Forrester eCommerce

FEBRUARY 28, 2024

After a retrospective review of the largest publicly reported breaches and privacy violations in 2023, here's what you need to know for 2024.

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Retail TouchPoints

MARCH 8, 2024

Off-price retailer Burlington Stores beat expectations for Q4 2023 (the 14 weeks ended Feb. 3, 2024), with total sales increasing 10% and comparable store sales growing 2% year over year. Still, O’Sullivan said he believes the 100 -store target is achievable in 2024, with Burlington planning to open approximately 140 stores this year.

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Improvements Operations Customer Retail 280

Forrester eCommerce

FEBRUARY 7, 2024

2023 was a confusing year: the consumers blew cold, and the economy blew hot. This year, in 2024, the economy […] The recession-to-be did not materialize, and the economic outlook wasn’t half as bad as consumers would have you believe.

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Consumer Customer Loyalty Customer Experience B2C 251

Retail TouchPoints

FEBRUARY 19, 2024

With this uncertainty in mind, I spent time on Saturday, November 25, 2023 seeking out early ecommerce sales data from Black Friday to gain a clearer understanding of how the market was performing. In January, we all learned that the 2023 retail year ended up exceeding our expectations, growing by 5.3% billion, up 7.5% from last year.

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eCommerce Marketing eCommerce Marketing Mobile 277

Retail TouchPoints

SEPTEMBER 11, 2023

Rent the Runway has lowered its revenue expectations for 2023, now saying it plans to at least match 2022 revenues of $296.4 This number is approximately 9% to 10% lower than original projections, which forecast 2023 revenue in the range of $320 million to $330 million.

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Customer Experience Customer Marketing Improvements 274

Retail TouchPoints

MARCH 14, 2024

stores in 2024 as it seeks to streamline its operations. million , in 2023 compared to 2022. Allbirds reduced its workforce in May 2023 in a move that the retailer expected to deliver approximately $7 million in savings. The retailer began revamping its overall strategy to address disappointing financial results in March 2023.

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Retail TouchPoints

MARCH 6, 2024

million in 2023, 12% higher than the $669.8 in 2023, to $287 , and boosted its number of active customers 2.5% , to 2.33 Warby Parker, which began life as a pure-play DTC retailer, opened 40 stores in 2023 for a total of 237 and plans to open another 40 stores this year. million generated in 2022.

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Retail TouchPoints

MARCH 21, 2024

retail sales for 2024 will increase by 2.5% increase seen in 2023, which saw sales reach $5.1 trillion in 2023. The NRF projects full-year GDP growth of approximately 2.3% , less than 2023’s 2.5% The question for 2024 ultimately is, will consumer spending maintain its resilience?” That’s slightly less than the 3.6%

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Retail TouchPoints

DECEMBER 13, 2023

Google Pay has partnered with Affirm and Australia-based Zip and will begin offering their pay-in-four services on Android devices early in 2024. The Zip integration is being termed a pilot launch that will begin in January, while the Affirm offering will be made available during Q1 2024. YoY and $2.5

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Merchant Services Payment Services Mobile Payments Mobile 273

Retail TouchPoints

JANUARY 12, 2024

As 2024 advances, the importance and reach of paid social media advertising will only continue to grow. Throughout 2022 and 2023, Facebook continued to maintain its prominent position as the leading social advertising platform across all ecommerce sectors. Social commerce value will keep on growing.

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Retail TouchPoints

DECEMBER 8, 2023

Dollar General is planning approximately 2,385 real estate projects for fiscal year 2024, including about 800 new store openings (including approximately 30 pOpshelf openings and 15 new stores in Mexico ), along with 1,500 store renovations and 85 store relocations. 2, 2023, an increase of 2.4% billion in Q3, which ended on Nov.

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My Wife Quit Her Job

JANUARY 23, 2024

In this episode, I’ll give you the run down on how both our businesses performed in 2023 including all of the highlights, lowlights and what we have planned for 2024. In this episode, I’ll give you the run down on how both our businesses performed in 2023 including all of the highlights, lowlights and what we have planned for 2024.

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Retail TouchPoints

DECEMBER 12, 2023

and Canada in 2024, including debuts in new markets for the fast fashion retailer. In May 2023 , Uniqlo, which opened its first North American location in 2005, revealed its plans to reach 200 North American locations by 2027. Uniqlo will open more than 20 stores in the U.S. Tacoma Mall, Tacoma, Wash. Tacoma Mall, Tacoma, Wash.

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Fashion Improvements Marketing Retail 264

Retail TouchPoints

MARCH 15, 2024

Dick’s Sporting Goods posted strong results in fiscal 2023, which ended Feb. 3, 2024, with $13 billion in net sales, 5% higher than the previous year, and a 2.4% Dick’s plans to open a total of 16 50K stores in 2024, consisting of 12 relocations or remodels and four new stores. increase in comp store sales.

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Sporting Goods Omnichannel Retail Customer Experience 289

Retail TouchPoints

MARCH 19, 2024

If Newton’s third law (“For every action there is an equal and opposite reaction”) holds true in marketing in 2024, we’re going to see some incredible creativity. Well, 2023 wasn’t the year of storytelling or branding; it was the year of AI. It might be able to simulate empathy. The key word there, though: mimicked.

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Retail TouchPoints

OCTOBER 19, 2023

1, 2024; Jelinek will remain with Costco through April 2024 in an advisory role. In May 2023 Costco delayed a planned membership fee hike, citing inflation’s impact on consumers as well as its growing member base. As part of a longstanding succession plan, Vachris will take the CEO title on Jan.

