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I was in Neiman Marcus a few weeks ago and it was depressing and nearly empty. There was no joy, there was no energy, there was no "elevated" customer experience. They don't even have a customer service department anymore. Merchant/showman Stanley Marcus would not believe what has become of his company. I feel like we're just watching department stores go away, and no one really cares. And then I read this article -- pretty inspiring. The digital/social strategy -- and this family's passion for what they do -- are really driving the brick and mortar success. #retail #socialmedia #luxury #hirshleifers #customerexperience

5 Things To Know About Stork 📌 It is the first and only AI-driven digital warehouse. 📌 One of the company's offices is located on 5th Avenue in New York, which is one of the most famous and expensive shopping streets in the world. 📌 Stork originally started only dealing in fine jewelry. Now they're in more than seven categories. 📌 The company's co-founder has sold jewelry worth over $100 million. 📌 We are an exclusive community that unites businesspeople in the luxury goods industry, fostering collaboration and innovation in this exclusive sector. #businessgrowth #stork #business2business #luxuryfashion #luxurygoods #businessdevelopment #businesscommunity #businessgrowth #b2b

I know the jewelry trade well, but one thing perplexes me about it. A brand will invest tons in acquiring clients to sell them a timeless piece they’ll cherish. But, after the sale, another jeweler will care for the piece in place of the brand as a dedicated repair business. Should the client’s sentiment about that purchase change (for various reasons life may have in store), yet another jeweler will buy it from them and profit from its resale, gaining a new customer based on the original brand equity as a vintage or estate business. As a brand, why not keep your client and their purchase across this entire lifecycle? It would drive repeat purchases from clients with an option for repair or trade-in on goods that retain their worth and acquire next-generation customers who will buy those pre-worn items elsewhere. Today, after the initial sale, the brand is lost at every touchpoint for client experience and opportunities for increased lifetime value — not to mention the sustainability benefit that designing reuse into a circular business model affords. I hate to increase the peer pressure on branded resale, but apparel, outdoor, and footwear brands are already doing it! I'm proud of the work in resale technology we do at Trove, where company founder and executive chairman Andy Ruben recently led this kind of discussion amongst big thinkers in the jewelry industry at #ConversationsInParkCity, sponsored by Jewelers Mutual Group. I am always excited to see where this industry innovates next. 

Ecomm brands are spending $$$$ on different tools that drive loyalty, retention, engagement, sustainability, etc but there is one solution that can do all that for less: branded resale. Let our brand success stories speak for themselves 👏

ICYMI ... here are retail things we have been discussing this week on LinkedIn: 🎧 What is the Saks Fifth Avenue and Neiman Marcus Group merger really all about? Find out more in this great podcast abut the potential deal: https://bit.ly/4dlskpQ 🏬 Saks in San Francisco requires all shoppers make an appointment. It may prevent crime and help to scale down staffing, but will it wash with shoppers?  https://bit.ly/3WlKGzZ 🍝 Eataly is a store where passion for food shines through with brilliant product curation - but how can these lessons be applied in mainstream retail? https://bit.ly/3YEmUCf 🎯 There are increasing pressures on shop-floor staff at Target. This is contributing to a decline in standards and is impacting perceptions: https://bit.ly/4fp57Vh 🛋️ Overstock buying Bed Bath & Beyond made some sense. Scrapping the Overstock name and bringing it under the new brand did not: https://bit.ly/4fmBa8n 👙 The new Victoria’s Secret store format is lighter, brighter and more engaging - but is it enough to turnaround the brand’s fortunes? https://bit.ly/4dgSWrH 👩🏽⚖️ Italian authorities will investigate Dior and Armani for their commercial practices, putting luxury firms on notice that they're not above regulations: https://bit.ly/4fhDgX3 🎓 The back to school season has started earlier than ever, and consumers are moderating spend in some categories. What are the prospects for retailers?  https://bit.ly/3Ykloom 👖 Hollister has been in the shadow of Abercrombie & Fitch this year, but the brand may make an outsized contribution to growth in the years ahead: https://bit.ly/3LFLRoP 🚫 Conn’s filed for Chapter 11 bankruptcy and will close all of its stores. Is this down to the market or internal stumbles? https://bit.ly/4cT3XQi 💵 Target’s new Dealworthy brand has been expanded into apparel. But is it really good value and will it help with customer retention efforts? https://bit.ly/4djNtQS 💎 Japanese luxury is booming, but all is not as it seems - growth is being driven by bargain hunting Chinese consumers who are not spending at home: https://bit.ly/3YlM3Bf 🗳️ The election is looming. What impact does the election itself have on spending and what will a new administration mean for retail?  https://bit.ly/3Ssm9rL 🇮🇹 Made in Italy is often seen as a marker of quality, has that position been undermined as brands pulled up for the mistreatment of workers?  https://bit.ly/3ydBvcW #retail #retailnews #economy #ICYMI #RetailICYMI

