Kyle Lanzen

Looking for some visual merchandising tips? Here are some thoughts on the virtues of mass merchandising from the Specialty Shop Retailing blog. #independentretailers #shoplocal #visualmerchandising #retailing #smallbusiness

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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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🚀 Big News Alert: Saks Buys Neiman Marcus with a Boost from Amazon! 🚀 Hey everyone! Just had to share this HUGE update in the luxury retail world. Saks Fifth Avenue’s parent company is dropping $2.65 billion to scoop up Neiman Marcus, and guess what? Amazon’s in on the action, bringing their tech and logistics game. 🛍️✨ Here’s the Tea: • Power Move: Merging two luxury legends to create a mega retail powerhouse. • Tech Boost: With Amazon on board, expect next-level tech integration for a seamless shopping experience, both online and offline. • Big Bucks: Financed by top-tier investors like Rhône Capital and the Abu Dhabi Investment Council, plus $1.15 billion in debt from Apollo Global Management. • Market Shakeup: The new combo will hit around $10 billion in annual sales, giving them major leverage with suppliers and streamlining costs. Why It’s a Big Deal: This merger shows how vital tech and partnerships are in today’s retail scene. It’s proof that luxury retail is evolving and adapting, even when times are tough. For investors, this move is a clear sign of confidence in the luxury sector’s future and the potential for new opportunities. Big things are coming, and I am excited to be part of this evolving industry. Stay tuned for more updates as we keep pushing the boundaries in luxury retail!

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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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Walmart’s new research on the state of adaptive retail points to a new era of retail where customers expect to be advised and guided throughout their shopping journeys. Shoppers want retailers to be ready for them – ready with hyper-specific recommendations, ready to adapt offerings to match needs, ready to deliver.    The systems and platforms the Global Technology Platform team builds are essential for enabling many of these dynamic experiences, from our clouds which power everything across our ecosystem, to platforms like Element that enable teams across Walmart Global Tech to leverage the data they need to innovate faster.   Check out the report to understand the trends shaping the future of retail and how retailers can adapt to meet customer needs.   https://lnkd.in/g_GXHywS   #walmart, #walmartglobaltech

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In this new Wisdom With, I get a chance to garner valuable insights from James Jackson who leads strategic development efforts for the Category Management Association and his thoughts on better retailer and buyer engagement. 💡 Understand your Category Manager/Buyer ↗ Retailer Category Managers are charged with meeting P&L objectives and not YOUR specific brand goals. ↗ Each individual brand (and item) must clearly serve a purpose and contribute to achieving his/her objectives. ↗ Learn their how they like to receive information and tailor accordingly. Avoid off-the-shelf presentations that lack any customization for the specific customer in mind. Canned pitches have a low success rate. 💡 You Must Be Compelling ➡ Weave great insights and your product offering into a clear solution that helps address their specific category or business objectives. Compelling stories should have: 👉 A recognizable conflict (example: “50% of shoppers in this category are struggling to find an x product to relieve this symptom”) 💪 A “hero” (your brand) 👊 A believable and profitable resolution (example: “By solving the conflict, it would bring an incremental $1M in margin to the category”) 💡 Help Drive Execution ↗ Your Customer is buried with data, multiple projects, and is continuously putting out a fire. ↗ Your goal shouldn’t stop at getting distribution, it should be to STAY in distribution. 💡 Assist your Category by making effective implementation easy. ↗ Recommend the POG changes and do the work in advance ↗ Target a smart cluster of stores to launch for higher likelihood of success ↗ Create a strong promotional plan to drive immediate proof of performance ↗ Offer sales/broker support to get things rolling #wisdomwith #betterperformance #retail #merchandising #data #storytelling

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Who's winning in retail?? - It is all coming out in our AlixPartners 2024 Consumer Sentiment Index. I had the pleasure of discussing major findings with CNBC's Gabrielle Fonrouge. See link below for Gabrielle's article, as well as link to our full report. Ask me about it - there's even more behind the report. We surveyed 9000 consumers and asked what makes them shop (and buy!) across Fashion Sectors, and who's winning according to the consumers (Walmart, American Eagle Outfitters Inc., Nike, Macy's, Kohl's and others)! (Full report here: https://lnkd.in/ejyutg7v)

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Good read for points to consider. I would add a few more. On data, capture the right level of detail that allows observable corrections to improve the scorecards. Get agreement from all stakeholders on the measurement and the details behind the measurement. I remember a previous role where it took several months for accounting and merchandising to agree on the inputs for the margin calculation. Do not underestimate the need for change management. You create a scorecard to ensure success. It will flush issues that require change in the retailer and supplier networks. Leaders must be expect and support those changes. Some of those changes will be uncomfortable and may strike close to home.

