💡Amazon invests in consolidation of Saks Fifth Avenue & Neiman Marcus Group … Why? 💬 Lot of chatter in the last day about Amazon backing the consolidation of LUXURY retailers Saks and Neiman Marcus….theres a lot to be said about tech that helps traditional retailers win and I think Forbes and Suzanne Kapner at The Wall Street Journal have a great take. That being said, I think the crown jewel they are going after here is interesting…. I think the big nut to crack for Amazon is a CRM play of owning the super high end customers…dominating that top spender market. That luxury shopper. Not as a transactional relationship, but owning that luxury shopper segment—both online and offline. I think the crown jewel Amazon is going after here is…. 💵 Prime for the 0.1%ers. The big picture here is a massive opportunity for Amazon to unlock — think of the spending they could own. 💥 Amazon Ultra Prime. No wonder Salesforce also invested… CRM play. https://lnkd.in/gy_r7jMQ https://lnkd.in/gmk-ZqSU
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It probably comes as no surprise to anyone that HBC, through its Saks subsidiary, is purchasing Neiman Marcus. The combination of these legacy luxury department stores makes sense. The interesting wrinkle in the transaction is that Amazon is an investor in this venture. I guess this means that true omnichannel distribution is in the future for the combined Saks/Neiman Marcus company. It'll be interesting to see how this plays out for Amazon. As you may recall, Walmart had gone through a brand buying binge (Bonobos, ModCloth, Eloquii, etc) a few years ago and has since started divesting itself of these brands. The difference may be that Amazon is acting with a true clothing retail operator as a partner while Walmart sought to do it on its own. #TheRetailLawyer #HudsonBayCompany #Saks #Amazon #NeimanMarcus #retailevolution #omnichannel #attorneyadvertisement https://lnkd.in/eYZasnYn
Saks Paying $2.6B For Neiman Marcus. Amazon Will Invest. Here’s Why.
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This is a good time for me to admit that I scan every individual barcode during my Target trips. There is nothing like scanning my household essentials and clicking the check mark when I realize they are 15% off. What a rush. Target Circle is intuitive, easy to use, and not overpowering with its promotions - in my experience. Of course, conscious shopping is required when an app knows you have a weak spot for anything in the Magnolia collection. But overall, the deals are real. Along with the new paid membership, Target Circle 360, they will reintroduce the Target Circle Card (previously known as Target RedCard). And my favorite new perk "automatic deals applied at checkout — so you can feel confident you’re getting the best deal every time, without having to search for or add individual offers." I'm happy to know my in-store experience, although getting significantly shorter, isn't going anywhere. Target Circle, if you know you know ❤️
Minneapolis-based Target is launching its answer to Amazon Prime next month, but it's not giving up on physical stores. The retailer plans to open more than 300 new stores over the next decade, CEO and chairman Brian Cornell said at the company's annual investor meeting in New York City today. “If you think store shopping will wind down any time in the next decade, we’ll politely disagree on that point again,” Cornell said. This all comes against the backdrop of the company's 2023 financial results, which showed a sizable increase in profit and a modest uptick in revenue in the fourth quarter. Here are our key takeaways.
