Rachael Lucas

"Gen Z shoppers are bringing back the mall shopping center experience." Earnings reports the second half of May from companies like Abercrombie & Fitch Co., Gap and AMERICAN EAGLE OUTFITTERS INC. paint an encouraging picture of fashion retailers leading the resurgence of the mall shopping experience. Gen Z in particular is demonstrating an affinity for shopping in store. Retailers like the ones listed above understand this, and they're doubling down on their brick & mortar investments to give Gen Z (and other shoppers) a consistently rewarding in-store experience. This shift underscores what we've believed all along: that shopping in store will always be an essential part of the human experience. The key is understanding how customer expectations and preferences change over time, and adapting the shopping experience to those evolving customer behaviors. Thanks to Nathan Bomey and Kelly Tyko at Axios for the insightful article! #retail #fortheloveofretail #genZ #instoreexperience

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Retail managers have to learn to be so multiple faceted in order to be a successful leader in their role.

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Trending- In recent months, the issue of shoplifting has increasingly become a significant concern across the United States. Retailers are grappling with a surge in theft that not only impacts their bottom line but also affects consumer experience and employee safety. Here are some key points on this pressing topic: **1. **Increase in Incidents: Recent reports indicate a marked rise in shoplifting incidents nationwide. The National Association for Shoplifting Prevention (NASP) notes that more than $13 billion worth of goods are stolen from retailers annually, and this trend is escalating. **2. **Organized Retail Crime (ORC): Unlike petty theft, organized retail crime involves coordinated efforts by professional thieves targeting high-value items for resale. This type of crime is more sophisticated and challenging to combat, often requiring retailers to invest in advanced security measures and collaborate with law enforcement. **3. **Impact on Retailers and Consumers: The financial toll on retailers is substantial, with losses sometimes leading to store closures or reduced staff hours. For consumers, this can mean higher prices as businesses attempt to offset their losses. **4. **Technological Solutions: To counteract shoplifting, many retailers are turning to technology. Innovations such as AI-powered surveillance systems, electronic article surveillance (EAS) tags, and facial recognition software are being implemented to deter and detect theft more effectively. **5. **Legislative Responses: In response to the growing problem, some states are enacting stricter laws and increasing penalties for shoplifting and organized retail crime. These measures aim to provide a stronger deterrent and support law enforcement efforts in tackling this issue. **6. **Community Involvement: Retailers are also engaging with local communities to raise awareness and foster cooperation in preventing theft. Community watch programs and partnerships with local authorities can play a crucial role in reducing shoplifting incidents. As shoplifting continues to pose a significant challenge, it is crucial for retailers, law enforcement, and communities to work together in developing comprehensive strategies to mitigate its impact. By leveraging technology, enacting robust policies, and fostering community engagement, we can better address this growing concern and support the sustainability of our retail industry. What strategies have you seen implemented to combat shoplifting effectively? Share your thoughts and experiences in the comments below- Happy Sunday #RetailSecurity #ShopliftingPrevention #OrganizedRetailCrime #RetailTechnology #CommunitySafety

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Let’s talk Retail. Every Branch and Area Manager understands that keyholding can be the key to efficient store operations (pardon the pun). Currently, many retail locations rely on assigned staff to be on time and unlock the doors. However, keys do occasionally get lost, or the keyholder decides on a “sudden career change” and simply walks away with keys in his pocket. And what about security? When the alarms go off, you would want someone on-site right away to check the premises for intruders and update you immediately. That’s why keys should be stored securely at the point of entry! Here’s a brief overview of the most obvious benefits of our key management solution for the Retail sector! If you’d like to dive deeper, learn more on our website: https://lnkd.in/egZyvBK6 #Retail #Keyholding #KeyManagement #FM #AccessControl #SecurityProducts

