Jon Beck

Thank you RETHINK Retail for this feature. One of the questions I was asked: 𝙒𝙝𝙖𝙩 𝙞𝙨 𝙩𝙝𝙚 𝙜𝙧𝙚𝙖𝙩𝙚𝙨𝙩 𝙘𝙝𝙖𝙡𝙡𝙚𝙣𝙜𝙚 𝙩𝙝𝙚 𝙞𝙣𝙙𝙪𝙨𝙩𝙧𝙮 𝙞𝙨 𝙛𝙖𝙘𝙞𝙣𝙜? ⏺️ Product creation practices tied to over development and excessive physical sampling ⏺️ Merchandising and assortment planning strategies need to be reimagined = more supply does not equal more demand ⏺️ Inventory issues like excess inventory and eroded margins from markdowns ⏺️ Managing customer expectations on the instore and online experience ⏺️ Perfecting personalization, from design to marketing Interested in learning more? Check out the link below. ➡️ https://lnkd.in/edXg5aAf #retail #topretailexpert #RetailVoices #RetailVoicesbyNRF #RETHINKRetail #NRF2025

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Hello Retail Friends, I am pleased to announce the release of our latest Pricing and Promotions research report, developed with Incisiv. This report, surveying 179 retail executives across the US and EMEA, will be presented at Groceryshop in Las Vegas this week - be sure to come see us at booth #A610 to learn more.    Key findings include:   🔹 93% of shoppers demand more value: With 84% citing price as critical, 87% of retailers have adopted aggressive discounting strategies to sustain sales and loyalty.   🔹 $1 trillion in sales driven by promotions in 2023: Amid economic uncertainty, promotions are essential. 87% of retailers plan to maintain or increase promotional efforts in 2024.   🔹 Low adoption of advanced analytics: Only 12% of retailers use real-time data, advanced algorithms, and AI, impacting their agility.   🔹 Critical challenges in data quality and integration: Effective promotional strategies require accurate, unified data, yet cultural resistance also hinders progress.   🔹 Reliance on outdated systems: 37% of retailers still use spreadsheets, lacking the agility needed for dynamic market conditions.   The report highlights the need for integrated pricing and promotional capabilities. By leveraging advanced technology, retailers could achieve an additional $450 billion in incremental sales.   I encourage industry leaders to explore this report for strategic insights to drive growth and innovation.   #RetailLeadership #PricingStrategy #Promotions #MarketResearch #RetailInnovation #Groceryshop #GroceryForum #RELEXSolutions   https://lnkd.in/eSjYKxqC

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🏀 𝔻𝕚𝕔𝕜'𝕤 𝕊𝕡𝕠𝕣𝕥𝕚𝕟𝕘 𝔾𝕠𝕠𝕕𝕤 𝕡𝕠𝕤𝕥𝕤 𝕒 𝕤𝕥𝕣𝕠𝕟𝕘 ℚ𝟛 𝕣𝕖𝕤𝕦𝕝𝕥𝕤 ⚾ While some retailers continue to falter (insert Kohl's here) DICK'S Sporting Goods continues to deliver strong results in 2024. Q3 results exceeded all expectations with net sales of $3.06 billion and earnings per share of $2.75. Comparable store sales grew by 4.2%, (not a misprint) supported by a strong back-to-school season and the payoff of some strategic investments, in the "House of Sport" and "Dick’s Field House" concepts. DSG raised its full-year guidance, expecting comparable sales growth between 3.6% and 4.2% and adjusted earnings per share of $13.65 to $13.95. For now it looks like one retailer outside of Walmart and Amazon has figured out how to post positive store comps. Well done, DSG! 🏀 Need help riding the wave with Dick's by better managing and analysing their point-of-sale data for wins and opportunities? 📈 Book an appointment with me above. 📆 #dickssportinggoods #posdataguy #posdata