Target’s Profit Leapt 58% in Q4 | Twin Cities Business
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Essential Tips for Succeeding in Retail Arbitrage with Amazon FBA. Retail Arbitrage can be a lucrative business model but recent changes in store policies and increased prices have made it more challenging. To navigate these hurdles and thrive in Retail Arbitrage you need to approach it with a strategic mindset. This guide provides essential tips and insights to help you succeed from building valuable relationships to leveraging discounts and rewards. By treating Retail Arbitrage as a serious business and adopting effective strategies you can enhance your profitability and stay ahead in this evolving marketplace. ✔️The Evolving Retail Arbitrage Landscape: Retail Arbitrage has become more challenging due to increased store prices and stricter restrictions driven by heightened awareness of these activities. ✔️Approach Retail Arbitrage Professionally: Treat Retail Arbitrage with a serious business-like attitude rather than a casual side project to achieve sustained success. ✔️Cultivate Relationships with Store Staff: Build and maintain relationships with store managers and employees to gain valuable insights and access to better deals. ✔️Prioritize Professional Conduct: Always be respectful, consistent and reliable in your interactions with store staff to foster trust and improve your chances of favorable outcomes. ✔️ Master Store Sales Cycles: Learn the timing of sales cycles at the stores you source from, including markdown schedules new inventory arrivals, and sale events. ✔️Maximize Savings with Coupons: Use coupons strategically to reduce your purchasing costs and enhance profit margins. Stay informed about available discounts and promotions. ✔️Take Advantage of Credit Card Cashback: Utilize credit card cashback offers to lower your expenses and increase overall profitability on purchases. ✔️Benefit from Store Rewards Programs: Engage in store rewards programs to earn discounts, points or other benefits that can boost your profit margins. ✔️Implement a Strategic Approach: Adopt a strategic mindset in Retail Arbitrage by staying updated on market trends and adapting to changes in store policies and conditions. ✔️Commit to Persistence and Adaptability: Retail Arbitrage remains a viable opportunity but success requires persistence and the ability to adapt to evolving challenges and opportunities. The Core Consultancy #amazon #amazonppc #amazonselling
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I hope you all get a chance to unplug today and enjoy a great Independence Day with your family and friends. Digesting the latest news on Saks Fifth Avenue + Neiman Marcus Group. The deal, which had been rumored since Neiman Marcus filed for bankruptcy protection during the pandemic is finally happening. The two retailers have clear synergy serving overlapping high-end customer bases. The investors in this deal include Amazon & Salesforce which on the face of it appears to be a brilliant strategy. Technology has eaten retail and customers demand high speed and accurate fulfillment. Amazon’s cloud & logistics stack and Salesforce’s field service agent workflow offerings will help keep Saks relevant. Further improved end to end inventory optimization will help keep high end pieces off the discount rack in an attempt to minimize luxury discounting. Global trade will increasingly rely on vertical integration and harmonious data exchange between all participants in the supply chains. Our every day mission Catena Clearing is to help solve for interoperability in supply chains. Stay tuned for more updates on our progress in the coming weeks. #Retail #SupplyChains #Data #Middleware
Saks Owner Seals $2.65 Billion Neiman Deal With Amazon Help
bloomberg.com
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Will Amazon’s Big Spring Sale Be a Boon to Spring Retailing? Amazon announced plans to introduce its first-ever Big Spring Sale running from March 20 through March 25, becoming the platform’s third major strategic selling event of the year. The two other events — summer’s Prime Day and fall’s Prime Big Deal Days — last two days each and are reserved for Prime members. The six-day Big Spring Sale event is available for all shoppers, although Prime members get exclusive offers. Read the full article here: https://lnkd.in/euXCQD8M Mark Self "It is Amazon, so it will probably be a success, especially in driving consumers to be Prime members. But I am having a hard time with a ‘Black Friday comes to Spring’ vision." Neil Saunders "Amazon has found that its sales events are really good at driving volume, which is why it’s holding another one during a time when there’s a slight down in retail. This will be great for Amazon, but it will also pull a lot of other retailers into the discounting orbit." Lisa Goller, MBA "Amazon and consumers will benefit from the Big Spring Sale, as will overall spring selling. Rivals are likely to announce concurrent sales rather than passively watch Amazon ring up new sales records. These competitive moves will shift consumer habits to expect and participate in seasonal sales events."
Will Amazon’s Big Spring Sale Be a Boon to Spring Retailing?
