Jim McCann

In 2013, Nate Checketts and I were friends emerging from painful entrepreneurial speedbumps. We both dreamed of launching our own outdoor/athletic apparel brands (Cotopaxi and Rhone). We could have seen each other as competitors, but we instead invested a few thousand dollars in each other’s businesses in a show of solidarity (and when I say a few thousand dollars, it was an embarrassingly small number because neither of us had money). We ended up launching within weeks of each other. Nate gave me valuable feedback on early Cotopaxi logo concepts, we shared supplier contacts, media leads, and investor intros. For the last decade, we’ve been each other’s biggest cheerleaders. As both brands were getting started, Peter Lane Taylor from Forbes wrote an article about each of us (an intro from Nate). Peter has covered dozens of startup brands over the years - many are no longer around or are shadows of their original vision. A few of them, however, scaled remarkably fast. This is an article highlighting five standout brands and what set them apart. I want to give Nate a huge high five and hug for the incredible job he’s done as a founder/CEO and for his sincere friendship over the years. Your friendship and support has meant the world to me, Nate.

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Key EMARKETER stat: US ecommerce resale volume will hit $80.60 billion this year, a growth of 3.4% YoY, per our December 2023 forecast. Beyond the chart: Ecommerce resale volume is returning to growth after a 6.9% dip YoY in 2022 and a 2.5% one in 2023, per eMarketer forecast. But it still hasn’t returned to its pandemic high of $85.87 billion in 2021. Growth in the number of online fashion buyers has slowed, leading platforms to search for strategies to boost order values by offering luxury goods and courting wealthy shoppers. #ecommerce #resale #retailsales

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While market dynamics for all grocers are more challenging than ever, consumers are likely to benefit from the improved value, variety, and service offerings as businesses strive to adapt and thrive in a hyper-competitive Connecticut food frontier. 🤠 🛒 🍷 #ShopSmartCT #MarketMakeover #GroceryGameChanger

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Ulta Beauty has some big plans for Holiday 2024... 🎄 What is the #1 retail beauty destination prioritizing through Q4? 🤔 🧴 Categories on the Rise - Ulta has invested in in-demand categories such as body care and wellness to ensure it remains the go-to destination for trending products. It's also positioned itself as a leader in the Gen Alpha skincare craze. 🤩 Bringing Joy to Stores - With cultural sentiment seeming to always be negative, Ulta has an initiative to bring more joy to stores, and the gifting season presents the perfect opportunity to communicate this to customers. 👂 Listening to Customers - With 44 million loyalty members, Ulta has an incredible opportunity to learn about trends and get feedback on initiatives. This enhances a sense of community and ensures that retailer continues to deliver what customers truly want. My bet is that Ulta Beauty will continue its beauty dominance through the holiday season and grow as a major retail beauty destination through 2025. #ultabeauty #beautyretail #giftingretail #beautygifts New Ground

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Consumer Confidence is Skyrocketing…But Are Retailers Really Ready for It? Just in: U.S. consumer confidence is up, and it’s not just a blip on the radar. We’re seeing consumer confidence levels that haven’t peaked like this in years and all while an election looms. But is this the “buyer’s high” retailers dreamed of, or a canary in the coal mine? Here’s what you need to know: 70%+ of Americans report being “confident” about their finances and, according to data from the Conference Board, consumer confidence index hit 109.7 this October. Not exactly “YOLO,” but enough to expect higher spends in categories like luxury and travel. Spending & Strategy: McKinsey’s latest found that 48% of consumers will splurge this holiday season, yet 50% will also hunt for discounts... aka, consumers want to “have it all” without paying for it all. Are we ready for the mental gymnastics this takes? Retail’s Moment of Truth: With supply chains stabilizing, consumers expect faster delivery and cheaper prices. But here’s the kicker, they’ll drop a brand at the first hiccup. Gartner notes a 63% abandonment rate for retailers that miss the mark on delivery. Amazon’s spoiling them all. Economic Caveat: With Fed rates staying high, credit card debt has skyrocketed to over $1 trillion, yet optimism holds. The disconnect? We’re riding a wave that economists say could “turn on a dime.” If consumer sentiment shifts, are brands agile enough to react? Takeaway: Retailers take note. The opportunity is here, but so are the risks. The days of “push product, watch it sell” are gone. Be bold, be fast, and be adaptable. #ecommerce #consumerconfidence #retailtrends #holiday2024 #electionyear #retail #Amazon #Ecommerce #Walmart #Target #Shopify

