Retail Industry News – Stay Up to Date with SPAR
The retail industry is constantly changing and evolving. At SPAR, we want to keep you up to date on the latest news, so you are always able to make the best possible decisions for your store. Here are some of the latest retail news stories that we’ve been following!
Kohl’s Expands Amazon Returns Program
Kohl’s and Amazon began their partnership in 2017, and as recent news suggests, their collaboration has only grown over time. Kohl’s has been selling Amazon-branded items at their stores for a couple of years, but starting in July, you will be able to return items purchased on Amazon to any of the 1,150 Kohl’s locations in the United States. Eligible items include those with no box or label- you can bring in your return at no additional cost. Kohl’s will package the items and send them back to Amazon for you. Kohl’s CEO Michelle Gass says that this new service is part of a plan to drive more traffic to Kohl’s stores, as well as provide more relevance to shoppers. More information about this customer service shift can be found here.
Bed Bath & Beyond Tweaks Coupon Program
If you shop at Bed Bath & Beyond, you probably are aware of their coupon program. Coupons can be used past their expiration date and you can use more than one coupon on each transaction. However, changes to this system may be underway – lately, the company has been mailing out fewer coupons, and it seems that the rules about when you can use them have become more strict. This change comes after reports of declining profits for the store, but their challenge now will be to get customers to come in more often while lessening the lure of coupons and discounts. We’ll see where this goes as time passes because it might be a model that other stores end up following.
Lowe’s Launches Workforce Training Network
Lowe’s has started going beyond the duty of a normal retailer – the store recently announced that they will be launching a workforce development network. Young individuals studying trades will have access to networks, tools, and appliances, which will be built to help students find apprenticeships in the field. This effort has benefits on both sides. Young people gain the skills they need for construction and manual labor jobs, and this group that largely makes up the Lowe’s customer base, grows as a result. Lowe’s also stated that the effort will give students an alternative to college and teach them more about trade jobs that pay well. More information about this new program can be found here.
The retailers that are positioning themselves for success in the future are the ones that are willing to try new things and change. The Kohl’s – Amazon partnership would never have even been considered just a couple of years ago – but it makes sense now. Kohl’s is aggressively seeking these types of partnerships in other areas as well – like lifestyle and fitness – that will continue to push the envelope.
Retail Services and Solutions from SPAR
At SPAR, we strive to help keep your retail store up to date, whether it’s through the latest industry news or the array of services we provide. Our years of experience in this industry are evident through the services we provide to retail stores, which include assembly & installation, merchandising solutions, programmatic services, store sets and remodels, and much more. Our projects are marked by hard work and transparency- you will be in the loop every step of the way. To learn more about SPAR and how we can enhance your retail business, do not hesitate to contact us today.