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Remember CompUSA? Consumer electronics retailing used to be a fragmented, local business. There were countless "anchor" retailers: CompUSA, Circuit City, RadioShack, Sam Goody -- not to mention a massive long-tail of local retailers (In fact, my mother used to run a small PC shop). Then, e-commerce came. Brick & mortar retailers who got the "transition to e-commerce" right massively consolidated market share, and an e-commerce "native" also took a massive chunk. Why is that? Software/internet driven businesses inherently favor scale. There's a fixed cost to setting up a platform, but the incremental cost of an additional transaction is far lower than brick & mortar. The fastest adopters of technology survive, and reaped the benefits of the digital transformation. Today, Amazon, Walmart and Best Buy control nearly 70% of consumer electronics retailing. What gives? Today the National Multifamily Housing Council released its 2024 rankings of the largest property managers --and the big are continuing to get bigger. Not only is the overall share of the top 50 increasing, but the biggest are even increasing their share among the top 50. Just 5 years ago, the top 10 managers in the US managed 44% of the units. Today's rankings? 50% Is the digitization of leasing and property management driving this? or something else?
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Essential Tips for Succeeding in Retail Arbitrage with Amazon FBA. Retail Arbitrage can be a lucrative business model but recent changes in store policies and increased prices have made it more challenging. To navigate these hurdles and thrive in Retail Arbitrage you need to approach it with a strategic mindset. This guide provides essential tips and insights to help you succeed from building valuable relationships to leveraging discounts and rewards. By treating Retail Arbitrage as a serious business and adopting effective strategies you can enhance your profitability and stay ahead in this evolving marketplace. ✔️The Evolving Retail Arbitrage Landscape: Retail Arbitrage has become more challenging due to increased store prices and stricter restrictions driven by heightened awareness of these activities. ✔️Approach Retail Arbitrage Professionally: Treat Retail Arbitrage with a serious business-like attitude rather than a casual side project to achieve sustained success. ✔️Cultivate Relationships with Store Staff: Build and maintain relationships with store managers and employees to gain valuable insights and access to better deals. ✔️Prioritize Professional Conduct: Always be respectful, consistent and reliable in your interactions with store staff to foster trust and improve your chances of favorable outcomes. ✔️ Master Store Sales Cycles: Learn the timing of sales cycles at the stores you source from, including markdown schedules new inventory arrivals, and sale events. ✔️Maximize Savings with Coupons: Use coupons strategically to reduce your purchasing costs and enhance profit margins. Stay informed about available discounts and promotions. ✔️Take Advantage of Credit Card Cashback: Utilize credit card cashback offers to lower your expenses and increase overall profitability on purchases. ✔️Benefit from Store Rewards Programs: Engage in store rewards programs to earn discounts, points or other benefits that can boost your profit margins. ✔️Implement a Strategic Approach: Adopt a strategic mindset in Retail Arbitrage by staying updated on market trends and adapting to changes in store policies and conditions. ✔️Commit to Persistence and Adaptability: Retail Arbitrage remains a viable opportunity but success requires persistence and the ability to adapt to evolving challenges and opportunities. The Core Consultancy #amazon #amazonppc #amazonselling
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Sales events drive retail growth … Amazon just announced its first-ever Big Spring Sale will run March 20-25. Deals and discounts are always in style, so consumers likely won’t view Amazon's 3 major sales events per year as excessive. The other 2 Amazon sales events are: 🎉 Prime Day in the summer 🎉 Prime Big Deal Days in the fall Who will likely benefit from the Big Spring Sale? 🛍️ Consumers 🛍️ Amazon 🛍️ Its rivals Rivals will likely announce concurrent sales rather than passively watch Amazon ring up new sales records. These competitive moves will shift: 💰Consumer habits to expect and participate in seasonal sales events 🗓️ Retailers’ and brands’ habits to align with a busier marketing calendar 📣 Brands’ budgets to more retail media investments What do you think of Amazon’s Big Spring Sale? Do you plan to check it out? See Tom Ryan’s article for RetailWire and add your thoughts. #retail #ecommerce #Amazon
Will Amazon’s Big Spring Sale Be a Boon to Spring Retailing?
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5moJim, how might BrightEdge leverage similar CRM strategies in its operations?