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NOSTALGIC RETAIL SERIES: 15 - LINENS 'N THINGS "In November 1958, Eugene Wallace Kalkin established a leased-linen department in the New Jersey discount retailer Great Eastern Mills. In August 1970, Great Eastern Mills opened the first Linens 'n Things store in East Brunswick, New Jersey. After a succession of corporate ownership changes and the bankruptcy of Daylin, Inc. in 1975, Kalkin bought seven locations out of bankruptcy and founded an independent parent company, which became Linens 'n Things, Inc.." *[Home Textiles Today]* In 1983, Melville Corporation acquired the 55 unit chain. By 2006, the chain boasted 571 stores in the U.S. and Canada. The company's business strategy was "to offer a broad selection of high quality, brand name home furnishings merchandise at exceptional everyday values, provide superior guest service, and maintain low operating costs."*[The Wayback Machine]* But with a ton of debt from private equity buyouts (I know we have never heard this story before), all Linens 'n Things stores were closed in late 2008. As with many of the retailers in this series, the brand went online only with a relaunch in early 2009 and then shut down their online-only presence in 2018. The rights to the brand were acquired by Retail Ecommerce Ventures in 2020 and the website was relaunched. As of today, it is active with brands of yesteryear showing on the top banner that live on in an online only fashion. Missed any posts in the series? Click here for the website with the full list: https://bit.ly/3YxvVfR #nostalgicretail hashtag#retail hashtag#shopping hashtag#brands hashtag#retailrealestate Photo: By Ildar Sagdejev (Specious) - Own work, CC BY-SA 4.0, https://bit.ly/40tAiK6

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In this episode of "The Savvy Supplier" Podcast, Boyd Evert & Al Frank discuss special buys in retail, including their purposes, challenges, and importance. They highlight pricing discrepancies, communication, and return management. Find out what Savvy Suppliers need to KNOW & DO with some solid actionable advice. https://lnkd.in/gnmg4a92

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Important post for indie toy vendors, inventors and those that send us samples to review. Today(11/14) we reach peak inventory value--then we will start to fall -a drop of half from the peak in about 40 days. So what does this mean; 1. Sending samples and new items past September is a crap shoot--we just don't have the time to review or in many cases the cash to invest. 2. Our marketing/merchandising has been set and to add new items is a risk we generally do not take--there are exceptions however. 3. A vendor who ships late (originally Aug/Sept ship let's say) and we get 3 pre booked shipments all at once in late October is a hardship-- handling wise as well as cash wise. Please give padded time estimates and then beat the date -don't promise a date then be late. Finally, if one does not clear enough inventory to hit their ending inventory target, it can cause a crises later in 2025. You miss by a lot, this can be suffocating because toys is about new. I always say, October is like needing an enema, to help clear out the built up inventory! The flip side is if you don't risk some buys you never reach your full potential! #toys #toyinventory #toynews #retail #games #brickandmortar #inventory #inventors

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The thing that separate the NYC Commerce Club events from other events are the breakout intros. For 10 minutes, two to three times during the event we stop the mingling and make sure there everyone gets to know who is in the room. The groups are small, 10-15 people each but they’re valuable, just look at Dave Heaton and Melissa Arpino’s faces in this picture. In the first breakout we ask people 3 questions: 1. What’s your name 2. What company are you with and what do you do there? 3. What is your big ask? Number 3 is the key question. We want people in the community to leave the event meeting someone that can help their business or their career. From that ask people are able to find people that they can do that. For example, at one event a guy running a ~5M business said he was looking for other avenues to grow his business outside of Facebook ads. A good ask. After the breakout session a guy from a $100M+ business came up to him and said: “we make all of our sales through Facebook, don’t diversify”. That was a moment that changed the course of the $5M business owners life. We’re all about that. Tomorrow is our next event. Black Friday is approaching. I’m excited hear what people are going to say their big ask is but I’m even more excited for the question we will ask during the second breakout intro. “What is the best tactic you have implemented or advice you have gotten for BFCM?” The answers here I expect to not only be good but to be timely. I’ll report back with some of my favorite answers later this week or next. In the meantime, what are your answers? What is the best tactic you have implemented or advice you have gotten for BFCM? In the comment, I’ll give an answer or two of my own 😁

