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Tag: Retail

  • I Turned Down A Major Retailer Who Wanted to Carry My Product. Here’s Why Other CPG Founders Should Too | Entrepreneur

    I Turned Down A Major Retailer Who Wanted to Carry My Product. Here’s Why Other CPG Founders Should Too | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    Founders often dream of being sold in Costco — but last year, when Costco offered to carry my beverage brand, O2 Hydration, I said no.

    It was a gut-wrenching decision. I love Costco and would love to be carried in Costco, but also I knew a terrible truth: My brand just wasn’t ready yet. And if you go big before you’re ready, retail can kill you.

    If you have a product that you want to sell on shelves, here are three things you absolutely need in place before saying yes to a retailer.

    1. Understand Your Market and Prove Demand

    Before scaling as a CPG founder, you need a deep understanding of your market and must prove demand for your product.

    For my brand O2, we started our retail efforts in a single region with a single retailer, Whole Foods. We expanded to 10 Whole Foods within a year, and then we expanded to a full region. This approach allowed us to understand what worked, and then double down on that.

    For example, we found that product samples drew customers in, and they were hooked once they heard our story. That’s awesome insight, but it means we had to scale accordingly. By running a slow ground game, we built a loyal customer base and secured more shelf space — and we did it store by store, and region by region.

    2. Secure the Necessary Resources to Replicate

    O2 was flying off shelves at Whole Foods, so we thought we were ready for prime time and agreed to launch nationally with Kroger, Publix, and Sprouts the following year.

    That’s when we learned our first hard lesson about retail.

    When we expanded across the country, the lack of geographic concentration diluted our efforts. We initially had success by focusing on the Midwest, where our team could actively support and promote our products. But when we went national, we couldn’t hire and train people fast enough to replicate what we were doing on a national level, and we were promptly discontinued.

    Pro tip: Having a concentrated geographic focus allows you to manage and support your retail partners more effectively. It also helps in building brand recognition and customer loyalty in specific regions before expanding further. Without the right resources, you can’t support the increased demand and logistics that come with larger retail placements. This can lead to out-of-stocks, poor customer experience, and ultimately, being dropped by retailers.

    3. Have the Conviction to Say “Not Yet”

    When a retailer offers to carry your brand, it can feel like winning the lottery — and founders are often afraid to say no. They worry that it means closing a door.

    That’s not the case. It’s perfectly appropriate to say, “Not yet.”

    Retailers want brands that are set up for success, and they’re relying upon the brands to know if they’re ready. Brands must ensure that they have the necessary resources in place, in the right regions, before agreeing to retail expansion — and they also need to know what tools can get your product off the shelf.

    For example: How often do you promote your product, and at what price? What off-shelf merchandising do you need to be successful, and how will you obtain it?

    Retailers will not do this for you. You’re Odysseus and they’re the sirens. They see something working, and they want to push it out as fast and as wide as possible, and they’ll dangle a seductive six-to-seven figure PO in front of you to get what they want. They assume you know what’s working, have figured out how to scale it, and have secured the resources needed to do so. So if you say yes, you better know all of that!

    If you don’t, then say “not yet.” The retailer will respect you for it. You just saved everyone a lot of heartache.

    Retail expansion can be incredibly seductive, but it’s essential to ensure that you’re genuinely ready before taking the leap. By understanding your market, securing necessary resources, and building geographic concentration, you can set your brand up for sustainable success. Remember, saying no when you’re not ready can save your business and turn future opportunities into even bigger wins when you are.

    Now you understand why I turned down Costco. I know my market well; my product sells great in many regions, and in specialty retailers nationwide. I’m building toward that national, mass-market ground game — and when I finally say yes to Costco, it’ll be because I’m confident I can make it a win for us both.

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    Dave Colina

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  • Driving global supply chain innovation and resilience

    Driving global supply chain innovation and resilience

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    A fast and resilient global supply chain is vital for businesses to meet customer demands and ensure operational efficiency. However, achieving this requires more than just logistical expertise; it demands innovative solutions and digital tools to navigate today’s complex business landscape.