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Sales dipped and profits were lower for Dillard’s, whose CEO expressed disappointment in the Little Rock-based retailer’s performance. Dillard’s reported Thursday (Aug. 15) revenue of $1.514 billion in the second quarter compared to $1.597 billion in last year’s second quarter. Analysts projected second-quarter revenue at $1.53 billion. #retailsales #earningsreport #departmentstores

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“Our new store concept cements Foot Locker’s position as the leader in sneaker culture by offering an engaging, cutting-edge shopping experience for the sneaker passionate,” Foot Locker’s president and CEO Mary Dillon stated in a press release.  I spoke with Inside Retail US and Nicole Kirichanskaya and what this all means for the 👟 retailer. Some of my insights: Foot Locker is headed in the right direction with their ’store of the future’ strategy. In fact, it is long overdue. This strategy will put a spotlight on product obsessed sales associates, hyper-localized assortments as well as curated experiences. Rethinking the physical store will get Footlocker to take customer insights and inform product and store decisions based on location and community. This will make every store different and get customers excited about visiting the retailer. The sneaker industry has lost a lot of its luster. Brands like Nike and Under Armour are overstocked with SKUs, and adidas would have had a rough year if it wasn’t for the Samba. Additionally, there are more brands competing for market share. On and HOKA have taken the running community by storm. Brooks Running is focused on innovation and wholesale while PUMA Group and Reebok are relying on celebrities as creative directors to capture a new customer base. The hype around exclusivity and limited editions is not as exciting for consumers, and it will take a lot more than just the product to persuade shoppers to buy. Retailers like Footlocker have the upper hand if they reimagine the physical store as a destination for innovative and exciting experiences vs. focussing on pushing a handful of brands. It’s all about the customer and getting them to spend time in your store. Find the entire article here --> https://lnkd.in/ebzaEUam Shoutout to Neil Saunders and Marie Driscoll, CFA 🙌🏽 #retail #retailnews #footlocker #footwearnews #stores #cx #merchandising

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Hello Retail Friends,   It’s no secret that supply chains have faced unprecedented disruption and volatility in recent years, underscoring the need to address vulnerabilities, improve preparedness, and create innovative strategies.   We surveyed 285 retail, CPG, and wholesale leaders globally in February 2024, exploring the challenges, strategic investment areas, and opportunities for retailers and CPGs over the next 3-5 years.   See how retail and CPG executives are tackling these challenges and planning for the future in our report, State of Supply Chain 2024: Retail and CPG Dynamics.     https://lnkd.in/eQQVdNmN     #supplychain #businesstransformation #supplychainplanning

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It's unsurprising that some consultants for retail are still completely missing the boat with new technology -- to argue that retailers need a "war room" for inventory management because retailers have siloed data is ridiculous. Umm, maybe replace the disconnected systems with a modern unified platform instead of adding more labor, inefficiency, and complexity to the retail chain. A unified system like FieldStack running a retail chain will easily, provably outperform a "war room" of people looking at siloed data sets -- the "war room" will invariably induce personal bias, be slower, and much harder to scale... there is a much better way --- fix the problem! #retail #retailstrategy #inventorymanagement

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Merchandisers nowadays face a vast array of challenges in financial planning, including demand forecasting accuracy, inventory management complexity, seasonal impacts, and changing market trends. In this blog by Michael Orr, see how Blue Yonder´s Cognitive Merchandise Financial Planning solution radically re-shapes the foundational process of retail enterprise planning by combining predictive and generative AI, giving merchandisers the time and freedom to use their expertise and domain knowledge to drive faster, better and more agile decisions. https://bit.ly/3TY4WXg #RetailPlanning #AI #MerchandisingTech

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Retail. Is. TRENDING. Why? Chris Ressa and Scott Auster tell us in this week's Retail Retold podcast. 👉 How have negotiations over lease concessions shifted recently? 👉 What types of store delivery conditions have been increasing recently? 👉 Why are stores going to have “a little more character” in the near future? 👉 Which lease terms have shifted in favor of property owners since COVID? 👉 How to navigate technical definitions in exclusive use lease clauses? Listen here or wherever you tune in to podcasts: https://bit.ly/4aWMHJ1 #CRE #RetailRealEstate #ThoughtLeadership #RessaOnRealEstate