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𝗜𝘀 𝗞𝗼𝗵𝗹’𝘀 𝘄𝗶𝗻𝗻𝗶𝗻𝗴 𝘁𝗵𝗲 𝗿𝗲𝘁𝗮𝗶𝗹 𝗴𝗮𝗺𝗲 𝗼𝗿 𝗷𝘂𝘀𝘁 𝘀𝘂𝗿𝘃𝗶𝘃𝗶𝗻𝗴? 🤔 Amidst a challenging year for department stores, Kohl's is navigating the storm by tightening its belt—the retailer’s focus on cost controls and leaner inventories has led to an increase in profit targets for the upcoming holiday season, despite a 31.7% decline in stock value this year. 🛍️ 𝗪𝗵𝗮𝘁’𝘀 𝘄𝗼𝗿𝗸𝗶𝗻𝗴? • Aggressive clearance events brought fresh styles to the floor just in time for spring. • SEPHORA's presence within Kohl’s stores continues to shine, balancing out the weaker performance in apparel and footwear. 📉 𝗪𝗵𝗮𝘁’𝘀 𝗻𝗼𝘁? • Despite a 9% inventory drop this quarter, 𝗰𝗼𝗺𝗽𝗮𝗿𝗮𝗯𝗹𝗲 𝘀𝗮𝗹𝗲𝘀 𝗳𝗲𝗹𝗹 𝗯𝘆 𝟱.𝟭%—more than anticipated. • Kohl’s position in the market makes it vulnerable to changing consumer spending patterns, especially in a discount-driven landscape. 𝗕𝘂𝘁 𝗵𝗲𝗿𝗲’𝘀 𝘁𝗵𝗲 𝗸𝗶𝗰𝗸𝗲𝗿: Kohl's isn’t alone. The promotional holiday shopping season will see a similar strategy from competitors like Macy's and Nordstrom. The question remains—can Kohl’s turn this strategy into a sustainable long-term growth model? 🌱 #RetailStrategy #InventoryManagement #RetailTrends #Ecommerce  https://lnkd.in/gjt-C9AV

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Ashley Buchanan's leadership at Michaels Stores has been transformative, setting the stage for his new role at Kohl's (which will not be an easy gig). At Michaels, Buchanan tackled critical issues by enhancing the company's e-commerce capabilities and streamlining its product offerings. Under his guidance, Michaels expanded its online assortment to 1.5 million items, catering not only to hobbyists but also to professional crafters. He launched MakerPlace by Michaels, an innovative online marketplace akin to Etsy, allowing creators to sell their crafts directly through the platform. This strategic pivot not only broadened Michaels' customer base but also positioned the company as a one-stop shop for arts and crafts enthusiasts. As Buchanan steps into his role at Kohl's, he brings with him a wealth of experience in digital transformation and merchandising strategy. His success at Michaels in improving operational efficiencies and enhancing customer engagement will be crucial for Kohl's, which has struggled with declining sales and increased competition. By leveraging his expertise in e-commerce and customer-centric strategies, Buchanan has the potential to revitalize Kohl's retail experience and drive growth. Could his focus on innovation and adapting to market trends help Kohl's regain its footing in the competitive retail landscape? How will his strategies impact the store-within-stores concepts? #AshleyBuchanan #RetailTransformation #KohlsFuture #EcommerceInnovation #LeadershipInRetail

