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Meet our VP of Search Operations, my partner and friend Kelly Engleka! If you haven't connected with her yet, you should. Kelly has had an incredible…
Meet our VP of Search Operations, my partner and friend Kelly Engleka! If you haven't connected with her yet, you should. Kelly has had an incredible…
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#GiftOfProblems #GrowthMindset #EmbraceChallenges #HarvardSearch
#GiftOfProblems #GrowthMindset #EmbraceChallenges #HarvardSearch
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Wishing everyone a happy Independence Day! 🇺🇸 #FourthofJuly
Wishing everyone a happy Independence Day! 🇺🇸 #FourthofJuly
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Harvard Group International
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As a former practicing attorney and current global executive, I am deeply aware of the critical impact of cyber threats to business operations and…
As a former practicing attorney and current global executive, I am deeply aware of the critical impact of cyber threats to business operations and…
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Peggy Reed
Have you considered or talked about renovating your home? If so, we'd love to hear your ideas and dreams, and discuss the next steps. Which areas or rooms are you most excited about remodeling? Share your thoughts with us, and let's explore how we can bring your home inspirations to life.
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Paul Sklar
From a merchant's standpoint, the landscape of retail is evolving rapidly. Traditional strategies are facing challenges in today's market flooded with e-commerce and direct-to-consumer brands. To engage with modern consumers effectively, retailers must adapt. Shifting the focus from price and quality to how products enhance lifestyles is key. For instance, highlighting the health benefits of a mattress rather than its price can be more impactful. Bill McLoughlin's article "What's Your Value Proposition" in Furniture Today offers valuable insights on this shift. Check it out for a fresh perspective on consumer engagement. #Retail #ConsumerBehavior #ValueProposition
71 Comment -
Laurence Crink
This is a very interesting departure for Wayfair but if they do not put in place a superior retail merchandiser ("true merchant" of which there are very few) I'm certain it will fail miserably. Retail furniture is not like other categories. The store layout and shopping experience must be unique and not just product thrown together thoughout the 150,000 sq.ft. location. Wayfair online offerings have no selling proposition. Just thousands of photos some better than others so consumer is forced to just shop for price. The Wayfair brand names are not representative of anything regarding quality and craftsmanship. How will you do justice to all the current vendors who are now part of website? How will you train salesperson? How will you ever differentiate the numerous duplicated designs and cover choices? I've watched other BIG BOX retailers try and fail with no professional merchant who actually knows furniture and its nuances. By the way, I have been a multimillion-dollar supplier to Wayfair since its early stages. Numerous products, and different price points. Yes... I'm a shareholder as well.
326 Comments -
Neil Saunders
I enjoyed chatting with Inside Retail US about the FTC’s attempts to block the Tapestry x Capri Holdings Limited merger. As I told them, the decision does a great disservice to the retail industry and to American companies trying to create brand houses to rival those in Europe – at least in terms of scale. More importantly, however, the case is based on extremely poor logic and a misreading of how the market works. The FTC is meddling in areas that it doesn’t adequately understand. It all too often operates in a theoretical bubble that is divorced from reality. More of my views in the article… https://lnkd.in/eqXTmefT #retail #retailnews #regulation #luxury #handbags
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Aishah Coleman, Designer
Lowe's is revolutionizing in-store kitchen design with Apple Vision Pro, offering an immersive, interactive experience for customers. This technology enhances client interactions, streamlines design processes, and opens new creative opportunities for designers. Embracing this innovation can give designers a competitive edge and meet rising client expectations. For individual kitchen designers, the effects could be profound: 1. Skill Enhancement: Designers will need to develop new skills to effectively use augmented reality tools. This may require training and adaptation, but it will also open up new opportunities for professional growth and creativity. 2. Client Expectations: As clients become accustomed to the immersive experiences offered by augmented reality, their expectations for design services will increase. Designers who can meet these expectations will likely see increased demand for their services. 3. Cost Considerations: While adopting new technology can involve initial costs, the long-term benefits in terms of efficiency and client satisfaction could outweigh these expenses. Independent designers will need to weigh these factors when deciding to integrate such tools into their practice. 4. Collaboration Opportunities: Augmented reality can facilitate better collaboration with clients, contractors, and other stakeholders. Designers can share their visions more effectively, leading to smoother project execution and more cohesive results. 5. Marketing Edge: Designers who leverage this technology can highlight their innovative approach in marketing materials, attracting tech-savvy clients and standing out in a competitive market. https://lnkd.in/e_Y-kKE7 What are your thoughts? #InnovativeDesign #KitchenTech #AppleVisionPro #LowesInnovation #FutureOfRetail
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Rich McMahon
