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The Biggest Mall Owner In The US Is Going Online

Posted by Harriet Schneider on Nov 12, 2019 8:00:00 AM

The biggest mall owner in the U.S., Simon Property Group, is teaming with online shopping site Rue La La’s parent company to launch a new kind of website for people looking for deals.

The real estate company announced Wednesday it’s partnering with Rue Gilt Groupe, which is backed by Michael Rubin, CEO of Fanatics’ parent company Kynetic, to create a new e-commerce business for discount shopping.

Simon has been testing the website “ShopPremiumOutlets.com” since March, building on its premium outlet centers business. The mall owner operates dozens of premium outlet centers nationwide and a handful overseas. It’s been working with certain retailers at those centers — which include Woodbury Common Premium Outlets in New York — to test selling merchandise together on this site. It says it has signed on more than 2,000 designers, and has about 300,000 products.

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Topics: Fashion & Retail, Retail, Fashion & Apparel, Infor Retail, Online Retail, Fashion PLM, CloudSuite Retail

Is Clothing Rental The Panacea For The Ailing Fashion Retail Industry

Posted by Harriet Schneider on Oct 24, 2019 8:00:00 AM

A recent report valued the rental subscription market at around 1 billion dollars in 2018 and forecast it grows more than 20 percent a year, reaching 2.5 billion dollars by 2023. This trend isn’t lost on traditional retailers: over the last year everyone in the industry seems to be launching their own clothing rental service.

Recent research from GlobalData confirms the explosive growth of clothing rental and / or subscription services: it’s expected to reach 2.5 billion dollars value by 2023, prompting brands such as Banana Republic, Macy’s, Urban Outfitters, Trunk Club or J.C. Penney to announce their own apparel rental services.

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Topics: Fashion & Retail, Retail, Fashion & Apparel, Infor Retail, Online Retail, Fashion PLM, CloudSuite Retail

Malls Are Dying, But There’s A 3-Step Plan That Can Save Them

Posted by Mitchell Chi on Oct 17, 2019 8:00:00 AM

I read a recent article in Forbes that talked about upheaval in the shopping mall industry. There's a link to it at the end of my commentary and I would really appreciate hearing your thoughts on it as well. Here are mine:

“HURRY AND DIE MALLS."

Your days are over. People want a social experience, not products. Mark-downs and sales clerks. As we all know, the hype, “Retail is Dead” is just that, hype. Consider the following. 87% of consumer retail is transacted in brick & mortar, physical stores. Yes, you heard me…87%. In fact, a recent NRF report stated retail sales, in stores, are up 4.9%. NOT e/comm, by true shopping and social interaction.

The net is, if you fear Amazon will put you out of business, shame on you! You “owned” your customers for decades, but did you do anything to earn their loyalty except showcase your products? 30% of my personal shopping is on-line. Mostly under $50 commodities. 70% is spent with retailers who invest in their employees training & wages, innovative products, and exceptional customer service, both pre and post sale. Malls are (I hate this word), “transforming” into social town centers with entertainment (movies, concerts, festivals), attractions (claiming walls, work-out centers, VR and the like), hard goods (driver training hosted by auto manufacturers, cooking classes hosted by appliance manufacturers and the like) and most of all, a place to stop texting and start socializing”. Mall dead? Yes, while town centers are thriving!”

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Topics: Fashion & Retail, Retail, Infor Retail, Online Retail, CloudSuite Retail, Shopping mall

Mobile Retail Is Alive, And Consumers Are Here For It

Posted by Harriet Schneider on Oct 3, 2019 8:00:00 AM

Stop and think about a day you could go without your smartphone. You are checking your calendar to see when or if that is even possible. And yet you may not realize that checking email, texting your doctor or tracking your children’s usage is only part of the life your smart device breathes into you. Last year, Americans made almost 30% of purchases through a mobile device. Next-day and same-day delivery created a market for mobile shoppers and retailers are responding.

The one where the market creator remains the market leader

Amazon, the retail Goliath, created the market for instant gratification with its online presence and product availability.

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Topics: Fashion & Retail, Retail, Fashion & Apparel, Infor Retail, Online Retail, Fashion PLM, CloudSuite Retail

Is There An Unrelenting Collapse Of The Middle In Retail?

Posted by Harriet Schneider on Sep 24, 2019 10:00:00 AM

We thought this was an interesting article. Published by Forbes this month it talks about how it’s a virtual certainty that this year will end with physical stores sales not only being up year over year (again) but also, according to eMarketer, contributing more incremental sales growth than e-commerce.

