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TOP 10 STORIES OF 2017: DEBUNKING THE

RETAIL APOCALYPSE MYTH

It’s been a year of ups and downs for the retail industry — bankruptcies were at an all-time high and store closings came thick and fast — but it turned out that reports of an “apocalypse” were greatly exaggerated. All hope is not lost, as retail success stories from Macy’s, Neiman Marcus and Amway and research busting the “retail apocalypse” myth reveal a thriving (if still chaotic) future for the industry.

 

Retail TouchPoints’  top stories of the year spotlight a variety of trending topics that were top-of-mind for retailers in 2017, including the power of social media engagement, off-price retail’s resilience, effective digital strategies and Gen Z’s current and potential buying power.

 

Read more about the most popular stories of 2017 below and check out our top stories at mid-year here.

JOB CUTS

Walmart To Cut 20% Of Leadership Staff: Breaking News

@Walmart’s big move to cut 20% of leadership staff above store level came as a big surprise to the industry.

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BANKRUPTCIES

Gymboree Misses $171 Million Interest Payment…Bankruptcy Next?

@Gymboree faced hardships in 2017 and joined the long list of retailers filing for #bankruptcy. Fortunately, the retailer bounced back a few months later.

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SOCIAL MEDIA MARKETING

Amway Boosts Social Engagement With Two-Pronged Marketing Approach

@Amway’s unique social media marketing strategy helped the brand launch a new line of products and train independent business owners.

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STORE OPENINGS

Apocalypse? Not Now: Retailers Will Open 1,300 Net Stores In 2017

Retailers were very concerned about a potential “retail apocalypse” in 2017, but new research revealed strong growth trends.

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GENERATION Z

Study: Gen Z Wields $44 Billion In Buying Power

The next generation of shoppers — #GenZ — are a promising bunch for retailers, with 67% still shopping in physical stores.

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OFF-PRICE RETAIL

The Off-Price Retail Boom: Lessons For All Retailers

#Offprice retailers may heavily rely on in-store foot traffic, but the savviest ones realize this is no time to avoid an #omnichannel strategy.

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TRANSFORMATION

Retail Apocalypse? More Like A Retail Transformation

Even though store traffic and sales remain in decline, the retail industry isn’t quite in the terrible position many believe it to be.

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RFID

Macy’s RFID Rollout Improves Inventory Accuracy, Display Compliance

@Macys #RFID efforts paid off in 2017: the retailer decreased inventory markdowns and increased full-price sales 2.6%.

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PERSONALIZATION

Digital Strategies Help Neiman Marcus And Home Depot Improve Omnichannel Personalization

Go digital or go home: @NeimanMarcus and @HomeDepot share their successful personalization strategies.

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STORE CLOSINGS

Say It Isn’t So: Pirch Closes Majority Of Showrooms

Joe Hasenzahl of HighStreet breaks down what went wrong at @Pirch to result in so many closed showrooms.

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Written by:

Features Editor

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