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Tough reporting day for Kohl’s, surprising with soft Q1 sales. On the plus side:  -Delivered gross margin expansion and managed down inventory  -Early success in underpenetrated categories, positive trends in Women’s, and continued strong Sephora growth.  -New opportunity through Kohl’s Babies “R” Us partnership For a summary of today’s highlights, see MPG’s Earnings Report Recap below. For a conversation on the implications for your brand strategies, reach out to Jaspreet Kaleka. #retail #marketing #Kohls #omnichannel #mpg #marketperformancegroup

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“ Put chaos into your business. If you always think the same, you become predictable and boring. You have to have the courage and the willingness to change “ by Pietro Beccari. A quote that stays for the Leadership Flexible mindset I’m practicing for! 🌟 #neverstopLEARNING

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Strategies and tactics about how to gather richest shoppers. A lot of conventional and close-to-conventional activities from top retailers like Neiman Marcus Group and Saks Fifth Avenue. Is it a true luxury experience? Or -at the end- is something like a mass-market (in smaller numbers)? #luxury #jewelry #jewellery https://lnkd.in/eNcCVgpG

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Shares of Abercrombie & Fitch Co. are up more than 500% over the last year. How? And can they keep it? The secret(s) to success: A new product line, a more body-positive rebrand, and a new #footprint strategy. #Abercrombie #AbercrombieAndFitch #RetailTrends #FashionRetail #RetailNews #RetailInsights #RetailAnalysis #MarketWatch #RetailStat

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Nordstrom's recent financial report highlights an intriguing challenge in the loyalty program landscape. Despite the company's robust Nordy Club, an unexpected surge in rewards redemptions contributed to a $39 million first-quarter net loss. While Nordstrom expects this to balance out over the year, it underscores a crucial point: the design and management of loyalty programs are vital to their success. A well-designed loyalty program should not only reward customers but also drive continuous engagement and spending. It's about striking the right balance between generosity and sustainability. Nordstrom's scenario reminds us that simply offering points and perks isn't enough. Effective loyalty programs need to be dynamic, constantly monitored, and adjusted based on customer behavior and market conditions. One common pitfall is relying on negative barriers like point expiry dates to manage costs. This approach can frustrate loyal customers and ultimately undermine the program's goals. Instead, the focus should be on positive incentives that encourage members to use their rewards and continue spending. Tailored promotions, exclusive offers, and timely engagement can motivate customers to redeem their points regularly, enhancing their experience and driving revenue. For companies aiming to enhance their customer experience and loyalty, it's essential to understand that loyalty programs are not set-and-forget initiatives. They require continuous refinement and strategic thinking to remain effective and beneficial for both the business and its customers. https://lnkd.in/gTK6xssH At Nic Taylor Strategic Consulting (https://nictaylor.ca/), we specialize in designing and optimizing loyalty programs that not only attract but also retain customers by fostering genuine engagement and driving long-term growth. By leveraging strategic insights and innovative digital technologies, we help businesses create loyalty programs that truly resonate with their customers. Let's connect to explore how we can transform your loyalty program into a powerful tool for customer retention and business growth. https://lnkd.in/gnCBrB9e #CustomerExperience #LoyaltyPrograms #DigitalTransformation #Nordstrom #RetailStrategy #CustomerEngagement

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As a GOOD AMERICAN customer, I can’t wait to experience the store. 👖As a former merchant, having a digital option to showcase styling, fit and product knowledge would have given me the confidence that my merchandising strategy was being executed in the store without having to physically be on location. 📺This is a great way to make sure teams are product obsessed with the constant graphics and that the visual merchandising / styling options are being showcased at the store. 🛍️To make sure this extension of digital is a success, Good American would need to keep the content fresh and consistent with real time inventory and reflective of the current product assortment. Sales associates would still need to be product obsessed but they would also need to show customers what is possible with the digital screens. The experience should augment and assist the sales associate and not be considered a replacement of staff. 🔹The excitement of finding a product on the screen, loving the look and being disappointed if the item or the size is not available could also drive customers away. GA would need to be on top of their inventory position and have a good handle of managing their inventory across all channels. 🗞️Check out more #BrainTrust comments on RetailWire: https://lnkd.in/eDJp--GF #retail #retailnews #goodamerican #cx #stores #merchandising #TRE #TopRetailExpert