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Returns cost retailers an estimated $743 billion in revenue last year, according to the National Retail Federation. That was actually an improvement from 2022, when retailers lost $816 billion on returns. But there's a smarter way forward with returns. By integrating returned products into the resale market, we can simultaneously recover value and reduce waste. This approach does require some investment in: • meticulous inspection • refurbishment • repackaging Advanced tracking systems and data analytics can make all the difference here. Technological innovations like these make the process of putting returns back on the shelf swift and efficient. Fortunately, new third-party vendors offer turnkey resale platforms for retailers. One great example is Recurate (acquired by Trove Recommerce), a startup in XRC Ventures’ portfolio. They provide seamless resale solutions for top brands like Michael Kors, Steve Madden, and The Frye Company. It’s exciting to see the innovation and investment going into this space. By transforming returns into resale opportunities, we not only minimize waste but also maximize value. Which means shoppers, retailers and the planet come out ahead.

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Aloha Friday! 🤙🏼 Here are some interesting stories from the world of retail for Friday, May 10: 👨🏽‍⚖️ Former retailer Bed Bath & Beyond has filed a lawsuit against Hudson Bay Capital Management, seeking to recover over $300m in trading profits from the hedge fund. 🥕 Instacart reported strong first-quarter results, as the company’s total revenue, number of orders and gross transaction volume were all up sharply year over year. On the bottom line, net income came in at $130,000. 👜 Tapestry, the parent company of Coach, Kate Spade New York and Stuart Weitzman, has expanded its outlet strategy and overall marketing spending in response to evolving consumer behaviors. 👠 Salvatore Ferragamo booked lower revenue for the first quarter, weighed by a weak consumer environment in China and the soft performance of its wholesale channel. Revenues totaled €227m in the first three months. 👓 Warby Parker’s revenue jumped 16% in the first quarter of the year as other brands in the sector struggle to grow sales. The eyewear seller expects full year sales to climb as much as 13 percent to $761 million in 2024. 👨🏻‍💻 Online retail sales in the US have increased by 7% from January to April 2024, driven by strong demand for groceries and cheaper discretionary items, according to an Adobe Analytics report. 🏋🏼‍♂️ The Planet Fitness $10-a-month membership plan is a powerful marketing tool and a central part of its strategy. But the largest gym chain in the United States is hiking that monthly fee for the first time in more than two decades. 🌈 Target has Pride merchandise in fewer stores this year after backlash it received caused it to pull some items from last year's collection. Last year collections went into all stores; this year they will go into select locations. 🍷 More Americans are making lifestyle changes, consuming fewer alcoholic beverages and switching to non-alcoholic brands that resemble booze-filled cans and bottles. 🍏 Apple has apologised for an ad for the new iPad Pro, following criticism for its depiction of an industrial compressor flattening tools for art, music and creativity. 🍓 ALDI USA plans to pass along $100m in savings to customers by reducing prices on over 250 items. The company aims to help customers save money amid concerns of persistent inflation. 🍔 Many consumers are expressing frustration at the surge in fast-food prices, which are starting to scare off budget-conscious customers: about 25% of people who make under $50,000 are cutting back on fast food due to costs. 🧸 Funko taps former Hasbro executive as CEO: Cynthia Williams served as president of Hasbro’s Wizards of the Coast and Hasbro Gaming units until she resigned last month. 🚛 DoorDash and Uber are pushing back against measures that set a minimum pay standard for delivery drivers in Seattle. NYC and Seattle are the first two cities in the US to pass a minimum wage law for food gig delivery workers. #retail #retailnews #economy #DailyRetailNews