Why is Visual Merchandising so important? Sometimes I think we lose perspective on how best to serve our customers. Here are some thoughts and highlights... Attracting Customers: Effective visual merchandising grabs the attention of potential customers and entices them to enter the store. Eye-catching displays, window arrangements, and overall store layout can draw people in and pique their interest. Creating Brand Identity: Visual merchandising helps to establish and reinforce the brand identity of a retailer. Consistent use of colors, signage, and design elements helps customers recognize and remember the brand. Enhancing the Shopping Experience: Well-planned visual merchandising can make the shopping experience more enjoyable and convenient for customers. Clear signage, organized displays, and attractive product arrangements can make it easier for customers to find what they're looking for and make purchasing decisions. Increasing Sales: Effective visual merchandising can directly impact sales by showcasing products in a way that encourages customers to make purchases. Strategic placement of high-margin items, cross-selling opportunities, and promotional displays can all contribute to increased sales. Differentiating from Competitors: In a crowded retail landscape, visual merchandising can help retailers stand out from competitors. Unique and creative displays can capture the attention of shoppers and set the retailer apart from others selling similar products. Driving Impulse Purchases: Cleverly designed displays and product placements can stimulate impulse purchases by appealing to customers' desires and emotions. Communicating Value Proposition: Visual merchandising can communicate the value proposition of a retailer, such as quality, affordability, or exclusivity. Through the use of visuals, retailers can convey messages about their products and services without relying solely on written or spoken communication. Visual merchandising is a critical component of retail strategy that can have a significant impact on sales, brand perception, and customer satisfaction. Are you focused on how best to serve your customers? #visualmerchandising #customerservice #merchandiseassortment
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Gail E. Amsterdam
HBC, Saks Fifth Avenue’s parent company has signed a $2.65 billion deal to acquire Neiman Marcus Group, (which includes Neiman Marcus and Bergdorf Goodman stores) with the new entity to be named Saks Global. The new organization will comprise Saks Fifth Avenue and Saks OFF 5TH brands, Neiman Marcus, and Bergdorf Goodman, as well as the real estate assets of Neiman Marcus Group and HBC, the holding company that purchased Saks in 2013. Amazon holds a minority stake and will provide expertise in logistics and personalization technology. Salesforce will also become an investor. This merger aims to create a luxury retail powerhouse, enhancing customer experience with improved AI-driven personalization, offering better access to designer merchandise. The deal is expected to reduce operating costs, increase negotiating power with vendors, and provide financial flexibility for more strategic initiatives. Read more highlighting the most salient features of the deal below. #saksfifthave #saks #5thave #neimanmarcus #amazon #retailnews #amsterdamassociates
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James Feldstein
“Just Keep It” Nike decided several years ago to sever ties with some major retail partners such as DSW and Urban Outfitters and sell less merchandise through others such as Foot Locker and Macy’s. The theory, apparently first developed by previous management prior to COVID, was that the wholesale business should be phased out. This unforced error in Nike’s long and great history represents a teachable moment that helps explain two fundamental business truths. The first is that, in the words of the great University of Chicago Booth School of Business Professor James H. Lorie, “where money is concerned, more is preferred to less.” No business can afford to rationalize giving up hard-earned revenues with the expectation that it can be replaced with more desirable sales from a different channel. The second fundamental principle is that you don’t bet some or all of the farm on a theory. Yes, the world of great retail brands is moving clearly in the direction of D-T-C. The great brands need to be ready to sell exclusively through their own physical and digital channels should third-party partners disappear. There is no point in hastening this transition. They should just keep the third-party revenue flow as long as they can, and it is presumably in their interest to help their partners stay in business. (At times, it might make sense for a high-end brand to reduce wholesale accounts for the purpose of reducing supply and increasing the aura of exclusivity. That was not the playbook here). Ralph Lauren, for example, is purposefully working to increase both AOV and the percentage of total revenues from its own stores and on-line business. But they have not made the mis-step Nike made. Retail is in transition and great brands like Nike are destined ultimately to get all the marbles as third-party retailers increasingly find they can’t compete with many of their marquis brands’ omnichannel operations. But this is a long-term transition. Nike is absolutely correct to prioritize figuring out how to become more customer-centric and using their mono-brand stores and apps to strengthen customer communications and connectedness. The objective of course is to increase Customer Lifetime Value (CLV), which means focusing on relationships with the top 20% of retail customers and increasing the number of people in that cohort. Of course, D-T-C retail is more profitable and attractive than third-party wholesale sales to struggling multi-brand retailers. Obviously, you prefer to own and control the customer relationship and capture all the data it entails. But what were they thinking? It’s not like Nike was losing money on the wholesale business. The margins were obviously considerably lower than their retail profit but margins they were. It’s called marginal revenue for a reason. It is a big mistake to trade less profitable revenues for no revenues from the same source. Business is not always binary. A swoosh in the hand is worth two in the bush.