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80% penetration of extended warranty is impossible! In any industry!! And especially in jewelry!!! Or so I thought… Signet Jewelers reported Q1 earnings last week. While Wall Street slammed the stock price nearly 20% (down 9.2% in Same Store Sales in North America is pretty dismal), I thought there were some intersting tidbits and learnings beyond the basic EPS. Most notably, CEO Gina Drosos mentioned how successful their push into “Lifetime Service Plans” has been, even citing an 80% penetration in engagement rings (https://lnkd.in/gyN7Nv_S.) I was certain she misspoke. How can you possibly achieve 80%? But later that day, on Mad Money (https://lnkd.in/gV9Jns6b), she doubled down on the statistic so I’m both impressed beyond words and dumbfounded. If you aren’t familiar with lifetime service plans, they are basically extended warranties (think of AppleCare on your iPhone). For a fixed upfront cost (Signet charges between 10-25% of the sales price), they promise to service the item for life (resizing, rhodium plating, retipping prongs, etc - https://lnkd.in/gS6P4D5a). Notably, Signet’s plan excludes diamonds or gemstones that are lost from the mounting.(Shameless Plug: Daniel’s includes lost stones in our lifetime warranty program!) Anyways, extended warranties are generally highly profitable and also a great way to get customers back in the store (free cleanings, free inspections) so most jewelry retailers focus on selling these and have for many decades. But 80% penetration??? I verified that I don’t have a single SKU at 80% penetration, much less my entire bridal department! What Signet is reporting is darn near incredible! They should be applauded. Back of the envelope, the numbers check out. They reported about $717M in Lifetime Service Plans in fiscal 2023 which is about 10% of their total revenue, and Engagement is about 50% of their sales, so $3.6B in engagement times 80% penetration times 15% of revenue equals $430M or about 60% of their total Lifetime Service Plan revenue. But to achieve that, they somehow have convinced 8 out of 10 in-store engagement customers to buy an extended warranty. Think about that for a second: 8 out of 10?!? I can’t even get 8 out of 10 people to agree the sky is blue! I want to know what their secret sauce is, especially since they must also be selling high percentages to their non-bridal customers to make up the rest of their service plan revenue. Whatever hypnotic power of persuasion is in the water coolers at their stores I want. Anyone have any insights???

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Unlock Your Future: The Incredible Career Opportunities in Retail! Retail is more than just a job—it's a thriving industry full of amazing career opportunities. In my best-selling book, "The Retail Leaders Roadmap," even a colonel in the military and a top trauma surgeon see immense value. Based on my 35 years of real-life retail experience, this book proves that a career in retail is not only reliable but also highly rewarding. And if retail isn't your choice, this book translates equally well across various fields, as praised by leaders from different industries. Don't miss out on this chance to discover why retail is a smart career choice and how it can transform your future. Let's #Getupandgetgoing, and dive into the world of retail! Pick up your copy today https://a.co/d/2qjoAZe #RetailCareers #CareerOpportunities #RetailIndustry #RetailLeadersRoadmap #CareerGrowth #JobSecurity #RetailSuccess #LeadershipInRetail #RetailJobs #ProfessionalDevelopment #BestSellingBooks #RetailLeadership #CareerAdvice #RetailExperience #FutureInRetail #CrossIndustrySuccess YOOBIC RETHINK Retail #TRE

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You’re a retail store manager and your associate just quit…. We’ve all been there. You call your store manager friends to get resumes and vent…but they tell you about Reflex and now you don’t have to worry. #storemanagers and #retailleaders this vicious cycle costs time and money- I’ve posted about the costs and indirect costs like team retention, reputation to the brand, the client experience, overtime, and more after someone exits. Reach out to me or share this post for your retail network. If there is a solution to a big labor problem in retail, and you haven’t connected with us, what are you waiting for? One conversation to explore Reflex and how costs a little bit of your time for a big gain with your business. #reflex #retail #retailing #staffing #relatable #retailassociates #managers #management #solutions #retailindustry

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