    To deliver a great customer experience and empower employees to work safely and efficiently, companies are looking for repeatable, agile, and reliable solutions. They are increasingly turning to AI, connected devices, and other digital tools to enhance insights from supply chain data. While each industry has its specific needs, there is so much to be gained by sharing knowledge across sectors to build the most resilient supply chain possible.

    Monitoring the global supply chain with AI

    In industries like pharmaceuticals, where timely and accurate deliveries are critical, data-driven insights are indispensable. Reacting to in-progress supply chain issues isn’t enough; a transformative improvement is avoiding them altogether. That’s where data—along with the AI tools that can analyze it—is critical.

    Better connectivity helps companies make faster decisions, monitor the entire supply chain from anywhere, and understand the global effects of an issue immediately. Allen Jacques, Industry Thought Leader at Kinaxis, remembers a time when shipping problems took an entire week to solve through meetings and phone calls with potentially dozens of people. “Today, with the digital supply chain, I could’ve gotten that answer in minutes,” says Jacques.

    With flexible tools and repeatable solutions, companies are making the pharmaceutical supply chain more resilient. Businesses are also gaining insights from AI that improve their ability to navigate the complexities of the global pharmaceutical supply chain.

    Innovation is critical in all industries, and the industrial metaverse is becoming an essential tool to accelerate development and boost resilience, training, and cost efficiency.

    Using the industrial metaverse, businesses can do repeatable experiments with lower costs and higher speeds than they can with real materials. Engineers and designers can collaborate in digital environments in real time to create prototypes of products and quickly explore many options. They can also simulate supply chain scenarios to practice responding to potential issues, such as equipment failures or transportation delays. Furthermore, digitalization gives workers the option to control machinery remotely to avoid the risk of injuries from hazardous locations. And they can train in the digital metaverse to gain more experience faster.

    Because failure is a key part of innovation, failing fast is important—it leads to faster development. “One of the biggest advantages of the metaverse is that you can make mistakes without lasting results,” says Kevin L. Jackson, Founder of the Cloud Musings blog.

    Increasing connectivity with an omnichannel mindset

    How can an organization use all its assets—from supply chain to transportation—to deliver complete customer service? Retail business leaders need to adopt an omnichannel mindset and repeatable digital solutions that improve connectivity and operational efficiency.

    Jennifer McKeehan, Senior Vice President of End-to-End Delivery at Walmart, explains how Walmart is investing billions of dollars into automation to create capacity and increase fulfillment speed and accuracy. “One of the things we’re focused on is helping customers shop when they want, where they want, and how they want,” says McKeehan. “Doing that requires mass transformation and innovation.”

    Connectivity is the key to this transformation. A connected supply chain helps get products to shelves faster and improves how associates do their jobs. “With increased connectivity, we’re making really good end-to-end decisions that then unlock cost and value for the customer,” says McKeehan.

    Avoiding supply chain disruptions on multiple fronts

    A stable supply chain must be resilient enough to withstand potential disruptions from natural disasters, geopolitical developments, economic trends, and more. For example, droughts in canals can affect both the distribution of products and energy, which has rippling effects for everything from transportation to the AI being used in the supply chain that requires energy.

    Companies can take friction out of the global supply chain by using AI to automate and optimize critical aspects of distribution and transportation. “We’ve got a lot of trucks that are half empty. The more we can concentrate on that and get better load optimization, the better,” says Greg Buzek, President and Chief AI Officer at IHL Group. AI could also be the key to protecting shipments at sea. AI-powered autonomous vehicles protecting container ships can help lower the cost of shipping and reduce the risk of lost cargo.

    Benefiting workers and customers with digital solutions

    Keeping up with supply chain trends is important for businesses looking to make order fulfillment fast and accurate. A trusted partner can help businesses adopt innovative technologies and repeatable, reliable solutions to build resiliency into every point of their supply chains. “You need folks who have been tried and true,” says McKeehan. “You need folks who are going to help you think differently about where to go tomorrow.”