Great news but for all retailers? Here's what Mitchell Chi, ICCG's General Manager - Americas, Enterprise Software has to say...

My thoughts about the collapse of the middle…

Did you know that 83% of retail shoppers enjoy socializing with friends centered on physical stores? Some retailers, when pressured to increase margins, focused on cutting wages, training and staff. They shifted spending to store displays, traditional advertising, and  a poor product assortment. These retailers deserved to die. Good riddance. 

But all of this makes the mid-market ripe for a low cost, “social retailer.” One like Primark. Great selection, well trained staff and FUN. My go to store for weekend, lay around the house clothing. 

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Topics: Retail, Infor M3, Retail Trends, Online Retail, CloudSuite Retail, Cloudsuite Fashion & Apparel, CloudSuite PLM

What Does The Store Of The Future Look Like? Think Beyond Inventory Dispenser

Posted by Harriet Schneider on Feb 21, 2019 8:00:00 AM

By Guy Courtin - Vice President Industry & Solution Strategy, Retail and Fashion at Infor Retail

Abandon all hope, all ye who enter stores. Consumers are taking their shopping online, and there’s no turning back. Or is there?

For all the hype and horror-stories concerning retail’s physical demise, data shows that only about 10% of all U.S. transactions came through e-commerce in 2018. While it still accounts for just a small portion of all retail sales, e-commerce continues to grow at a steady rate of about 8% per quarter. Bottom line, physical stores still have a prominent role for retailers and will continue to do so for a long time.

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Topics: Retail, Supply Chain, Online Retail, E-Commerce, Technology

5 Things Every Retailer - Including You - Should Know Going Into 2019

Posted by Harriet Schneider on Jan 22, 2019 8:00:00 AM

Did last year's Black Friday mark the last "traditional holiday rush" as we know it? It just could be and the reason is that retailers of all sizes can see the writing on the wall, as technologies like artificial intelligence (AI) and the internet of things (IoT) fundamentally change customers’ approach to the traditional shopping experience.

This article from Entrepreneur will provide some insight into digitization, AI and other emerging technologies. Is your business ready for the new technology?

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Topics: Retail, Online Retail, E-Commerce

How Are You Analyzing And Adjusting To The Mobile Shopper?

Posted by Harriet Schneider on Dec 20, 2018 8:00:00 AM

Every retailer is facing a similar challenge. If you are a retailer and constantly feel the pinch from online giants like Amazon and Google, you have an opportunity to gain back control and competitive advantage with more personalized products and services, building that intimate relationship that these giants simply cannot provide.

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Topics: Retail, Online Retail, Mobile Shopping

There’s No Such Thing As Free Shipping

Posted by Harriet Schneider on Jun 28, 2018 8:00:00 AM

 

Matt Simonsen, Director of Retail Strategy at Infor talks about 3 ways that retailers can exceed customer expectations with a networked supply chain.

When it comes to their orders, customers want them fast and they want them free. But these two forces are often in direct conflict inside the supply chain, where planning and production typically take place months in advance, and inventory is widely distributed among a geographically diverse set of stores and warehouses, logistics providers, and factories. The question for many retailers becomes, “How much margin am I willing to sacrifice to satisfy my customer?”

Retail powerhouses like Amazon and Walmart have conditioned customers to expect their orders in days, if not hours. And a growing number of consumers have become comfortable using options like click-and-collect to secure an item online and pick it up shortly thereafter in a store, or rely on third-parties like Instacart to do their shopping for them.

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Topics: Retail, Retail Trends, Online Retail

Customers Expect Something In Return For Their Personal Data. Can You Blame Them?

Posted by Harriet Schneider on Jun 26, 2018 8:00:00 AM

In this episode of Reinventing Retail, listen to Vineet Chaudhary, co-founder of Trendage, a fashion and technology personalization company enabling 3.5 million users to digitally mix and match clothing using avatars, AI, and a vast product database. The discussion centers on how apps like Trendage are leveling the playing field between retailers and consumers, giving them both the tools and reciprocity to establish a two-way street when it comes to giving up personal data in return for great customer experiences.

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Topics: Retail, Retail Trends, Online Retail

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Welcome to our Blog - ICCG Insights!

Embracing thought leadership as a pathway for growth, represents the true spirit of progressive change that will make a difference in technology-driven industries. As a consulting company, ICCG customers look to us as their value-added resource. They expect us to be proactive about solving their immediate challenges and we don’t take that responsibility lightly. It is this that drives us to share our best practices, knowledge-base, years of experience, and tried and true methodologies. These have been the hallmarks of our corporate brand.

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