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Here are some interesting stories from the world of retail for Thursday, May 30: 👖 Shares of Abercrombie & Fitch Co. continued their record run after the apparel retailer reported another quarterly earnings beat and raised its sales growth outlook, amid continued strength in the Abercrombie brand. 🏀 DICK'S Sporting Goods kicked off the year with net sales of more than $3 billion in Q1, an increase of 6.2%. Comparable sales in the quarter grew 5.3%, on top of 3.6% growth the year prior. 🦅 American Eagle said it’s making gains in boosting profitability as it works to improve its product assortment and tweak operations. Still, its fiscal first-quarter sales came in weaker than Wall Street expected. 🐹 Chewy smashed earnings estimates for its fiscal first quarter on Wednesday, announced its first share buyback program and signaled a recovering pet market. 🌳 Dollar Tree Stores announced it has acquired leases for 170 of 99 Cents Only Stores stores out of bankruptcy in Arizona, California, Nevada and Texas. Dollar Tree will reopen these stores with its own products under its brand. 🥾 Dr. Martens plc has announced a swathe of cost-cutting plans, after the bootmaker’s bottom line was hit by plummeting demand in the US last year. The London-listed firm hopes to save up to £25m in the coming financial year. 🏥 Walgreens said it will slash prices on 1,300 items across its drugstores — the latest big retailer to enact discounts as consumers grow increasingly picky about where they shop in an era of stubbornly high inflation. 🐶 Petco names a new chief stores officer as the COO exits. The pet retailer said it eliminated its chief merchandising and supply chain officer role and named five people to its executive leadership team. 👟Italian luxury sneaker brand Golden Goose, which was valued at €1.3bn when acquired by Perimia in 2020, said on Thursday it aims to list on Milan's Euronext next month. 💵 Cash register outages and internal system failures at Walmart have led to widespread mispricing, with customers being overcharged for certain items. The technical issues on March 19th affected 1,600 stores. 🌭 Americans are now prepared to spend nearly $6 for a hot dog. The summertime classic has climbed in price by 7.1% during the past year, according to the latest government figures. 🍔 A top McDonald's executive on Wednesday decried poorly sourced reports that the fast-food giant has hiked its prices faster than inflation. He also noted that an $18 Big Mac meal is exception not the rule. 💳 Visa and Mastercard have agreed to pay $197m to resolve a class action by millions of consumers accusing the financial payment companies of keeping cash access fees artificially high. 🍪 Subway’s footlong cookie is back. Following a four-month long disappearance, Subway announced Wednesday the “triumphant return” of the oversized chocolate chip cookie. #retail #retailnews #economy #DailyRetailNews

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News that Delta Apparel, Inc. is to sell its Salt Life brand as it goes through bankruptcy should come as no real surprise. As I explained to Just Style, the retailers Delta sells to via wholesale have cut back on inventory and orders as customers have reduced buying activity. This has put the squeeze on the company. The group is in a real financial mess and has been struggling to maintain liquidity. Delta is also in default on several loan covenants. The direct-to-consumer businesses, including Salt Life, have performed a little better, which is why they are more salable assets. But without these stronger parts of the business, Delta will have a lot of work to do to get back on a solid financial footing. More of my thoughts in the article linked in the comments. #retail #retailnews #apparel #bankruptcy #clothing #wholesale

