Industry

Apple and Google are in discussions to reach a partnership agreement to leverage the power of Google’s Gemini artificial intelligence tool to diversify features on the iPhone, according to a Bloomberg report. This partnership would set Gemini apart to tap into billions of potential users. Apple is currently on the…Read More

Leading retail executives reveal a consensus around several key themes shaping the future of the retail industry. They emphasize the integration of digital and physical retail experiences, the transformative potential of artificial intelligence (AI) and automation, and the enduring importance of physical stores despite the growth of online shopping. Executives…Read More

Inditex, the parent company of Zara, and Mango have achieved record sales despite the fast fashion market disruption caused by newcomers Shein and Temu, which offer extremely low-priced items. Spanish retailers have successfully differentiated themselves by focusing on higher-quality products, investing in physical retail spaces, and enhancing the consumer experience.…Read More

Leonard A. Lauder Honored With Retail Excellence Award A who’s who of luminaries from the retail, fashion and finance sectors turned out on Monday night to honor Leonard A. Lauder with the Retail Excellence Award cohosted by the Baker Retailing Center at the University of Pennsylvania’s Wharton School of Business and…Read More

US Retail Workers Are Fed Up and Quitting at Record Rates To be a US retail worker in 2023 means fielding an onslaught of growing American anxieties about everything from high prices to politics. Increasingly, some workers say the job isn’t worth the wages. Low pay, erratic schedules and monotonous…Read More

Shopify Introduces Over 100 New Features, Including AI-based Solutions Shopify has launched over 100 new features to help small business owners be more productive and innovative as part of their Summer ’23 Edition product updates. The updates leverage the power of artificial intelligence (AI), a fee-free business credit card, an…Read More

Leonard Lauder to Receive ‘Retail Excellence’ Award Leonard A. Lauder, chairman emeritus of The Estée Lauder Companies, will receive the “Retail Excellence Award” for his outstanding contributions to the retail and beauty sectors, along with his philanthropic endeavors in academia, medicine and art. The award is being given by the Jay H. Baker Retailing…Read More

McKinsey: Why Markdowns Matter More Than Ever Many US retailers are reducing prices to clear excess inventory. Smart markdown strategies will make a huge difference to their bottom lines. The US consumer, just like the US economy, has been anything but predictable over the past few years—and the rapid changes…Read More

Sourcing Journal: Gen Z Has a Taste for Activism, Thrifting, and Cultures Outside Their Own DIY fashion, activism and entrepreneurship are tracking for 2023, according to Instagram. The social media platform’s 2023 trend report serves as a “data-driven guide to the cultural and social trends” as defined by Gen Z. Instagram partnered…Read More

This year redefined fashion and beauty. For industry insiders, it was a year of contending with evolving shopping behavior, accelerated trends and new consumer expectations, spurred by technology and pandemic-overhauled priorities. And that’s not to mention ongoing economic instability and related logistical roadblocks. Companies managing to triumph through the tumult…Read More