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Management Consumer Retail 262

Forrester eCommerce

NOVEMBER 28, 2023

Knowing that they can’t go it alone, we asked what areas they foresee needing the most external help with in 2024. We provided a list of 30 items in Forrester’s Q4 2023 B2C Marketing CMO Pulse Survey from which 171 US marketing […] As champions of the customer, CMOs are pulled in all sorts of directions.

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Retail TouchPoints

MARCH 7, 2024

next month, with an additional three stores planned for later in 2024. Dillon noted that in 2023 “we wound down the Sidestep banner and Atmos presence in the U.S. Dillon noted that in 2023 “we wound down the Sidestep banner and Atmos presence in the U.S. In 2023, Foot Locker generated $8.15 billion in sales, a 6.8%

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Operations Information Marketing Retail 162

Retail TouchPoints

FEBRUARY 26, 2024

After opening a net 23 new stores in 2023 for a total of over 400 locations, Sprouts Farmers Market plans to open 35 new locations this year, all in its new smaller-store format. Sprouts committed to shrinking its stores’ square footage by 23% as a way to reduce environmental impact in June 2023. Comp store sales also grew by 3.4%.

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Retail TouchPoints

FEBRUARY 2, 2024

net sales decline in Q4 2023, Tractor Supply still plans to open up to 95 brick-and-mortar stores in 2024, as well as complete its 10th distribution center. Comp store sales in Q4 dipped 4.2% ; for the full year of 2023, Tractor Supply’s net sales increased 2.5% , while comp store sales remained even with the prior year.

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Retail TouchPoints

OCTOBER 16, 2023

In yet another sign of the triumph of streaming, Best Buy will reportedly stop selling physical DVDs in-store and online beginning in 2024, according to CNBC and other media outlets. The retailer will continue to sell DVDs and Blu-Ray discs through the 2023 holiday season. million during the first six months of 2023, down from $1.05

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Retail TouchPoints

JUNE 3, 2024

Now, the discount retailer has removed self-checkout from approximately 12,000 stores since the beginning of 2024, including 3,000 in May alone, citing shrink as the primary reason for the change. He had identified a “significant headwind from inventory shrink” in a December 2023 discussion of Dollar General’s results. billion , a 6.1%

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Payment Services Supplies Management Improvements 278

Forrester eCommerce

JANUARY 4, 2024

Recently, Forrester hosted predictions events across Delhi, Bangalore, and Mumbai to discuss what awaits business leaders in 2024, providing me with the opportunity to connect with many of the 250+ CXOs who attended. A few key topics bubbled up to the top and genAI, not surprisingly, was one of them.

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Retail TouchPoints

JANUARY 15, 2024

Artificial intelligence dominated headlines and water cooler conversations in 2023, and 2024 is looking to be no different (if the conversations and showcases at CES and NRF’s Big Show are any indication). With all that in mind, it seems clear that AI is set to have another big year in 2024.

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Retail Customer Experience Technology Operations 312

Retail TouchPoints

SEPTEMBER 15, 2023

The retailer also is promising enhancements by early 2024 that will include in-app ecommerce, personalization capabilities, an “evolved” rewards experience and a mobile experience for sister company Dollar Tree. million by OSHA for repeated safety violations in August 2023. Dollar Tree could use some positive news: it was fined $1.35

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Forrester eCommerce

FEBRUARY 21, 2024

With GPT-4 Turbo’s launch in late 2023, Google’s announcement of Gemini, and Microsoft Copilot’s Superbowl ad, consumers are now faced with plenty of options for consumer-facing gen AI tools. Welcome to the second installment of Forrester’s Generative AI Consumer Outlook Quarterly Blog Series! You’ll be able to find the first one here.

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Forrester eCommerce

AUGUST 8, 2023

For 2023, Forrester recommended a steadfast approach to technology decisions to reconcile any hasty investments made in the pandemic years. With that work now forming the foundation for future business growth, it’s time to accelerate into 2024 with a pragmatic approach to innovation.

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Retail TouchPoints

DECEMBER 13, 2023

Trend 2: Technology will Elevate Omnichannel Performance and Key Value Props Nearly two-thirds ( 63% ) of respondents to Retail TouchPoints’ annual Store Design & Experience Survey shared that better integrating technology into the experience was a top priority for them in 2023. Once you have a baseline, you can do a lot with that number.

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Retail TouchPoints

SEPTEMBER 29, 2023

The iconic brand also will expand to cruise ship and airport venues, with its first airport store scheduled to debut at Dallas/Fort Worth International Airport in November 2023 via a partnership with Duty Free Americas. Retail Group. UK, India, Dubai and Mexico. Toys ‘R’ Us marked its initial return to U.S.

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Toys Specialty Retailers Games Shipping 298

Retail TouchPoints

JANUARY 17, 2024

Ikea , which debuted its Plan and Order Point store format in Dallas in November 2023 , will add four additional locations this year, with more to follow. The new Ikea stores will be located in Austin, Texas (scheduled for summer 2024), the Atlanta metro area, and two locations in greater Los Angeles.

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Forrester eCommerce

FEBRUARY 21, 2024

The first reports on the climate impact of organizations under the EU’s Corporate Sustainability Reporting Directive (CSRD) won’t trickle in until 2025 for the 2024 financial year. But that hasn’t stopped independent […]

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Retail TouchPoints

MARCH 25, 2024

The Retail TouchPoints team is reporting on all the news breaking before, during and after the Retail Innovation Conference & Expo , taking place June 4-6, 2024, at McCormick Place in Chicago. After unveiling a “complete pet care experience” in New York City’s SoHo during the summer of 2023, the retailer is thinking even bigger.

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