    Learn more by checking out the full interviews with these industry experts, or talk to a Microsoft representative to discover more about Microsoft supply chain management solutions.

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    Microsoft in Business Team

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  • Four years after completion, a RiNo office building is still empty – The Cannabist

    Four years after completion, a RiNo office building is still empty – The Cannabist

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    The best real estate decision that Ed Haselden said he ever made didn’t bring him riches.

    He and his partners made no profit when, in late 2021, they sold the Rev360 office building they’d developed in RiNo. But it could have been worse.

    “It would have cost us all a lot of money if we hadn’t bit the bullet,” he said last week.

    Read the rest of this story on TheKnow.DenverPost.com.

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    The Cannabist Network

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  • North Denver sandwich shop changes name after legal threat

    North Denver sandwich shop changes name after legal threat

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    After two years in business, Bodega has been slapped with a cease-and-desist.

    The cult-favorite brunch spot in Denver’s neighborhood Sunnyside has changed its name to Odie B’s, after a Kansas City restaurant called La Bodega sent it a legal notice, according to a message that the restaurant, at 2651 W. 38th Ave., posted on Instagram Monday.

    “It’s already hard enough to run restaurants and it’s tragic when other independent operators are out to get ya, too,” the restaurant wrote. “While change can suck and cause heartache, we have finally leaned into it. Even though we have happily been existing in Denver with several other bodegas, we would like to set ourselves apart and end all the confusion as we grow.”

    Bodega is known for its highly craveable breakfast sandwiches, as well as its burritos and burgers (which landed on The Denver Post’s list of favorites). Owner Cliff Blauvelt grew up in Sunnyside and wanted to offer the neighborhood an easy and playful, rather than pretentious, spot for breakfast and lunch. Blauvelt plans to open a second location in RiNo this fall.

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    Lily O'Neill

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  • When Is the Right Time to Think About Your Holiday Inventory? | Entrepreneur

    When Is the Right Time to Think About Your Holiday Inventory? | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    It’s currently summer, so most people are thinking about attending barbecues and buying fireworks — not planning their holiday shopping season. However, if you run a brick-and-mortar store or ecommerce business, this is the best time to begin thinking about the holiday inventory.

    Successful planning in June and July will set you up for profitability in November, December and January. Here are six ways you can successfully plan for increased inventory demand during the holiday season.

    Related: July Is Just Early Enough to Start Planning for Holiday Selling

    1. Come up with a timeline

    The holiday season is the most profitable sales period for most retailers. According to the National Retail Federation (NRF), holiday sales exceeded $964 billion in 2023, a 3.8% increase from the previous year.

    So start by coming up with a timeline of key dates when you can anticipate increased sales and demand. These dates most likely include:

    Think about the shipping cut-off dates for each of these holidays, and add them to your calendar. That way, you can let customers know the last days to receive standard and expedited shipping on their orders.

    2. Determine what you’ll need

    Next, you’ll forecast the types and amount of inventory you’ll need for the holiday season. Having enough inventory on hand to meet customer demand will ensure you don’t lose out on business to competitors. It will also help you avoid overstocking items you don’t need.

    The best way to estimate holiday demand is by looking at previous sales data and taking note of customers’ shopping patterns. Of course, shopping habits can change slightly from year to year, so you also want to look at industry trends. For example, you can see what your competitors are doing and how they’re preparing for the holidays. And if you have an NRF membership, you’ll receive insights into consumer and retail trends.

    Once you’ve done adequate research, you can begin planning your holiday inventory. You can also start to think about when you should begin marketing and how much staff you’ll need to have on hand to manage the increased demand.

    3. Do an inventory audit

    An inventory audit involves regularly reviewing your inventory for accuracy. During an inventory audit, you’ll verify that your physical inventory matches what you’ve recorded in your financial records. An inventory audit can also help you spot inefficiencies in your supply chain.

    To perform an inventory audit, you’ll start by organizing your inventory to reduce the odds of miscounting items. From there, you’ll begin physically counting and recording each item into your inventory management software.