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Since 2019, Kohl's sales have shrunk by $2.3 billion. That’s a pretty terrible number given consumer spending on retail rose by a dramatic $1.3 trillion over the same period.     The Kohl’s losses are a combination of existing customers spending less and the complete defection of some shoppers. Over the past five years, Kohl’s has lost 1.3 million customers: people who used to visit Kohl’s, but now they don’t. Most of these folks still buy things so it’s interesting to see where they’re now shopping, or shopping more at, instead of Kohl’s. The diagram below traces the defections. The most notable thing is the gains being made by off-price retailers. TJX – with its TJMaxx, Marshalls, and HomeGoods banners – is picking up a lot of trade. Ross, Nordstrom Rack, and Burlington are also in the mix. It’s no wonder off-price is doing so well when it’s gaining so many customers from chains like Kohl’s. What’s also notable is that online specialists don’t dominate. Amazon has picked up some trade, as has Wayfair, but neither are the main beneficiaries of Kohl’s woes. This underscores that the very simplistic narrative of ‘online killed…” is often far from the truth. It is also significant that Costco makes an appearance. Costco is a silent assassin. Many retailers don’t have it on the radar for non-food; but the reality is that Costco has a formidable non-food business. Retailers like Kohl’s don’t underperform because one large enemy comes in and swoops away all the custom. Their substantial loss of trade comes from many players nibbling away at their sales and market share. #retail #retailnews #departmentstores #wholesale #shoppers

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Not that cost-plus pricing is necessarily the best pricing approach for all businesses, but imagine setting prices based on cost when you may not have accurate data for cost. Then consider that the root cause for this is technology as it existed for department stores in the 1920's.

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What's the headline from recent retail earnings transcripts from Walmart, DICK'S Sporting Goods, The TJX Companies, Inc., and more? Value wins. The macroeconomic environment played a role in crowning the season’s winners. Value is top of mind for consumers as they look to stretch their budgets. Read on below for more insights: https://lnkd.in/gCvZghbY

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A brutal mix of factors over the last few years led to retailers absorbing excess inventory shocks. But with the cost of capital increasing, it’s more important than ever to ensure inventory levels do not rise to unsustainable levels while also avoiding out-of-stocks. Our latest insight by Amit Mahajan, Young Hu and Aabha Rathee reveals how leveraging AI and ML can transform inventory management, leading to a 10-20% reduction in working capital, a 50-60% reduction in stock shortage in stores, a 2-4% uplift in sales, and a 1-3% margin benefit. Discover how these technologies can help retailers optimize supply chains, reduce markdowns, and enhance customer satisfaction. Read the full article here:

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“The problem is not going to abate any time soon,” says Amena Ali, CEO of Optoro. According to NRF Foundation's recent report, returns are expected to amount to 17% of all merchandise sales, costing retailers $890 billion in returned goods. 🤯 The surge presents a significant challenge for retailers, both financially and environmentally, forcing them to find ways to mitigate the impact. What does that mean for retailers and what happens to all those returns? Jessica Dickler answers all your burning questions in this CNBC article 🔥 https://lnkd.in/ebrrSVBi

