disciplines over the pandemic. Are more retailers using data science to tailor markdowns by “door and channel” as Macy’s is doing?
E-commerce has proven to be a huge area of growth for off-price luxury retailer Saks Off Fifth. In a keynote presentation at the NRF 2023 Big Show, Paige Thomas, president and CEO of Saks Off Fifth, explained about the retailer’s moves to capitalize on it. What do you make of Saks Off Fifth’s belief that its online business will one day generate more revenue than its stores?
Rent the Runway reached an agreement to sell its “Pre-Loved” luxury merchandise on Amazon.com, marking another major partnership for Rent the Runway and a big step into the resale market for Amazon. Does Rent The Runway or Amazon score a bigger win with their resale collaboration?
American consumers continued to spend as prices rose steadily higher from 2021 to June 2022. Will they keep up the shopping pace as prices go in the opposite direction? How might a further easing of inflation affect consumer spending?
Nepotism has been in the limelight lately as Hollywood stars have had to defend themselves or their children over gaining an unfair advantage from family connections. Is nepotism at family-run businesses and elsewhere at retail a problem?
Lowe’s is bringing all of its One Roof Media Network ad sales and operations in-house. The home improvement retailer said the move will allow it to control all elements of its relationship with advertisers and partner with them in ways to achieve more meaningful interactions with shoppers. Will advertisers benefit from Lowe’s decision to bring its retail media operations under one roof?
A recent study from U.S. News & World Report ranked 190 jobs in order to identify the best jobs in the U.S. today. Front-line retail employment did not land high up on the list. What must retailers do to improve their employee recruitment and retention efforts?
The good news if you are a My Best Buy rewards program member is that you will no longer be required to make a minimum purchase to receive free standard shipping on online orders. The bad news is that to get the perk, you’ll have to pay with the retailer’s high interest credit card. How do you expect Best Buy customers to react to changes to its My Best Buy rewards program?
Meta was dealt a significant blow last week when being found guilty by European Union regulators of effectively forcing users to accept personalized ads. Required changes for the parent of Facebook and Instagram may significantly limit access to data to sell such ads in the region. Will calls for opt-in only requirements for online ad tracking get louder in the years ahead?
