Wednesday, November 10, 2010

How Men's Wearhouse tailored its discount niche

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November 10, 2010News for the retail industry
 
  Industry Watch 
 
  • How Men's Wearhouse tailored its discount niche
    George Zimmer says he was a "classic traveling salesman" in the 1970s, driving to Southern department stores with a trunk full of menswear manufactured by his father's company in the Northeast. Recognizing that discount stores had not yet caught on in the region, Zimmer says, he scraped together $7,000, ordered some of his father's sports coats and opened the first Men's Wearhouse in Houston. There was a brush with bankruptcy in the early 1980s, but Zimmer took the company public in 1992, opening 50 stores a year for decade. Zimmer attributes his success to a happy workforce, great customer service -- and a memorable slogan. CNNMoney.com/Fortune (11/9) LinkedInFacebookTwitterEmail this Story
  • Best Buy finds clear communication the key to employee engagement: Transparency and clear communication of strategy are vital to getting employees on board, says Best Buy's HR chief Gil Dennis. People need to see daily examples of behaviors that demonstrate the company's mission, Dennis said, and social media tools provide a place to display those examples and allow employees to "write themselves into the story." SmartBrief/SmartBlog on Workforce (11/10) LinkedInFacebookTwitterEmail this Story
  • Department stores greet the holidays
    With Halloween in the rearview mirror, department stores are looking to prime shoppers for what they hope will be a busy holiday season. Bloomingdale's is in the midst of its holiday catalog campaign, while J.C. Penney is going local with a New York-based campaign with transit, print and taxi-top ads to boost awareness of its New York City store. NYTimes.com/Media Decoder blog (11/9) LinkedInFacebookTwitterEmail this Story
  • Disney debuts Times Square store
    The new Disney Store opened in Times Square to much fanfare Tuesday, featuring speeches from stars including Brooke Shields. The 20,000-square-foot Manhattan flagship is among the company's 360 stores worldwide, 18 of which have been remodeled with new features including "magic" mirrors. Disney plans to convert the rest of its stores to the new concept. Houston Chronicle/The Associated Press (11/9) , Reuters (11/9) LinkedInFacebookTwitterEmail this Story
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  Retail Trends 
 
  • Survey: Retailers beef up seasonal inventories
    Retailers increased their inventories an average of 2.8% in anticipation of the upcoming holiday shopping season, and one-third of retail chain marketing chiefs reported an uptick in purchases compared with last year, according to a new survey. Several forecasts call for higher holiday sales this year, including NRF's projection for a 2.3% increase. The Wall Street Journal (11/9) LinkedInFacebookTwitterEmail this Story
  • Retailers see success with smaller stores
    A growing number of retailers are discovering that packing their wares into smaller spaces can do more than cut costs -- it can actually boost sales. At New York teen-apparel chain Anchor Blue, sales are up 23% since the store cut its space in half last year, and chains including Bloomingdale's and Nike are experimenting with smaller stores. The New York Times (free registration) (11/9) LinkedInFacebookTwitterEmail this Story
  • The psychology behind effective pricing
    Two university professors say their research provides an insight into just how much merchants need to discount their wares in order to convince customers to switch brands. Researchers created a fictional movie-rental company to explore how low the chain would have to go to entice Netflix users to switch. MediaPost Communications/Marketing Daily (11/9) LinkedInFacebookTwitterEmail this Story
Adobe Mobile Experience Survey: What Users Want from Media, Finance, Travel & Shopping. With more than 4.5 billion cell phone subscribers worldwide, it's no wonder businesses are betting big on mobile. Get a first-of-its-kind, bird's eye view of what consumers are doing on their mobile devices and what most engages them across 4 key industries. Download the whitepaper.
  Retail Technology 
 
  • Supermarkets get in line for self-checkout
    Almost 86% of grocery stores surveyed have at least one self-checkout lane, but both retailers and consumers have reservations about the technology, which aims to make checkout quicker but doesn't always succeed. The checkout machines, made by such manufacturers as IBM and NCR, are getting better with each generation, and customers are getting savvier about using them. The Washington Post (11/9) LinkedInFacebookTwitterEmail this Story
Webinar: Commerce in the Age of the Connected Consumer
Join Kasey Lobaugh of Deloitte to learn the key consumer trends that retail leaders need to master, and how they are changing the way they interact with customers and manage their business. Plus, you'll see specific examples of how leading retailers serve the connected consumer. Register Now
  Featured Content 
 

  NRF News 
  • SEO, social marketing execs share tips for boosting holiday sales
    Forget the grand strategy talks and ignore the expensive, time-consuming software implementations -- Shop.org has four c-level online executives ready to share actionable tactics you can use to make money and improve your holiday sales. From SEO to conversion to social marketing, listen to this one-hour playback of Shop.org's most popular webinar for easy-to-implement tips. Open to NRF and Shop.org members only. Learn more. LinkedInFacebookTwitterEmail this Story

  • NRF SmartStat: Nov. 10, 2010
    While the majority of retailers' policies will remain unchanged this year, 5.5% of retailers say they will loosen their holiday return policies while 10.9% will tighten. Source: NRF's annual Return Fraud Survey LinkedInFacebookTwitterEmail this Story
 
  • Top 10 trends to watch this holiday season
    Americans won't return to their post-recession shopping patterns, but they are a bit more willing to consider impulse buys and purchase presents for themselves as well as others this season, writes NRF VP Ellen Davis in a blog post detailing the top 10 holiday trends for 2010. Retailers who are still on the fence about mobile, take note of Trend No. 10, which details how shoppers will be using their smartphones this season. Read more. LinkedInFacebookTwitterEmail this Story
Learn more about NRF ->Join NRF  |  Govt Relations  |  NRF Events  |  STORES  |  NRF Foundation

  Chain Restaurant News 
  • Groups fight ethanol ruling over food-price concerns
    Food industry groups including NRF's National Council of Chain Restaurants have filed a petition with the U.S. Court of Appeals in the District of Columbia, in an effort to overturn a recent ruling to allow more ethanol to be blended into gasoline. The group says the expanded use of corn as fuel will drive up global food prices. NRF Washington Retail Insight (11/9) LinkedInFacebookTwitterEmail this Story
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