Placer.ai’s Post

More interesting insights from Placer.ai

Macy's latest unhappy set of results confirms two things: First a consumer slowdown is in play, with shoppers pulling back on discretionary spending – something that clearly affects Macy’s. Second, however, as Macy’s 8.4 per cent sales decline is significantly worse than the overall market, they tell us that the once iconic retailer is firmly on the back foot. #InsideRetail #Retail #retailnews #percent #results #consumer #market #spending https://lnkd.in/gSKR4ZUx

Retail Today / Retail Today: What happens when you brag about a retailer, their leader and organization? Then they fail to not only produce better results but struggle to find the bottom. Target “THE NEW MODERN DEPARTMENT STORE”, continues to miss sales and now after two store visits, it’s pretty obvious. Where do you start, what is going on with P&G? They took over the store! You’re out of basics, from Cosmetics, Hosiery, Home and Tech Center. Seasonal Transition: Hello! What does “Coming Soon” mean to the consumer shopping today? I’m pretty confident, these are Corporate Driven decisions or excuses, from Organized Crime Rings, Pride, Inflation, Value, Aspirational Shoppers, Seasonal Flow, Excess Inventory Correction, etc.. Bottomline: Fill the counters and your sales problems are corrected. You are still the number #1 destination for Suburbanites! Looking froward to being a rabid Target fan again. Back to basics, “Blocking and Tackling”. #retail #retailindustry #retailtrends #retailexperience #sales #inventorycontrol #stores #shoppingexperience #brandexperience #brickandmortar #seasonal #merchandising #backtoschool2023 #halloween2023 #target #walmart #pg Procter & Gamble Scott Benedict

Substantial back end rebate likely negotiated by P&G requiring cash flow designed for basics from other suppliers. Only winner here is P&G, and that will be short lived as other big customers of theirs sniff out the "special" pricing and demand it for themselves. Hard for Target to come back from decisions and leadership lacking strategic, long term planning. Target is acting tactical, they will lose. Biggest loser is the customer who has passionately supported Target through a number of poor decisions.

Not all brands are created equal. Recent retail news included a mixed bag of headlines and store closures while brands like Target, Whole Foods Market, H-E-B, Costco Wholesale, and Nordstrom Rack have big plans for expansion in the coming years.   According to SRS' Karla Smith, who represents national retail anchors in new store site selection and disposition, "Retailers that are able to adapt to changing consumer demands and new development strategies will thrive. Target is a great example of a retailer meeting consumers where they are and adapting to stay relevant, exciting and convenient. Shoppers are looking for something different and there is a heightened awareness of accessibility, health and wellness that is not going away anytime soon.”   Click the ICSC article for more insights and retailer news ➡️ https://lnkd.in/dMz7r-J6   #RetailOpenings #TenantRep #TargetStores #RetailNews #CRENews #StoreOpenings #StoreClosings 

🛍️ Retail Revival: Foot Traffic Trends in Key Department Stores Key Takeaways and Industry Implications Advan’s foot traffic data from January 2022 to May 2024 reveals several key trends in the apparel retail industry: - Resilience of Discount Retailers: TJ Maxx and Ross Stores have demonstrated robust growth, underscoring the enduring appeal of discount retailers. Their ability to attract shoppers seeking value for money remains a significant strength. - Strategic Shifts in Traditional Department Stores: Kohl’s mixed performance suggests that traditional department stores must continuously innovate and adapt to changing consumer preferences. Strategic partnerships and store redesigns can drive foot traffic, but consistent execution is crucial. - Upscale Market Dynamics: Nordstrom’s growth highlights the complexities of catering to upscale consumers. While there is potential for strong foot traffic, it is essential to balance premium offerings with broader market trends. Read more: https://lnkd.in/eRcU87Xe #FootTraffic #Geolocation #Retail

Was recently interviewed by Retail Insider Magazine on "unifying the retail experience." I shared my thoughts on the critical nature of bricks-and-mortar stores, especially in malls, as a cornerstone of the community and the critical local ingredient in the omnichannel structure. I also discussed the economic challenges of pure-play e-commerce, and the superior business model of a well-run physical retail chain. While this may be a contrarian view, great retailers are crushing it -- even today. Shout out to the Showcase - Home of the Hottest Trends team -- keep doing great things! Article: https://lnkd.in/gYsaeays #ShowcaseMadeMeBuyIt #retail #trends #omnichannel

Last week we learned that The Source, a Bell owned retail chain would be rebranded and co-operated by Best Buy. As discussed in my 2024 trends post, we're expecting more consolidations in an already concentrated retail market. The question is how far will it go? That was my first reaction having seen this category rapidly consolidating landscape having witnessed first hand the gradual consolidation of Radio-Shack/Circuit City/Future Shop into now one brand in a CE category that continues to grow. Think back (or ask your parents/grand parents) how many electronic/furniture/clothing stores there were 20-30 years ago in your city or neighborhood.. you might be astonished to remember each category could have several within a relatively small population. Obviously the name of the retail game today is dominated by purchasing power and marketing dollars that make independent retail very challenging. Yet, a niche longtail continues to survive. It's that much more important we support them if they offer products & service we value.