In today’s top retail news, Benetton Group is teaming once more with EDITED, while CarLotz Inc. reported that revenues rose 12 percent for the third quarter of 2020. Plus, Amazon is making its next big fashion move through a personalization play with Made For You.
Benetton Group Teams With Retail Intelligence Firm EDITED
European fashion firm Benetton Group is collaborating once more with EDITED, the retail market intelligence company, as a “necessary platform” for its future three-year plan. EDITED Retail Market Intelligence provides live data on more than 140,000 brands and retailers. Brands like Zara, Puma, John Lewis, Marni and Tommy Hilfiger use EDITED’s market intelligence solutions.
CarLotz Reports 12 Pct Rise In Net Revenues
CarLotz Inc., a consignment-to-retail used vehicle marketplace, said Wednesday (Dec. 16) that its overall revenues increased 12 percent for Q3 of this year to just under $30 million, up from $26.5 million during the same period in 2019, per an announcement. Contribution margin per unit grew by 188 percent to $1,883 in Q3 of this year from $655 in Q3 2019. The company is also raising its Q4 expectations for gross profit, contribution margin and revenue.
Amazon Expands Data-Driven Fashion Push
Amazon is making its next big fashion move with a significant personalization play with the rollout of Made For You. The offering is meant to let consumers truly tailor their clothing by making T-shirts to their precise measurements. It has users offer two photos of themselves, body style, weight and height to make the shirt.
Best Buy Caters To Consumer Preferences With In-Store Digital Upgrades
Best Buy announced this week that it is modifying some store formats and delivery offerings to contend with eCommerce orders and a dramatic rise in curbside pickup. Curbside pickup hours have been lengthened, with the claim that almost every store has the ability to have orders ready in one hour. The retailer’s employees are also delivering orders up to 10:30 p.m.
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