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The attached article shows some basic but impactful examples of integrating technology within the physical store layout; real time pricing and product communications updates - hands free changes. #shoppermarketing #consumerbehavior #consumerinsights #omnichannelretail #innovation #consumergoods #shopperinsights #shopperexperience #futuremarketing #retail #retailmarketing #retailexperience #brandbuilding #branddesign #branddevelopment #brandidentity #brandimage #retailexperience #retailmarketing #shoppingexperience https://lnkd.in/e6FC6AGy

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Great Bloomberg op-ed on why investing in retail store leaders is good for business. I love Andrea’s callout that big investments can raise eyebrows with analysts – like increasing our average Walmart store manager salary to $128,000/year with a new bonus program that gives store managers the potential to earn up to 200% of their base salary. But in the long run, she shows how these types of investments support retention, career growth, better run stores, strong stock value, and our ability to attract a broader range of customers.   Here are a couple of studies that stood out to me in Andrea’s piece: 💠 A 2012 study by Alex Edmans, Professor of Finance at the London Business School (then at Wharton School), found that firms on Fortune’s list of “100 Best Companies to Work for in America,” which have superior employee satisfaction scores on factors including pay and benefits, outperformed peers by 2.3-3.8% per year from 1984 through 2011. 💠 A follow-up study by Hamid Boustanifar, associate professor at the EDHEC Business School, and Young Dae Kang of the Bank of Korea found that the relationship still held: companies on the publication’s list earned an excess return of 2-2.7% per year through 2020, with particular outperformance during tough times.   At the end of the day, these investments also support the ability to build a pipeline of strong talent that stays and grows with a company. We want Walmart to be seen as an employer of choice and pay plays a big part in how we attract and retain talented people. #Compensation #TeamWalmart https://lnkd.in/gPVdAYG4

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Aloha Friday! 🤙🏼 Here are some interesting stories from the world of retail for Friday, July 26: 👨🏻‍💻 Following the announcement that Saks' parent HBC will look to acquire Neiman Marcus for $2.65 billion, Saks has confirmed a shakeup of its operations that will entail an undisclosed number of layoffs. 🍋 The potential mega-merger between Kroger and Albertsons is on hold while lawsuits play out in state and federal court. On Thursday, the two companies agreed to a temporary injunction in Colorado. 🚜 Tractor Supply Company stock erased early losses to trade flat Thursday after the retailer posted weaker-than-expected second-quarter sales and narrowed guidance to lower the top of its profit and sales ranges. 👟 Upbeat results from the HOKA and UGG brands prompted Deckers to boost its full-year profit outlook. It now expects $29.75 to $30.65 in earnings per share for the full fiscal year. 🍾 Luxury giant LVMH – the company behind Dior, Tiffany & Co., and a number of champagne labels – reported a 15% decline in Champagne sales in the first half of the year compared to the same period the year prior. 📕 As back-to-school shopping kicks off, Walmart is selling thousands of back-to-school items for less than $10, the retail giant announced. That includes pens, backpacks and lunchboxes, the retailer said. 🌯 Chipotle Mexican Grill customers were right in their complaints about skimpy portion sizes. CEO Brian Niccol disclosed that a company investigation found that 1 in 10 of its restaurants were too meager with their servings. 🏬 Wilshire Rodeo Plaza sits at one end of Rodeo Drive and its new owners are betting big the address on Beverly Hills’ iconic street will lure luxury retailers, The new owners paid more than $208 million for the property. 🦅 American Eagle Outfitters Inc. has launched a “Live Your Life” back-to-school campaign, targeting Gen Z through a mix of co-creation, omnichannel strategies and surprise activations for back-to-school. 🥤 Keurig Dr Pepper Inc. reported quarterly earnings and revenue that met analysts’ expectations on Thursday as higher prices fueled its US soda sales. Net sales rose 3.5% to $3.92 billion. 🍗 Restaurant patrons who order chicken wings marketed as boneless can't expect them to actually be boneless, according to a Thursday ruling from the Ohio Supreme Court. 🍔 Wahlburgers has major beef with a California barbecue company — and it’s taking it to the courts. It accused Backyard BBQ Village and its operator of infringing on its trademarks and unlawfully posing as Wahlburgers. 📈 Consumer confidence increased in June, with consumers feeling more positive about the job market, their household finances and their spending comfort levels. 💰 The US economy grew by 2.8% in the second quarter. A faster than expected pace as consumers continued to open their wallets despite ongoing inflation and high interest rates. #retail #retailnews #economy #DailyRetailNews

