Mon.Feb 13, 2023

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What You Need to Know About Price Anchoring

Wiser

Picture this: you’re scrolling on your phone, and you come across an ad for a pair of headphones that says, “Was $100, now only $75!” Sounds like a pretty good deal, right? Well, that’s a price anchoring strategy. Instead of just listing prices at a flat rate, companies will offer shoppers a discounted deal so they perceive the item as more valuable.

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Bark Lays Off 12% of Workforce, Seeks $12 Million in Annual Cost Savings

Retail TouchPoints

Bark will lay off 126 employees, approximately 12% of its total workforce, and curtail the use of some third-party vendors and contractors as it seeks to generate $12 million in annual cost savings. The cuts come as the company, known for its dog-themed toy and treats subscriptions, reports a net loss of $21.7 million for its Q3 2023, which ended on Dec. 31, 2022.

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444: The One Mindset Hack That Guarantees Success With Michael Hyatt

My Wife Quit Her Job

Today, I have a very special guest on the show, Michael Hyatt. Michael has scaled multiple companies over the years, including a $250M publishing company with 700+ employees. He is also the author of several New York Times, Wall Street Journal, and USA Today bestselling books, including Platform, Living Forward, Your Best Year Ever, Free to Focus, and his newest book, Mind Your Mindset.

Books 251
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Bed Bath & Beyond Winds Down Canadian Operations

Retail TouchPoints

Bed Bath & Beyond Canada (BBB Canada) will wind down its operations, according to a filing with the Ontario Superior Court of Justice. The filing noted that Bed Bath & Beyond’s U.S. business has “determined that it is no longer in a position to provide financial and operational support to BBB Canada,” and it will therefore close all 54 Bed Bath & Beyond stores and 11 BuyBuy Baby stores in the country.

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The Pragmatic Path to Composability: Adapting to the Future through Modularity

Speaker: Jason Cottrell

Brands used to look for a vendor who could do everything. Over time, one vendor was no longer enough to meet a brand’s needs, and they added, added and added. Now they need all their vendors to work well together. That’s composable, and only some will make the cut. As customers — and your board — expect you to be in new channels and to rapidly adapt to shifts in the market, the need for true composability is more crucial than ever before.

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Sales Technology: Saturated To Simplified

Forrester eCommerce

As sales leaders weather the economic storm of 2023, sales technology remains key in firms’ ability to win, serve, and retain customers. Decreased budgets and pressure to perform in a challenging economy are forcing sales leaders to optimize their technology stack.

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Stopping Ecommerce Fraud: How Technology can Help

Retail TouchPoints

For many, it comes as no surprise that increased digital adoption has enabled new forms of fraudulent activity as adversaries become increasingly hungry for their next target. With this, fraud continues to be a growing risk for businesses all year long, but especially during a time of economic downturn. According to one report , the total cost of ecommerce fraud to merchants will exceed $48 billion globally in 2023, from just over $41 billion in 2022.

More Trending

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EBay Eliminates 500 Jobs to ‘Create New Roles in High-Potential Areas’

Retail TouchPoints

EBay plans to cut 500 jobs, or approximately 4% of its workforce, according to a filing with the SEC. The cuts are aimed at helping the retailer “deliver better end-to-end experiences for our customers” and “support more innovation and scale across our platform,” according to a message CEO Jamie Iannone sent to workers that also was included in the filing.

Apparel 255
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The Past, Present, and Future of eCommerce with Shopify

Groove

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Camp Puts Curation at the Center of Revenue Creation with Gift Finder Tool

Retail TouchPoints

During the heart of the holiday season, experiential toy retailer Camp launched Gift Finder , an interactive tool designed to help site visitors find the perfect gift for everyone — from infants to adults. Now, the Camp team is reflecting on its success and implementing a plan to further improve the product discovery tool for year-round revenue creation.

Gifts 254
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What lies ahead for retail in 2023

RetailDive

Value-conscious consumers, rising layoffs and new leadership at some of retail’s major players are just a few forces shaping the industry so far.

Retail 132
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Turn Payments Into Personalization: Unlock the Value of Transaction Data

Speaker: Loreal Lynch, Everett Zufelt, and Michaela Weber

Once upon a time, in the vast realm of online commerce, there lived a humble checkout button overlooked by many. Yet, within its humble click lay the power to transform a mere visitor into a loyal customer. 🧐 💡 Getting checkout right can mark the difference between a successful sale and an abandoned cart, yet many businesses fail to make payments a part of their commerce strategy even when it has a direct impact on revenue.

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3 Keys to Optimise Your Content For High Conversion Rates

Digital Doughnut

Understanding the keys to content optimisation is crucial to achieving desired business goals. Optimisation can serve several functions, such as ensuring better search engine rankings or guaranteeing conversions.