How do Men's Wearhouse and Jos. A. Bank Clothiers flawlessly navigate multiple peaks - from year-round weddings, to homecoming, to prom - while balancing both their retail and rental businesses? With Invent Analytics' AI-powered solutions, they're achieving granular inventory optimization for each season and occasion. Learn how they always have the right product/size in stock to meet customer demand. 👉 https://lnkd.in/gTa9Q83s #inventorymanagement #rental #retailtech

We know things can get pretty busy and can make pen and paper seem like your trusty sidekick for order entry for your customers, whether at a tradeshow, showroom or just a typical day at the office. it’s just easier and faster for you, they’re right there! However, what if we told you that tech can help and using a computer for entering orders could be more practical, making it also quick and easy to enter that order before you forget it. There is a way that will make you think again and we will be offering it for you!. Stay tuned to our sneak peak tutorial tomorrow 👀👀 #marketplace #b2bmarketplace #apparel #brandowner #fashion #apparelindustry #retailbuyers

795 Madison was on the market for many years before we stepped in and successfully closed the deal. Andrew Schulman and Ryan Schimel secured a long-term lease for an international men's brand here. Can you guess which brand it might be? We can't wait to share more about this exciting new addition to the famous #MadisonAve! DM us or comment below for your best ideas about who is coming. #RetailLeasing #MadisonAvenue #NYCRealEstate #CapricornRetailAdvisors #RetailSpace #ShopNYC #StoreOpening #NYCShopping #LuxuryRetail #RetailNews #NewInNYC #ShoppingDistrict #FashionRetail #MensFashion #RetailTherapy #NewStoreAlert #BusinessSuccess #CommercialRealEstate #LeasingNews #FashionHub #NYCEvents #RetailWorld #BusinessDeal #IconicLocations #RetailMarketing #NYC #retailstateofmind

Make Me Up for 'Looking Good'! This is what we want when we see ourselves on screen in the post covid digital meetings era. The solution: use make up. Consequence: make up sales experience a significant increase. Space NK CEO Andy Lightfoot confirms: make up sales are up by +36% from April to September 2023 over 2022. Overall company turnover is expected to rise by a similar percentage, +37% up to £185, million. The critical factors of success for Space NK are twofold: 1. Offer a selection of exclusive brands, not easily accessible elsewhere. 2. Expand the network in prime locations, between 8 and 10 new stores in the UK in the next 2-3 years. For sure, the customer experience in store is excellent driven by high quality staff, store design and retail plan. Happy Make Up News. Worth Celebrating. #beauty #makeup #perfume #cosmetics #retail #ukretail #wellness #exclusivebrands #retailexpansion #digitalera #zoommeetings

Fitting rooms are a retail goldmine. As consumers return to physical stores, more apparel retailers are elevating the try-on experience with smart fitting rooms.     In this post, Paula Rosenblum, Managing Partner, RSR Research (Retail Systems Research), and Matthew Cyr, CEO, Crave Retail examine how smart fitting rooms: 🛍 Personalize the customer experience 💪 Empower store associates to serve shoppers productively 📊 Yield in-store data insights that retailers have never accessed before Benefits include: ⭐ 10% increase in fitting room conversions ⭐ >25% increase in average basket size ⭐ 40% decrease in returns among fitting room shoppers Learn directly from Paula and Matthew how, by bringing the best of digital to physical stores, smart fitting rooms satisfy shoppers and drive conversions. #retail #apparel #fittingrooms #tech Daniel O'Sullivan Sarah Breneman Dan Dyer Neil Saunders Liza Amlani Jeff Sward