Wednesday Tipsheet: Target’s India Accelerator | Costco’s B.C. Booze | 56% Skip Black Fri.
“Target Wants To Launch An Accelerator In India” by Pankaj Mishra at TechCrunch. “Target has long looked to India to fuel its software applications and back-office projects. Now, the Minneapolis-based retailer is doubling down on the country’s tech potential. Come January 2014, Target is planning to launch the Target Accelerator Program, a corporate incubator – complete with funding, and possibly equity stakes.” Read more
“H-E-B: America’s Only Cross-Border Grocery Chain” by David Merrefield at Global Retail Brands. “It operates stores in Mexico, and has done so for some 15 years, making it the lone U.S. conventional operator with stores outside the U.S. H-E-B’s Mexican venture is far from small. It has some 45 stores in the country and two distribution centers. Stores in Mexico are under the H-E-B banner plus a few under the Mi Tinda del Ahorro, a deep discounter. H-E-B’s sales volume in the country is about $1.2 billion.” Read more
“Twitter woos Target and other Retailers” by Sarah Frier at Bloomberg via Star-Tribune. “Hirschle’s mission is urgent. Twitter lags behind Facebook Inc. in dollars flowing from retailers, who are critical for the San Francisco-based company to win over following its blockbuster IPO. Retailer outlays on digital ads, which made up 22 percent of total spending in 2012, are projected to swell to $13.5 billion by 2017 from $9.4 billion this year.” Read more
“Men Outspend Women During Holiday Season: ESPN Survey” by Meredith Derby Berg at Ad Age. “A full 33% of men consider themselves the primary shopper for the household, up from 14% of men who described themselves that way in 1985, according to ESPN. That’s in part because 70% of women are now working outside the home, Ms. Singer said. “Retail has always been aimed at women and how women shop and behave, but men are the prime target if you’re looking to grow the sector.” Read more
“Costco Wants Booze in B.C. Canada” by Peter Meiszner at Global News. “The B.C. Private Liquor Store says they are not in favour of alcohol sales in grocery stores such as Costco or Superstore. They are also asking the provincial government to stop installing walk-in fridges without “chill charges” in government liquor stores, which they call an “aggressive attack” on private liquor stores.” Read more
“Sears death spiral: Canada to lay off nearly 800 employees” by Marina Strauss at Globe & Mail. “The layoffs, which were unveiled on Tuesday, affect 712 employees in Sears’ repair services and parts business and 79 in its head office. In all, the company has about 25,000 staff – roughly 1,800 at head office – down from about 31,000 two years ago when it had 122 department stores. Today it operates 118 outlets, but by early 2015 that number will drop to 111.” Read more
“Cheap Gas is the Key to Robust Holiday Sales” by Josh Boak at AP via Star-Tribune. “Many retail analysts have forecast a ho-hum sales gain of around 2 percent this year; others predict an increase of up to 3.9 percent. But steadily cheaper gas could send holiday sales shooting above 5.4 percent, analysts say.” Read more
“Consumer Reports Poll: Fifty-Six Percent of Americans Plan to Skip Black Friday Shopping This Year” “Seven in ten say ‘Too Many Crowds” is Biggest Reason They Won’t Shop.” Read more
“Why Amazon is goosing Prime memberships” by JP Mangalindan at Forbes. “Investment research firm Morningstar estimated earlier this year that Prime had 10 million members by the end of 2012 and projects that number could rise to 25 million by 2017. (For context, Prime members reportedly numbered between 3 million and 5 million in fall 2011.).” Read more
“Walmart’s Susan Chambers (EVP) is 2013 Women of Excellence Recipient” “The National Association for Female Executives (NAFE) today announced the 2013 Women of Excellence Award recipients, and Walmart’s Susan Chambers was bestowed recognition for her exceptional business achievement and acumen.” Read more
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See you again next Monday!