Today in Retail: Mastercard Expects Thanksgiving Week Spending Surge; Private Equity Firrm Acquires Casper

In today’s top retail news, consumers are expected to spend heartily in the run-up to and days after Thanksgiving, while direct-to-consumer mattress company Casper Sleep is set to go private less than two years after its IPO. Also, Rue Gilt Groupe said in a filing with the U.S. Securities and Exchange Commission that it sees plenty of opportunity for growth in the off-price category, and Cart.com is buying online sales company 180Commerce to increase its reach.

Shopping Frenzy Expected Thanksgiving Week as People Hunt Deals, Inventory

Shoppers are anticipated to hit stores and apps in full force Thanksgiving week Nov. 22-28 to get a jump on holiday deals and inventory, with overall retail sales forecast to go up 10% year-on-year and 12.2% compared to two years ago, according to Mastercard SpendingPulse. Digital sales alone are anticipated to rise 7.1% versus last year and 50.2% compared to 2019.

Mattress Company Casper to Go Private

Casper Sleep is set to be acquired by private equity company Durational Capital Management in a deal that will take the mattress company private less than two years after making its public debut and its co-founder step down from his role as chief executive. The deal is expected to be finalized in the first quarter of next year, subject to customary closing conditions, including Casper stockholders’ approval.

Rue Gilt: Consumers Underserved by Current Discount Retail Offerings

Rue La La and Gilt are hoping the acceleration of eCommerce adoption over the past two years can get investors as excited as shoppers seem to be about the company, filing for a public listing with the U.S. Securities and Exchange Commission (SEC). Rue La La was founded in 2008, offering luxury brands at up to 70% off full-price retail. In 2018, the company acquired Gilt, which has a similar business model but only 7% overlap in customers with Rue La La; and in 2019, Simon Property Group invested in the company and added Shop Premium Outlets, a digital outlet marketplace, to form the Rue Gilt Groupe.

Cart.com Acquires 180Commerce to Boost Online Growth

eCommerce-as-a-Service platform Cart.com has acquired online sales company 180Commerce to help the company increase the reach of its sales channel. 180Commerce offers a suite of services, including advertising strategy, content creation and optimization, customer service and reviews management, analytics and inventory planning.