Retail Roundup | September 2023
As a retail technology company obsessed with data, we at Tillerman are constantly looking at the trends and forecasts shaping the retail industry broadly. The start of 2022 continued to bring challenges with supply chain issues, inflation and of course Omicron having an impact, but there were bright spots as well. Heres a roundup of some of the retail stories that caught our eye this month.

Starting off the round up this month, the sportswear giant Nike may have stumbled on its revenue target, but it came sprinting past earnings expectations, leaving investors with a sense of optimism. GIII not only met but exceeded expectations, and they've got a fresh agreement in place, set to produce Champion Outerwear. Also from the world of finance, Birkenstock, a brand that traces its origins back to 1774, is getting ready for its IPO.

Despite an increase in August sales, the future looks a bit cloudy for discretionary businesses heading into the holiday season. The return of student debt is looming large, and retailers must double down on their merchandising strategies to entice budget-conscious consumers into loosening their purse strings.

Amazon is facing a legal showdown, but they're also taking a moment to celebrate the sellers and the entrepreneurs who are thriving on its platform. The retailer is also once again leading the promotional push for Holiday. As in the past, other retailers are following suit. Amazon also announced that they have partnered with Shopify to integrate 'Buy with Prime'. 

Not to be outdone, Wal-Mart is focusing on their their 4600 stores as a competitive differentiator as they go after the Marketplace Seller business

JC Penney is investing $1B to improve the customer experience, help their team and improve efficiencies, but there's a healthy dose of skepticism in the air, particularly in light of their recent move to notify some vendors of their plan to move to 90 day terms.

On the tech scene Lily AI is making headlines with its impressive ability to translate consumer search terms into the language of retail. Retailers are now equipped to cater more effectively to customer preferences. And if you thought self-checkout was the future, think again. RFID-enabled walk-out technology is on the rise, hinting at a retail landscape poised for significant transformation.

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