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How can you best maintain your focus through the holidays and end-of-year? 𝗡𝗼 𝗻𝗲𝘄 𝗶𝗱𝗲𝗮𝘀. 💡   Wait ... what? I know this sounds radical, but hear me out.   Convenience Store News just published a piece on the innovation agenda for convenience retailers, citing five strategic initiatives that will never get old.   1️⃣ The Store Experience 2️⃣ Foodservice Innovation 3️⃣ Customer Engagement 4️⃣ Data-Driven Decision Making 5️⃣ Workforce Optimization   "𝘛𝘩𝘦𝘴𝘦 𝘢𝘳𝘦 𝘤𝘰𝘮𝘮𝘰𝘯 𝘮𝘪𝘭𝘦𝘱𝘰𝘴𝘵𝘴 𝘢𝘭𝘰𝘯𝘨 𝘵𝘩𝘦 𝘫𝘰𝘶𝘳𝘯𝘦𝘺 𝘵𝘰 𝘣𝘦𝘤𝘰𝘮𝘪𝘯𝘨 𝘢 𝘱𝘳𝘦𝘧𝘦𝘳𝘳𝘦𝘥 𝘥𝘦𝘴𝘵𝘪𝘯𝘢𝘵𝘪𝘰𝘯 𝘧𝘰𝘳 𝘤-𝘴𝘵𝘰𝘳𝘦 𝘴𝘩𝘰𝘱𝘱𝘦𝘳𝘴."   These are not new concepts, but rather well-known ideas put into action. Take a look at this work from Melissa Kress, Danielle (Romano) Rowan, and Tammy Mastroberte to see how the winners keep winning, even despite "no new ideas."   📕 Read on: https://lnkd.in/g5wwrenK #convenience #cstore #innovation #roadmap #digital

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Target's shares increased by over 15% following a positive earnings report, indicating a reversal of a sales slump. The company reported a 2% rise in comparable sales for the second quarter, marking its first increase in over a year. Store traffic grew by 3%, compensating for a 0.9% decline in average transaction spending, attributed to lower prices. CEO Brian Cornell highlighted consumer resilience despite ongoing economic challenges. The earnings report reflects broader consumer spending trends, with other retailers like Walmart and Costco also reporting strong sales growth. Target's sales of discretionary goods, particularly in apparel and beauty, showed improvement, aided by new product launches. The company implemented price reductions on 5,000 items, contributing to increased customer traffic. Target's revenue reached $25.5 billion, exceeding expectations, with a net profit of $1.2 billion, a 43% year-on-year increase. The operating profit margin improved to 6.4%, surpassing the company's long-term goal of 6%. Target raised its earnings forecast for the fiscal year, reflecting confidence in sustained sales growth. #target #usretail #usconsumer #retailsales

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Our team talked through the differences in physical retail vs. digital this week. Cole Walker presented some great insight in the differences in Instacart behaviors and typical store patterns. The big underlying theme? Visibility means something entirely different when you’re talking digital vs. physical in retail. One of my favorite things to do in store is tidy up the shelf (most CPG folks I’ve found do this 😆). The physical shelf requires price tags, inventory, some decent packaging, and merchandising to look good. It also is seen by the human eye, which has a wide lens and can capture a lot of info at once. The digital shelf largely relies on inventory, reviews, and an algorithm paired with searches. It has a very narrow lens for viewership (1 listing per 1 inch of screen essentially) and is noisy in its own way. As the two worlds grow more intermingled, it’s imperative to remember the core ingredients that fuel each medium, and the recipe need for success.

