The Retailer’s Guide to Planning a Profitable Event
article by Heartland, Aug 29, 2023
To succeed in retail today, you need to create a positive experience. With so much ecommerce competition, it takes more than great merchandise to bring shoppers into your physical store. But that right there is an advantage brick-and-mortar stores will always have over ecommerce: There is a physical space. And how you embrace that can make a huge difference in your sales, customer loyalty and the future of your brick-and-mortar.Read More
How Giving Back to the Community Can Elevate Your Brand and Help Grow Your Small Business
article by Heartland, Aug 22, 2023
Every day, more and more people step up to contribute to charities on an individual and corporate level. The reason is simple: Consumers care about making a difference. And research shows that their desire to do so affects where and how they choose to make their purchases, making philanthropy a powerful business tool. How your brand approaches giving back can make a big impact on your popularity, and profitability.Read More
Retail Leaders Struggle to Find Budget for Emerging Tech Goals, Study Finds
article by Retail Dive, Aug 22, 2023
Long before the recent peak in generative AI interest, emerging technology had to prove its business value. Leaders weigh the cost of launching new tech against the advantages it can produce.
Gartner expects AI deployments to have an immaterial impact on global IT spending levels this year. Instead of building standalone AI tools in-house, adoption will most likely pass through existing software platforms as vendors add new capabilities.Read More
Canadians Have Mixed Feelings About Security Measures in Retail: Leger Poll
article by Retail Insider, Aug 20, 2023
Recently, retail stores in Canada have faced criticism for implementing additional anti-theft measures to deter shoplifting.
But a recent poll by Leger indicates Canadians are most supportive of retailers implementing security cameras (88 per cent), electronic anti-theft alarms (85 per cent), and security guards (78 per cent).
The poll also found that Canadians are least supportive of retailers implementing limits to the number of customers allowed in stores (32 per cent), customers needing to leave bags in a locker/with an employee while shopping (32 per cent) and/or requiring customers to show ID to make a purchase (17 per cent).Read More
Amazon Brings Sponsored Product Ads to Third-Party Apps, Sites
article by Retail Dive, Aug 17, 2023
Amazon is looking to give brands more bang for their buck with an expanded footprint for its Sponsored Products ads. The new capability is part of Amazon’s ongoing efforts to keep its over 10-year-old ads product fresh in a rapidly evolving digital landscape that’s seen more retailers stand up advertising businesses.Read More
Canada’s Luxury Apparel Market Emerges as Global Contender Despite Challenges: Trendex Report
article by Retail Insider, Aug 15, 2023
The past three years have been a truly unprecedented period for luxury apparel retailing in Canada resulting in Canada being recognized as a major world wide market for luxury brands.
During the period, while the size of the Canadian luxury apparel market decreased because of COVID, the competitive intensity within the market increased significantly along with an unprecedented luxury retailing construction related boom, says a new report by Trendex North America, a marketing research and consulting firm.Read More
What is Subscription Ecommerce – and How Can You Benefit?
article by Global Payments, Aug 14, 2023
Subscription ecommerce business has accelerated over the past decade, continuing at 71% compound annual growth rate (CAGR) by 2028. Proof of its popularity: 78% of adults worldwide currently have subscription services.
Subscription-based businesses have popped up to serve audiences across many industries. Coffee connoisseurs can have their favorite Kicking Horse Coffee delivered to their doorsteps every month. Pet lovers can upgrade monthly Woof Pack with recurring pet food, supplements and seasonal supplies.Read More
Canadian Business Associations Rally to Extend CEBA Repayment Deadline Amid Looming Crisis [Interviews]
article by Retail Insider, Aug 13, 2023
Industry associations representing thousands of Canadian businesses are urging Deputy Prime Minister Chrystia Freeland to extend the Canada Emergency Business Account (CEBA) repayment deadline.
Not doing so could put thousands of Canadian businesses at risk of closure.
With the CEBA repayment deadline on Dec. 31, 2023, if the loan is not repaid by then, small business owners will lose the up to $20,000 forgivable portion and pay the entire amount at a five per cent interest rate.Read More
Blockchain Technology is Revolutionizing Payments
article by Global Payments, Aug 10, 2023
From science fiction to financial services, blockchain technology is gaining popularity. Especially in financial services. Payments accounted for 44% of global blockchain revenue in 2022. And by 2030, blockchain revenue is expected to reach $1.4 trillion worldwide.Read More
Retail Jobs Stay Flat in July: Statistics Canada
article by Retail Council of Canada (RCC), Aug 9, 2023
Canadian retail’s job market remained stagnant in July 2023, according to the latest report from Statistics Canada.
According to the report, retail jobs fell slightly year-over-year (-0.2%) and saw similar marginal gains (0.1%) from June 2023 to July 2023. A national downturn in roles was offset by increases seen in Quebec (8.8%, 537,000 jobs), Manitoba (15.2%, 77,200 jobs), and Nova Scotia (10%, 66,300 jobs). Province-by-province statistics can be found on RCC’s Retail Pulse Dashboard.Read More
Retailers Reconsider Self-Checkout Strategy as Theft Soars in Canada [Interview]
article by Retail Insider, Aug 7, 2023
It appears as if retailers, such as Walmart, are rethinking the self-checkout offering at stores and some retailers are either pulling them out or not launching them as theft related to a cashier-less experience continues to grow.
Melinda Deines, Strategist: Brand & Marketing with design consultancy SLD, said even a consumer who has little intention of stealing is more likely to do so at self-checkout. Consumers who are inclined to steal can now do so more easily.Read More
What’s Working For – and Against – Retailers Heading into the Holidays?
article by Retail Dive, Aug 2, 2023
As the summer winds down, retailers are preparing for the all-important back-to-school and holiday shopping seasons. So far in 2023, despite inflation, economic uncertainty and a prioritization of spending on experiences over goods, consumers have come through pretty well for the industry. Yet, even with the first half of the year over, it’s hard to know what’s ahead.Read More
Canadian Retailers Struggle to Innovate Loyalty Programs Amidst Consumer Dissatisfaction [Interview]
article by Retail Insider, Aug 1, 2023
When it comes to retail loyalty programs – is Canada falling behind? Lia Grimberg, a loyalty expert in Canada and Principle and Consultant at Radicle Loyalty says yes, and discusses the current state of loyalty along with its future.
Programs are everywhere and more brands are getting on board with having their own reward programs – however, the traditional “spend a dollar, earn a point” is causing programs to be the same and consumers are not seeing innovation.Read More