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Here is the link to view the webinar for my presetation: The Marketplace; Smart Merchandising - Or Not So Much? At the risk of stirring up a hornets nest, I challenge the home center retailers who are implementing a Marketplace program to stop and think about both the need to clearly define objectives and to put guardrails in place to protect their brand image: https://lnkd.in/eVK-byV4

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The battle for the shelf is also the battle for the consumer's wallet. Some of the stress noted in this The Wall Street Journal article is normal, but the current retail and shopping environment is anything but normal. Consumers are being more selective based on inflation and economic uncertainty. Retailers are emphasizing private brands to respond to consumers price sensitivity and to pursue additional basket share. Both retailers and brands are curating their assortments to help manage inventory, overall as well as at the store level. We’ve certainly noticed an uptick in interest for process improvements and solutions to support the stress points discussed, including forecasting, assortment planning, pricing, and overall inventory management. What else are you seeing in the market, in stores, and with consumers? #retail #assortment #pricing The Parker Avery Group Robert Kaufman Sam Iosevich Amanda Decker -Astrologo

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Hello Retail Friends, convenience retailers face unique challenges. Small footprints and limited storage space require highly accurate and scalable supply chain planning – especially when charged with supporting aggressive growth targets. We’re proud to announce that OXXO, the largest convenience retail chain in the Americas, recently chose RELEX to optimize forecasting and replenishment as they focus on international growth.    https://lnkd.in/ebaedkfH   #supplychainplanning #supplychainoptimization #supplychain OXXO Internacional Enhances Retail Operations with RELEX Solutions for Forecasting and Replenishment | RELEX Solutions Focused on international growth, OXXO adopts RELEX AI-driven forecasting and replenishment solutions for smarter supply chain and inventory management.

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Podcast: Powering Resale for Conscious Retailers with Continue 🎙️

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In today’s retail landscape, merchandisers are overwhelmed with data but often lack actionable insights. They face the challenge of making quick decisions on product selection, inventory, and more, all while navigating fragmented data systems. Traditional BI tools, while useful, can complicate this process with complex dashboards that don’t cater to individual needs. The good news? AI-powered analytics are stepping in to bridge this gap. By integrating generative AI with BI platforms, merchandisers can easily access insights using natural language, simplifying decision-making. For instance, instead of sifting through multiple dashboards, they can simply ask an AI for sales data on specific products across regions. This integration not only streamlines workflows but enhances data-driven decision-making, ultimately improving product assortments and customer satisfaction. As we embrace AI, the future of merchandising is set to become even more intuitive and responsive, giving retailers a competitive edge. Conversations On Retail, Chain Store Age

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In the competitive world of retail, branding has become more important than ever. With so many products and services available to consumers, it’s crucial for product startups to build a strong brand strategy in order to stand out from their competitors. Check out our latest blog post to learn more about how product startups can build an effective brand strategy. https://lnkd.in/gkKymtUC #retail #branding #brandstrategy #newproductlaunch #productstartup

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INVENTORS - 2025 is nearly here. Is your product ready for RETAIL? I know the year is not quite done yet but for those inventors that want to be a part of the retail scene in 2025, your product needs to be up and running and ready for selling. The fact is most major retailers make their buying decisions 6 to 12 months in advance, and so if you want to have a shot at being in stores for fall and holiday next year, you need to act now! Even if you plan on just selling on retailer’s websites or other online venues, those decisions are still made a number of months in advance generally speaking. So what to do? You need a plan of action. You need to create a package for your product. You need to make sure you have a factory that can make it efficiently and cost-effectively. You need to start approaching retailers now if you want to do business with them next year. Planning and preparation are key to being a successful inventor when you want to bring a product to market successfully. Not very complicated stuff once you know what you need to do, but certainly lots of stuff to do for sure! #inventing #licensing #retail

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How to Find Wholesale Suppliers on Linkedin for your Brand Reselling Business?

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