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This is the new normal. With omni channel concept traditional store or supply chain facility/warehouse manager role has significantly evolved. Now from physical store replenishment, inventory and POS management, managers must also juggle with online order and inventory accordingly. Imaging these new leaders almost like franchisee business owners. Very strong ownership also create big challenges with larger workforce, a suite of process implementation and technology+data. Plus side in addition to higher compensation is the growth in skillset and overall leadership and process & business knowledge. Of course the compensation has changed and will continue as standard, small format or hyper scaled stores and supply chain facilities adopt omni channel distribution, delivery and POS concept. This is just the beginning!! #store #supplychain #management #leadership

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Kohl's is partnering with Instacart for same day delivery. This latest initiative is part of a wider pattern at Kohl’s of doing things with third parties. Amazon returns came first. Then Sephora. Then Babies-R-Us. Now same day delivery with Instacart. The partnerships don’t hurt Kohl’s in any way and some, like Sephora, do help generate revenue. But they also don’t fix the many issues with the core business. In the case of same day delivery, I doubt it will move the dial much at all. Why? Well, from our data, among Kohl’s existing customers fast online delivery currently ranks 20th in the list of reasons why people opt to shop at Kohl’s. Kohl’s doesn’t score badly here, it’s just not that important to shoppers. This is most likely because a lot of the things Kohl’s sells are not needed urgently, and people are broadly satisfied with current delivery speeds. Among those who do not use Kohl’s, online delivery being too slow is 26th in the list of reasons people don’t shop the chain. Only 5% of non-shoppers identify it as a reason for not shopping at Kohl’s; and less than 1% say it is the main reason. In other words, faster delivery will not activate many new customers and will not drive existing ones to spend more. It's a distraction - albeit not a deeply unhelpful one - from the main problems. Thanks to Modern Retail for including my thoughts in the article linked in the comments. #retail #retailnews #fastdelivery #samedaydelivery #ecommerce

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Here are some interesting stories from the world of retail for Thursday, June 6: 🧘🏽‍♀️ lululemon beat Wall Street’s earnings and revenue estimates, but issued weak second-quarter guidance as it contends with a slowdown in the Americas, its largest market. 👕 Hanesbrands Inc. will sell Champion to Authentic Brands Group in a deal worth up to $1.5 billion with performance incentives. Authentic owns brands such as Reebok, Forever 21 and Quiksilver. 5️⃣ Five Below cut its outlook for the year, warning that its core low-income shoppers were facing an outsized impact from years of inflationary pressures. It posted an unexpected decline in same-store sales for the first quarter. 👙 Victoria’s Secret & Co. said it was encouraged by demand for its bras, sleepwear and other clothing in May, but the company said it was exercising restraint amid continued caution more broadly among the US consumer. 🏪 Foxtrot intends to reopen several locations in Chicago in the Gold Coast and Old Town neighborhoods. The news comes after Foxtrot and Dom's Kitchen & Market closed on April 23. 🌳 Dollar Tree Stores Tree said that it had started a formal review of strategic alternatives for Family Dollar, which it said could include among others, a potential sale, spin off or other disposition of the business. 💵 Walmart is now offering bonuses to its hourly employees in the US., the company announced Wednesday. The longer an associate has been with the company, the higher the associate's bonus potential, to a maximum of $1,000. 📚 In a blow to publishers and authors, Costco Wholesale plans to stop selling books regularly at stores around the United States, four publishing executives who had been informed of the warehouse retailer’s plans said Wednesday. 🚚 Albertsons and Uber have launched a new food rescue initiative that aims to address food insecurity and food waste in several major US cities. The program donates surplus food from the grocer’s stores to local nonprofits. 📸The TJX Companies, Inc., parent of TJ Maxx, Marshalls and HomeGoods, said it’s equipping some store employees with body cameras to thwart shoplifting and keep customers and employees safe. 🍔 McDonald's lost a European Union trademark dispute over the Big Mac name after a top European Union court sided Wednesday with Irish fast-food rival Supermac's in a long-running legal battle. ✂️ The Bank of Canada's decision on Wednesday to cut interest rates from 5% to 4.75% is expected to provide financial relief to Canadians and encourage consumer spending. 🧳 Shinola and Filson parent Bedrock Manufacturing Company has appointed Steve Katzman to the role of CEO and Kevin Wertz as chief marketing officer. 🇦🇺 ALDI Stores Australia is moving into the insurance sector, with the launch of a series of homes and contents, car, and landlord products. #retail #retailnews #economy #DailyRetailNews

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