Consumer electronics company Best Buy operated all of its Future Shops in Canada, however, soon 66 of those brick and mortar locations recently shut their doors for good. The remaining 65 were closed for one week to undergo rebranding as Best Buy stores.
Nordstrom, retailer of luxury goods and fashion, has pledged to spend billions on e-commerce in 2015, with 35% of their sales spent on technology over the next five years. Nordstrom wants to integrate the in-store and online customer experience to be more seamless, and is currently testing one facet of that initiative in a New Jersey store.
Retailers are concerned with the customers' needs when it comes to the omni-channel experience, and are streamlining the process as much as possible with technology installations in-store, implementing click to collect, and other features. However, despite these efforts, customers aren't satisfied with the performance of retailers, according to a new survey by Accenture, a consulting, technology and outsourcing service company.
Amazon is making new strides towards “The Internet of Things,” the movement concerned about connecting nearly every object in the home, with a new invention that will let Prime members get grocery and household goods replenished at the touch of a button, literally. On March 31, Wired reported that Amazon was introducing “Amazon Dash Buttons,” small buttons that connect to Amazon via your home's Wi-Fi network, and when the Prime user is about to run out of goods and order more, they just press the button and the products show up at their doorstep a few days later, helping them bridge the gap between running low and running out.
Loyalty programs have increased in popularity significantly through all retail categories, from grocery to clothing, but all of these programs have one thing in common: They're good for only one company. That's not the case anymore with Plenti, the first cross-brand loyalty program of its kind. Plenti was launched by American Express and will soon be active this spring with several noted retailers on board. Among them are Macy's, Rite Aid and AT&T, along with ExxonMobil, Nationwide, Hulu and Direct Energy.
Shopping retailer Amazon not only lets merchants sell items on Amazon.com, it also let merchants set up their own webstore with a program called Amazon Webstore. The retailer has offered the e-commerce platform since 2010, but now the retailer will phase out the program.
In February 2014, Forbes ran a piece entitled “Year of Reckoning for Brick and Mortar Retailers” about the shift in the shopping mentality of the American consumer. For years, Forbes said, it was as simple as establishing a storefront near housing developments or establishing properties. In these central locations, retailers would flourish, particularly with the popularity of the shopping mall.
Electronics retailer Best Buy had a robust holiday shopping season in 2014, as one of the most visited sites online and $10.9 billion in sales, with a $1.49 billon conducted online in the 9-week period. The retailer has recently invested in new technology to improve the customer experience, with the addition of kiosks, micro-sites, and by embracing an omni-channel approach to improve the customer shopping experience.
Amazon is known for having millions of items in multiple merchandise categories, and now the company is offering a niche selection of products. The retailer announced earlier this month the arrival of “Amazon Exclusives,” which features early access to innovative products such as electronics, toys, sporting equipment, apparel and more.
Returns are an essential part of the retail experience, and some stores have remarked that having in-store returns for online orders has increased their business. It's with this in mind, likely, that Target has chosen to change their return policy on all of their owned and exclusive brands, and extend the return window from 90 days to a full year, making it one of the most generous in the retail industry.
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