Bringoz Industry Monthly 4/28W
elcome to our new bi-monthly newsletter where you’ll find the latest industry news and Bringoz content. In this newsletter, learn about Ikea’s big investment in its future, how Lowe’s is expanding its B2B solutions, and New York City’s plans for sustainable delivery growth.
Ikea to Invest Over $2.2B in U.S. Expansion
Ikea will invest more than $2.2 billion over the next three years on its omnichannel growth strategy in the U.S. The retailer’s investment will be used for a variety of efforts, including expanding new store models and pickup locations, and is aimed at improving accessibility while keeping products affordable. Ikea plans to open eight new stores and 900 pick-up locations, allowing customers to retrieve ordered goods from more convenient locations. Read more here.
Lowe’s Debuts Digital Tools for Professional Customers
Lowe’s has introduced its suite of Lowe’s MVPs Business Tools. On the retailer’s website and mobile app, customers can get quotes online for their supplies, re-order frequently purchased products and track their orders. The retailer said its tools are meant to enhance its MVP Pro Rewards and Partnership Program, as the company continues to enhance its product assortment and fulfillment capabilities for professional customers. Read more here.
New York City to Test Local Delivery Hubs
New York City will begin testing local delivery hubs this summer to reduce truck traffic and emissions in favor of more sustainable transportation options. Microhubs in the city will provide designated curbside or off-street locations for trucks to unload items onto low-emissions transportation modes, like electric vehicles or cargo bikes, for last mile delivery. The city Department of Transportation will launch up to 20 sites to test both curbside and off-street delivery sites in the program’s first phase. Read more here.
Maximizing Customer Satisfaction With Retail Fulfillment
Retail fulfillment is a critical aspect of the customer experience. In today’s world, customers expect fast and reliable delivery options that fit their lifestyle. The pressure is on for warehouses, fulfillment, and distribution centers to continue to evolve in order to minimize delivery costs and increase fulfillment speed and efficiency. Here are some strategies that can help retailers improve their fulfillment offerings to meet customer expectations and increase customer satisfaction. Read more here.
What’s In Store for the Future of Retail
The retail industry is no stranger to disruption. Successful retailers have learned to pivot and adopt new strategies in order to adapt to new consumer habits. New channels and tools are creating retail opportunities everywhere. Retailers who can modernize their technology to enable capabilities like personalizing content, same-day fulfillment, and creating shopping opportunities across multiple channels will thrive in the future. Here’s a look at what’s in store for the future of retail and areas of potential growth, success, and increased customer engagement. Read more here.
Building a Loyal Customer Base: Strategies for Retention
Building a loyal customer base is crucial to the long-term success of your business. Loyal customers not only bring in repeat business but are also more likely to recommend your business to others, which can lead to new customers and continued growth. Cultivating strong customer relationships and enhancing the customer experience will help retailers attract customers and retain the customers they already have. Here’s a deeper look at key strategies to help retailers build a loyal customer base. Read more here.