Retail Stores

Walgreens to Close 'Significant' Number of US Stores
June 27, 2024 at 12:52 pm

Walgreens plans to close a large share of its U.S. stores over the next three years, CEO Tim Wentworth said on a conference call with industry analysts on Thursday. Wentworth described a quarter of the company's 8,500 stores as "underperforming," saying the pharmacy chain would close a "significant portion" of those locations. The exact number…

How Retailers Have Been Lured Onto the E-Commerce Battlefield
June 25, 2024 at 7:56 pm

Amazon.com has been successful with many unusual strategies over the years, but one of the company’s most recent wins has been convincing retailers to undervalue their physical assets and focus on trying to compete in the online sphere. This focus on digital commerce has successfully distracted retailers from fully monetizing the massive opportunity already within…

AI-Powered Retail: Revolutionizing In-Store Experiences to Meet Modern Consumer Demands
June 20, 2024 at 3:30 pm

According to IBM's 2024 Consumer Study of over 20,000 consumers across 26 countries, only 9 percent of consumers are satisfied with the in-store shopping experience. Despite the enduring presence of physical stores, this widespread discontent stems from a yearning for more seamless technology integration into consumer journeys. As retailers grapple with the implications of this…

Netflix to Open Two Entertainment Venues With Shopping, Dining
June 19, 2024 at 4:57 pm

Netflix announced Tuesday it plans to open two experiential spaces for entertainment, shopping and dining in 2025. Dubbed "Netflix House," the two locations — slated for King of Prussia Mall outside of Philadelphia, and Galleria Dallas in Texas — are marketed as a "year-round home for fans to live the stories they love." A company…

How Retailers Can Create a Strategy to Address Non-Shopper Populations
June 19, 2024 at 10:02 am

As retailers compete to attract customers and earn their loyalty, the in-store experience is undeniably a key differentiator. Since 80 percent of shopping still happens at brick-and-mortar locations, retailers are rapidly deploying a clever mix of new technologies and redesigned in-store experiences to appeal to consumers. Despite these innovations, however, there is an ever-present risk…

Revolve Group Opens First Store Following Pop-Up Shop Success
June 13, 2024 at 4:34 pm

Revolve Group (RVLV), the next-generation fashion retailer for millennial and Gen Z consumers, last week announced the opening of its first ever permanent physical retail location in Aspen, Colorado. This decision follows the success of the REVOLVE and FWRD Pop-Up shopping experience that opened in the same location in December. Located in Aspen's shopping district,…

The Science of Sound: How to Select Music That Aligns With Your Brand Identity
June 11, 2024 at 1:49 pm

When it comes to shopping, every element within a store can contribute to each customer’s overall shopping experience. For example, researchers from the University of Bath found that on weekdays, playing music in grocery stores can increase sales by more than 10 percent. Unsurprisingly, retailers across the globe are exploring how to use background music…

Report: Retail Sales Jumped Significantly in May
June 10, 2024 at 12:35 pm

Retail sales jumped significantly in May, showing strong increases both month-over-month and year-over-year, according to the CNBC/NRF Retail Monitor, powered by Affinity Solutions, released today by the National Retail Federation (NRF). Total retail sales, excluding automobiles and gasoline, were up 1.35 percent seasonally adjusted month-over-month and up 3.03 percent unadjusted YoY in May, according to…

NRF: Father’s Day Spending to Total $22.4B
June 3, 2024 at 3:37 pm

Father’s Day spending is expected to reach $22.4 billion this year, according to an annual survey released today by the National Retail Federation (NRF) and Prosper Insights & Analytics. This is the second highest figure in the survey’s history and on par with last year’s record of $22.9 billion. Half of consumers plan to purchase…

Floor & Decor Builds Upon Retail Footprint With First NYC Store
May 28, 2024 at 3:27 pm

Floor & Decor, a retailer specializing in hard-surface flooring for homeowners and professionals, recently opened its first-ever New York City store. The 129,000 square foot warehouse-format store marks the company’s first official entry into the five boroughs, and continues its brick-and-mortar expansion. In an exclusive interview with Total Retail, Jerry McVeigh, vice president of PRO services, Floor & Decor,…