112 Comments -
Karl Haller
"It’s about extending our ability to find incredible brands we believe our customers will love and introducing them to those brands at a bigger scale, without the cost of a #wholesale model.” A lot to applaud in Nordstrom's #marketplace launch (#TLDR their vision is to become "The Spotify of #Fashion") ... enabling broader, deeper assortments; building out extended sizes; making marketplace items accessible to in-store #stylists; offering tailoring and alterations; and perhaps most importantly, allowing in-store #returns for marketplace purchases. In addition, I think they should use this as an opportunity to extend beyond "#gifting, #home, and #outdoor" and build share of wallet across a broader range of products and services. For some retailers, a marketplace is a chance to try and become #TheEverythingStore. For most, however, it's an opportunity to curate a range of goods and services that are tailored to your target customer(s), without the requisite costs of setting up #fullstack teams., processes, and #OTB to support. https://lnkd.in/g9aR6sjE
13 Comments -
Bernie Daya
Discovering your interior design style is key in shaping your space. From modern to traditional, and even lesser-known styles like boho or glam, there's a diverse range to explore. While we'll spotlight 14 common styles below, it's important to note that preferences can evolve, and many embrace a mix of styles. Unsure where you fit? Let us guide you toward your ideal interior style! 💫 1. Modern 2. Traditional 3. Eclectic 4. Boho 5. Organic Modern 6. Modern Farmhouse 7. Glam 8. Country 9. Industrial 10. Coastal 11. Mid-Century Modern 12. Minimalist 13. Transitional 14. Scandinavian #InteriorDesign #HomeDecorStyles #FindYourStyle #DesignStyle #InteriorStyles
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Nathan (Nate) Cherry, FAIA AICP LEED AP
When Country Club Plaza opened in the early part of the 20th century, it served the needs of well heeled Kansas City residents who enjoyed the good life... European styled buildings were tenanted with high end retail and food establishments. Important to success was the drive in convenience of cleverly designed parking structures for suburbanites who had the day to spend while their spouses worked in the Center City. Now CCP is in the midst of a repositioning led by the same ownership group that has had success with Highland Park Village in Dallas. Although the bones of the CCP development are sound (high quality architecture, incredible plazas and green spaces integrated into a tight(ish) urban grid), the demographics and with them, the behaviors of the current Kansas City market do not match what the district currently offers. Other areas of the city like Power and Light appeal to a younger demographic with urban housing formats and street oriented events. In affluent suburbs, high net worth couples have less interest in leisure shopping, and more in health and wellness and unique experiences. My advise to the new owners is to 1) change the public realm, the streets are way too wide and auto oriented. Encourage walking and biking by narrowing the streets and allowing other modes to have a chance to take hold, 2) create terrace dining and other semi public spaces that are elevated above or adjacent to, the elegantly designed public spaces already there. 3) integrate as much housing as you can get away with, which will create a constituency that self polices and provides energy, use some of the extra retail parking already there for the residences you integrate into the urban grid 4) recognize that you are a content provider, and use some of those parks and plazas as event spaces that attract interest throughout the week, months, and year. 5) create a wellness community with health care, cultural and educational resources in the core; 6) bring a hotel to the property with a rooftop terrace and other meeting spaces that are seen as common ground for both business and community interaction. 7) take advantage of Brush Creek as an amenity that connects to CCP with services for runners, walkers, and cyclists. 8) keep some of the retail but curate its mix to include local artisanal tenants and food purveyors along with the luxury that is already there. Retail Centers from this era must be preserved, while addressing the needs of today with other things to do and experience. Just rethinking the commercial mix won't cut it anymore.
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Michelle Yasmin Hutchinson
With Hudson's Bay Company's recent US$2.65 billion deal to acquire luxury department store Neiman Marcus, it's clear that the landscape of retail is ever-evolving. Interestingly, across the pond, independent department stores are defying the trend of decline, experiencing a resurgence as consumers rediscover their love for physical shopping. By honing in on local consumer preferences and investing in their stores, experiences, and brand relationships, these independents are thriving and hitting the sweet spot on local high streets. In some ways, this mirrors what we are seeing in Canada, with the growth of La Maison Simons and their bold moves into new markets across the country. Whether independent or not, what is clear is that client relationships and outstanding service are core to achieving positive results! (I am shamelessly plugging the need for great talent! 😂 ) #retail #departmentstores #retailcareers #retailrecruitment
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Scott Benedict
According to GlobalData, the U.S. secondhand apparel market grew 11%, or seven times faster than the broader retail apparel market, to $43 billion last year. The report estimates that resale sales online and at traditional thrift stores could reach $73 billion by 2028. #resale #retail #apparel #retailsales
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Andrea Bailey
Discovering your interior design style is key in shaping your space. From modern to traditional, and even lesser-known styles like boho or glam, there's a diverse range to explore. While we'll spotlight 14 common styles below, it's important to note that preferences can evolve, and many embrace a mix of styles. Unsure where you fit? Let us guide you toward your ideal interior style! 💫 1. Modern 2. Traditional 3. Eclectic 4. Boho 5. Organic Modern 6. Modern Farmhouse 7. Glam 8. Country 9. Industrial 10. Coastal 11. Mid-Century Modern 12. Minimalist 13. Transitional 14. Scandinavian #InteriorDesign #HomeDecorStyles #FindYourStyle #DesignStyle #InteriorStyles
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