Independence Day is just around the corner! But before you go and enjoy the extended weekend, take a look at some quick tidbits throughout the retail industry!
Etsy Enters The Cause Marketing Fold: Etsy sellers can now use the GoCause mobile app to give back to numerous causes including children’s health, animal care and disaster relief. The causes are marketed across the images and product listings in their online shops. For example, a bar of soap may say “Funds clean water for children” on top of the item’s photo. On average, an Etsy seller using the GoCause app donates 20-25% of a product’s total purchase price, according to a company statement. With the app, each Etsy seller can pick and promote their own cause and access real-time reports outlining exactly which listings have sold and which causes they supported.
Pier 1 Imports To Debut Gift Registry After Rough Q1: Pier 1 Imports had a rough Q1, posting a $6 million net loss in the quarter with revenues declining 4.2%. With the home goods retailer’s shares down 50% from this point in 2015, it will be rolling out a gift registry to complement its new rewards program. Alex Smith, President and CEO of Pier 1, indicated that customer demand for discounting throughout retail is having a massive effect on the company’s pricing strategies. With store traffic trends remaining uncertain, Pier 1 is trying to get a better grasp on which customers are responding to personalized discounts.
Birchbox To Lay Off 12% Of Staff: Birchbox has engaged in a second round of layoffs in 2016, terminating 30 employees and cancelling plans to expand to three additional physical stores. The subscription retailer first announced that it was giving 45 employees the axe in January and hasn’t raised any venture funding in two years despite reports that it had sought out a new round funding in late-2015. With more established players such as Sephora entering the subscription market, Birchbox’s position within the beauty industry doesn’t appear to be as ironclad as it was when it burst on the scene.
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Shipping Firm Ends Ties With Forever 21: EZ Worldwide Express, a shipping firm that delivers for retailers, has cancelled its exclusive contract with Forever 21. The firm filed for Chapter 11 bankruptcy protection in January 2016 after disappointing holiday results, but its business through Forever 21 “declined precipitously,” according to a company filing. The documents revealed the details of the decline: weekly sales
at Forever 21
dated April 8 to May 5 have dropped from a range of
$629,000 to $780,000 in 2015 to a range of $352,000 to $428,000 in 2016. Forever 21 transitioned to other delivery providers and accepted the termination agreement with EZ, according to a statement from the fast fashion retailer.
From the RTP team to you, enjoy the 4th!
