Talk about a change in fortune. A scant five months ago Wayfair was trading at a 52-week low of $21.70. Then, following its August earnings release, in which it posted its first quarterly profit since its 2014 IPO, Wayfair’s stock price soared to as much as an astounding $316.50 per share. If you are keeping score at home, that means that an investment of $10,000 back in March, right when the pandemic hit, would now be worth roughly $150,000. Holy Hanna -- that’s one hell of a return in five months! Now, say what you will about the …
Sex, China and Covid-19
Sex, China, and Covid-19. What sounds like an afternoon White House press briefing actually holds the key to understanding why virtual reality (aka VR) is one of the most overblown topics in retail right now. Social media has been a flutter with the usual geek speak on the topic since the outbreak began, and Retail Dive, just last month, also highlighted how the coronavirus pandemic could lead to higher VR adoption and a stronger consumer desire for things like “virtual try-ons” and “virtual malls.” But everyone needs to slow their roll just …
Will Retail Become Like the Airline Industry?
A few weeks ago, Walmart debuted its new Express delivery program, whereby Walmart customers can pay an extra $10 fee to have their purchases delivered right to their doors in two hours or less. While questionable on many levels, the move, putting all objections aside, signifies something profound -- namely, that the “experience” of retail is becoming less and less important with each passing Covid day. Similar to the airline industry, attitudes are shifting. What matters now is not experience but getting people what they need in the cheapest …
Retail Love in The Time of Coronavirus
Coronavirus coverage is everywhere. One cannot turn on the TV, scroll through social media, or shout at his or her neighbor from more than six feet away without hearing or seeing something about it. But, as important as the coverage is, it shouldn't be all consuming. Amid all the craziness, all the kids interrupting work-from-home conference calls and all the figuring out where to store the toilet paper, now is also the time for happy thoughts. It is important to remember that the retail industry was on an important upward trajectory just …
McKinsey Launches a Flashy New Store
Late in September, McKinsey & Company, the famed consulting firm that every year hires left-brained Ivy League MBAs off campuses like a drug addiction, went from consultancy to full-fledged retailer. With much fanfare and national press, McKinsey debuted its Modern Retail Collective at Mall of America. The Collective brings together trending brands, new technologies and even new forms of payment. But in the end, the whole thing just leaves us feeling dazed, confused (and yet wanting more). Everybody's First Time The experience of losing …
The Good, the Bad and the Ugly Revealed at Groceryshop 2019
Groceryshop 2019 took place in Las Vegas last week, bringing together the most curious of the curious in retail, CPG and tech for four days of keynote speeches, moderated panels, technology exhibitions, and pots and pots of convention grade coffee. It did not disappoint. "Groceryshop is the best aggregation of players within the industry. It is a place where you can talk to anybody about anything," said Steven Reinemund, VP of eCommerce for The Hain Celestial Group. The convention hall was frenetic, bustling with energy. One could walk …
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A Secret Shop of STORY at Macy’s Reveals Some Ugly Truths
The retail industry often falls in love with its own sound bites. Sexy acquisitions, beautiful in-store PR photos and even charismatic retail personalities are as frequent in the headlines as gnats at a summer barbeque. Yet, the industry gravitates towards them week after week despite the cluttered notice-me landscape in the rare chance that they may offer hope in the face of what is a rapidly advancing and unknown retail future. Macy's acquisition of STORY this past year is one such example. STORY was supposed to be the shining beacon on …
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Ocado: Tom Hanks or C. Thomas Howell?
Recently the Wall Street Journal reported that Kroger has struggled to come to grips with the impending online grocery upheaval. While Kroger has tried many new things - from testing digital shelving to embarking on autonomous vehicle delivery, one Kroger investment stands out from the others - Ocado, the UK-based online grocery retailer that specializes in direct-to-consumer automated fulfillment. The belle of the ball at Shoptalk 2018, Ocado burst onto the scene, bringing with it hopes of unbridled potential for the U.S. market. But, now, …