B2B 98
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How the FDA stopped the momentum for CBD in food and drink

RetailDive

Several companies bought into the once-promising segment, but the government’s decision to not permit the ingredient in food and beverages has left producers unwilling to invest further.

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How to Price a Product on Amazon: Best Tips

Algopix

Pricing your product on Amazon is a complex and challenging process that requires proper planning and research. One of the most important aspects of selling on Amazon is pricing your product. Pricing your product correctly is essential for making a sale, and is an important part of creating a successful Amazon business. Understanding your costs, conducting competitive research, setting the right price, implementing dynamic pricing, and choosing the right pricing strategy can help you achieve max

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Store openings outpace closures in 2022: Coresight

RetailDive

Discount stores — driven by dollar stores — led retail openings, while apparel stores saw the most closures.

Apparel 130
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Get MACH Ready: Preparing Your Business for Digital Transformation

Adopting MACH technology means more than implementing new platforms. This type of digital change affects your organization at every level and requires a thoughtful approach to navigate challenges that crop up. The Get MACH Ready report, co-authored by MACH Alliance member Scott Canney in collaboration with Orium, commercetools, and Contentstack, will provide you with strategies to prepare your organization for a digital transformation.

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BigCommerce vs Magento: The Complete Guide

Groove

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Amazon continues to open suburban Go locations amid store struggles

RetailDive

The retailer will soon open a Go store in Frederickson, Washington, and has opened several others even as its Fresh grocery banner has paused its rollout.

Other 120
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How to Master eCommerce Email Marketing

Groove

Marketing 150
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The beauty of building the in-store experience

RetailDive

When it comes to building your business, getting new customers is only part of the equation. How do you get them to keep coming back?

Customer 111
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The Future of Multi-Vendor Commerce

In this on-demand webinar, discover how Logicbroker’s cutting-edge technology enhances the overall experience for both current and future customers and gain insights into how leveraging our seamless integration process unlocks new dimensions of efficiency and functionality. Plus, learn how our advanced marketplace features are set to revolutionize the way businesses operate, offering opportunities for growth and success within your multi-vendor commerce program.

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The Complete Guide to eCommerce SEO

Groove

SEO 150
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Bed Bath & Beyond Canada is going out of business

RetailDive

The struggling home goods retailer will no longer support the unprofitable operations, and all 54 namesake and 11 BuyBuy Baby stores will close.

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BigCommerce vs Shopify: Everything You Need to Know

Groove

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Beauty brand Saltair launches fitness collaboration

RetailDive

The company has released a seven-day workout program with The Sculpt Society centered around self-care and body confidence.

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Forrester Report: Demystifying The Technical Functions of POS Solutions

Understanding the intricate world of Point-of-Sale (POS) technology is a common challenge for tech buyers. When it comes to defining the functions of Point-of-Sale systems, the communications have yet to be standardized–—until now. Forrester’s new report, Demystifying The Technical Functions of POS Solutions, breaks through the noise and provides business leaders with the information and tools they need to evaluate the features of POS systems.

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eCommerce Advertising: The Complete Guide To Paid Media

Groove

eCommerce 150
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Target expands beauty assortment with ‘thousands’ of new products

RetailDive

The effort includes bringing in new Black-owned and inclusive brands, as well as more products that meet its Target Clean standards.

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Mobile eCommerce Checklist: Optimizing Your Online Store

Groove

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Top 5 Bad SEO Tactics You Should Always Avoid

Digital Doughnut

Businesses and digital marketers know that bad SEO tactics negatively affect rankings. Here are 5 bad SEO practices that you should always avoid.

SEO 97
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How Retailers Are Transforming Customer Experiences with Data & AI

Speaker: David Azoulay, Marc Stracuzza, Román Tejada, and Guest Speaker Sucharita Kodali

Imagine a retail landscape where every interaction is personalized, every decision informed, and every opportunity maximized 🤔✨ Join us for an exploratory journey into the heart of AI-driven retail innovation. We’ll unveil the transformative potential of AI and data analytics in shaping the future of omnichannel personalization and e-commerce.

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B2B eCommerce : Streamline Your Business Operations

Groove

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Dick’s Sporting Goods expands used gear trade-in events

RetailDive

In a partnership with SidelineSwap, which the retailer invested in last year, the two will host 200 resale events in the first half of 2023.

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How to Map Out An eCommerce Workflow

Groove

eCommerce 150
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Retailers join $950M commitment to Central America sourcing

RetailDive

Target and Columbia Sportswear are among private companies investing in the region as part of a White House call to action.

Retail 105
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The B2B Digital Commerce Playbook for Manufacturers

In this comprehensive guide, we delve into four essential ecommerce strategies for manufacturers. Each strategy is backed by a clear vision to ensure your efforts are aligned. Whether you’re a seasoned industry player or a budding digitalization champion, these strategies offer actionable insights to drive success. What will you find in the guide: Overview of how current events and external pressures impact business priorities.