In today’s top retail news, Retail Ecommerce Ventures (REV) indicated that the migration to eCommerce and trends such as “quest for comfort at home” were behind formidable sales at Pier 1 Imports and Dressbarn on Cyber Monday/Black Friday, while Frasers Group said it is in discussions to buy Debenhams. Plus, the new hot thing in “Big Retail” is providing in-house advertising on the web to suppliers, with Walgreens following Walmart and Amazon into the retailer-as-ad-agency trend.
eCommerce Shift Helps Fuel Strong Sales at Pier 1 Imports, Dressbarn
The incubator that relaunched Dressbarn and Pier 1 Imports this year, Retail Ecommerce Ventures (REV) noted that the shift to online shopping and trends like the “quest for comfort at home” propelled strong sales at the two brands on Cyber Monday/Black Friday. Signature home fragrances were the most popular products at Pier1.com. REV was begun by Alex Mehr and Tai Lopez in 2019 to give life to firms that have struggled to succeed in the era of digital shopping.
Frasers Group Could Purchase Debenhams Department Store Chain
Frasers Group said it is in talks to buy the Debenhams department store firm from administrators. Frasers said it hopes an arrangement could come to pass and that jobs at Debenhams can be kept, but it noted that "there is no certainty that any transaction will take place, particularly if discussions cannot be concluded swiftly,” per a published report.
Walgreens Follows Amazon, Walmart Into Retailer-As-Ad-Agency Trend
The new hot trend in “Big Retail” is providing in-house advertising on the web to vendors. In unveiling the rollout of Walgreens Advertising Group this week, the company said it would harness “advanced data modeling” to link brands straight with audiences in a digital ecosystem that “surpasses the industry method of digital media buying” with the help of over 9,000 retail locations and 100+ million loyalty members.
BigCommerce EMEA Chief Stresses Agility; Urges Retailers to Look Ahead to 2021
Agility is what BigCommerce is bringing to the table amid COVID-19. “I think it’s all come back to the fact that the businesses that are thriving in this sort of situation are ones that can move quickly,” Jim Herbert, BigCommerce general manager for EMEA, told PYMNTS. “They need to have the agility to kind of cope with the sort of changing conditions, and that’s what we’re seeing in the retail world."
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