Weekly Headliners – Feb 20- Feb 27
So, every week, we are assigned to do an ‘issues’ report. These reports are for us to essentially read more on retail to figure out what is happening in Canada, the United States and globally. I figure that handing it into my professor every week is a bit of a waste so I thought I would post them here. Of course there are many, many more headliners but I found these to be the most interesting.
Next times Weekly Headliners will include Links…
Tim Horton’s to raise prices due to rising commodity prices. This could lead to other food retailers raising prices as the products they sell will be rising in cost as well. The implications to retailers are lost profits or having consumers paying more for staple goods.
Joe Fresh to expand into New York. Although this is not recent news, this is a significant event as Canada not had many retailers or brands expand into the United States. The need to differentiate themselves as a more stylish brand, is showing they are trying to ‘grow up’ out of their grocery store image.
The United States
Payvment announced its launch on Thursday. Payvment is a Facebook e-commerce platform which allows for ‘social shopping’.
Macy’s unveiled to have its spring lineup provided with a custom QR code. Companies have been trying to figure out how to make use of social media and new technologies such as smart phones to create a more effective shopping experience for customers. By providing a QR code, customers are able to access more information on related events and material.
Taobao has created plans of its own for ‘group buying deals’ in China as news of Groupon’s possible entry. Alibaba which is a manufacturer to retailer ecommerce site is an interesting concept. Combing it with Taobao’s online market place and now group buying deals, the next few years may see an increased use of wholesalers and retailers purchasing products in a new way. Simply buying off a website.
Possible Bigger Picture Trends
Social Shopping. With social media occurring and gaining more traction, the increased use of e-commerce and mobile commerce. It is simple to see that using social shopping could be an effective way of moving the masses towards e and mobile commerce. The ability to combine these concepts together to create an ‘easier’ shopping experience is how I see the future of retail.
Although the issue is not retail, the events will affect retail. The unrest in the middle east has created uncertainty in the supply of gas. This has led to rising prices and in turn will lead to rising costs of commodities and products. For retailers which rely on obtaining merchandise at lower prices, this rise in prices may lead to lost profits or sales. If this continues this could also mean that consumers may be paying more for products in the long run.