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Here are some interesting stories from the world of retail for Wednesday, November 27: 🏈 Dick's raised its full-year guidance on Tuesday after what CEO Lauren Hobart called an excellent back-to-school shopping season and better-than-expected comparable sales for its third quarter. 👕 Abercrombie & Fitch Co. reported its sixth consecutive quarter of double-digit gains, positioning the retailer for a healthy holiday season ahead. Net sales rose 14 percent to $1.2 billion from $1.06 billion in the year-ago quarter. 📺 Best Buy has cut its full-year sales forecast and missed Wall Street’s quarterly revenue expectations, as early holiday shopping and a fresh batch of iPhones and AI-enabled laptops weren’t enough to drive higher sales. 🏬 Kohl's shares fell sharply on Tuesday after the company's earnings missed Wall Street estimates and following its announcement that CEO Tom Kingsbury will step down in January. 🧥 Burlington Stores, Inc. posted higher sales in the latest quarter and said the holiday selling season has started strong, as the off-price retailer’s offerings resonate with consumers looking for deals. 🛍️ Nordstrom on Tuesday offered up a slightly more optimistic full-year sales forecast, but said there was a noticeable decline in sales trends at the end of last month. 👚 Urban Outfitters has said it doesn’t have to discount as aggressively, amid holiday-season optimism. In the latest quarter, revenue rose 6.3% to $1.36 billion, while same-store sales rose 1.5%. 📈 Economists are concerned that President-elect Trump's proposed blanket tariffs on imports would drive up food prices. Tariffs would not only impact food imports but would also push up costs for fertilizer and farm equipment. 👖 Guess trimmed its guidance for the year after swinging to a loss in its fiscal third quarter, citing slowed traffic at its stores in Asia and North America. Shares fell 10%, to $15.52, in after-hours trading. 🥦 Workers at a Whole Foods Market store in Philadelphia, Pennsylvania, have filed to hold a union election, the first union filing at the supermarket chain since Amazon acquired it in 2017. 🍊 Orange juice prices have surged close to record highs after Florida was hit by hurricanes. A future contract for a pound of frozen orange juice concentrate currently trades for $5.13, compared to $1.20 in 2021. 📦 More than one-in-10 Americans reported experiencing package theft in the past year. Among these victims, 28% encountered theft during Black Friday shopping and 11% on Cyber Monday. 👍🏼 Americans continue to feel more upbeat about the outlook for the economy. The latest reading from the Conference Board was 111.7 in November, above the 109.6 seen in October and the highest level in more than a year. 🥖 Subway announced Tuesday that its CEO, John Chidsey, will retire at the end of 2024. Executive Carrie Walsh will replace him as interim CEO. #retail #retailnews #economy #DailyRetailNews

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Here are some interesting stories from the world of retail for Tuesday, May 7: 🛋️ Shares of Beyond, Inc. — the parent of Overstock and Bed Bath & Beyond — fell after it reported a deeper-than-expected loss and said it was trying to draw more committed customers amid weak home-goods demand. 🚛 Kohl's’s is now offering same-day delivery via the Instacart app. Using Instacart, customers can place orders for same-day or scheduled delivery from 1,172 Kohl’s locations nationwide. 🎯 Target is expanding its partnership with Hudson's Bay in Canada, broadening the sales of its in-house Cat & Jack children's brand to include swimwear, outerwear, and shoes. The move comes after positive feedback. 🚚 Wholesale remains most profitable investment channel for brands. The channel, which is expected to grow 51% this year, accounts for about 60% of companies’ total sales. 🏬 A fourth Bloomie’s location is set to open in New Jersey this fall, part of the parent company Macy's ongoing strategy to tap into more luxury sales with a new small format strategy. 👷🏼‍♂️ Kroger is planning to spend approximately $45 million in 2024 to remodel 15 stores in Ohio and Indiana. Kroger is highlighting investments in its stores as it presses ahead with the Albertsons merger. 🍓ALDI USA, the American arm of the German-owned discount supermarket chain, has urged its suppliers to cut costs, increase production, and focus on sustainability to stay competitive. ⬇️ More than four-in-five consumer respondents (81%) have noticed shrinkflation, with three-in-10 (29%) having seen it very often since 2020 - according to a survey by Clarify Capital. 💄 Amazon said Monday that its Summer Beauty Haul event is returning next week. Amazon noted the sales promotion starts at 12am PST on May 13 and runs through 11:59pm PST on May 19. 🥩 Shares of meatpacking giant Tyson Foods plunged more than 9% — the stock’s worst day since August — after the company said persistent inflation weakened consumer appetites for meat biting into profits in the second quarter. 🍺 The European boss of Budweiser has said the brewer has learned to “stay in our lane” following a backlash over Bud Light’s work with a transgender influencer. 🧴 Chinese-made skincare brands, such as Skintific, have gained popularity in Muslim-dominated markets like Indonesia and Malaysia. These brands downplay their origins and present themselves as local products. 🇦🇺 Australian supermarkets found to be overcharging customers could face criminal penalties if the government adopts the findings of a new review. #retail #retailnews #economy #DailyRetailNews

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