Retail Tech Weekly Roundup — May 18th
It’s a mixed bag this week with a few doing well, a few not so well.
Buy that suit right off Ryan Gosling
No, what you’re thinking is not what I’m saying. We’re talking about shoppable films here. Amazon is pairing with Diageo, a spirits company, to make shoppable films, while Facebook is pushing for it’s ads to work in tandem with TV. Combined with Google’s recent (unrelated) update on using machine learning to extract complex data like actors on-screen time and gender from video one wonders who long it will be before I can click ‘Pause’ and purchase a suit right off Ryan Gosling.
Some ups and some downs
They say that investing during an economic downturn can work out quite well — it seems the same is true for companies facing a retail crisis. Decisive and strategic planning propels some forward while their peers fall left, right and centre. What happened you ask? The good news is that Target beat Wall Streets expectations with a 22% sales growth in digital channels, and US ecommerce posted a growth of 14.89% in Q1. At the same time teen clothing retailer Rue21 has filed for bankruptcy and Macy’s shares have tumbled after its quarterly report showed profits down by 39%.
Other notable news
Luxury retail is stepping up its ecommerce game (finally) with LVMH announcing its first multi-brand site in eight years called 24Sevres.com. This brings it into the same arena as other sites like Yoox Net-a-Porter and Farfetch. On the non-luxury side, analysis by Citi predicts that Amazon will undercut Australian retailers by 15% once it hits the shores. Ouch.
This week on The Ecommerce Intelligencer:
Published at: May 18, 2017