    Once the audit is complete, you’ll reconcile the count with your inventory records. If there are any discrepancies, you can investigate where they came from. You can also begin developing a plan to reduce discrepancies in the future.

    Related: You Should Be Planning Now for Holiday Sales — Here’s How

    4. Check in with your suppliers

    Once you know how much inventory you’ll need to meet the holiday demand, you should begin reaching out to your suppliers. Checking in early with your suppliers will ensure you’re on the same page and you’re not caught off-guard by changes to their order times or pricing.

    It’s also a good idea to ask if any of your suppliers offer pre-sale discounts or promotional pricing. It never hurts to ask, and some may be willing to give you a discount for large orders.

    5. Think about financing

    As you begin planning for your holiday inventory, one of the biggest issues is how you’re going to pay for everything. Many small businesses don’t have the cash flow to pay for a large inventory order, shipping supplies and the unexpected costs that come along with it.

    If you find yourself in this place, financing may be a good solution. Inventory financing is a one-time loan or ongoing line of credit you can use to purchase inventory for your business. The inventory purchased is used as collateral for the loan.

    Financing can help you maintain consistent cash flow during seasonal fluctuations in your business. It will also give you the flexibility to respond to increased customer demand. If you’re interested in exploring your financing options, you should begin looking into this now so you’ll be well prepared come fall.

    6. Place your orders early

    Many customers begin their holiday shopping in September and October out of concern over product shortages and slow shipping times. So you want to place your inventory orders as soon as possible so you can capture those early shoppers.

    However, it’s impossible to forecast exactly how much inventory you’ll need, and you’re bound to run out of items. So you also want to have a plan for how you can quickly replenish out-of-stock items. For example, a good inventory management system will alert you when you’re running low on certain items and need to re-order.

    Related: Keep Calm and Holiday On: How to Plan for the Holidays Year-Round

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    Joseph Camberato

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  • Kroger-Albertsons merger could lead to sale of 91 stores across Colorado – The Cannabist

    Kroger-Albertsons merger could lead to sale of 91 stores across Colorado – The Cannabist

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    Kroger and Albertsons would unload 91 grocery stores in Colorado if the companies prevail over lawsuits and regulators’ opposition to a merger of the two large supermarket chains.

    The stores on the list of ones that would be sold to C&S Wholesale Grocers are spread across the state, ranging from Alamosa and Cortez to Fraser and Frisco with several in metro Denver. Two Albertsons stores are on the list of those to be sold. The rest are Safeways. That’s the bulk of the 105 Albertsons and Safeways in the state.

    A dairy plant, an entire distribution center and part of another one in Denver would also be part of the deal with C&S Wholesale grocers.

    Read the rest of this story on TheKnow.DenverPost.com.

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    The Cannabist Network

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  • The Cannabis Market: Not a ‘Get Rich Quick’ Scheme, But a Serious Business Industry Requiring Expertise – Cannabis Business Executive – Cannabis and Marijuana industry news

    The Cannabis Market: Not a ‘Get Rich Quick’ Scheme, But a Serious Business Industry Requiring Expertise – Cannabis Business Executive – Cannabis and Marijuana industry news

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    The Cannabis Market: Not a ‘Get Rich Quick’ Scheme, But a Serious Business Industry Requiring Expertise – Cannabis Business Executive – Cannabis and Marijuana industry news




























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    Derek Ross

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  • Harnessing the power of data and AI in retail

    Harnessing the power of data and AI in retail

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    AI-powered solutions are helping retailers worldwide transform the shopping experience for customers and frontline workers alike. Embracing a unified, secure digital architecture can uncover new, valuable customer information and drive personalization for a unique customer experience. 

    The Retail Cloud Alliance (RCA) offers resources to navigate today’s evolving retail environment. Created by Microsoft and industry media partner RETHINK Retail in collaboration with Microsoft Cloud AI Partners, RCA supports retailers in seamlessly adopting cloud technology and maximizing its capabilities across business operations. RCA provides educational content, resources, engaging discussions, and consultations to guide retailers on using new technology.

    To dig deeper into this retail transformation, RETHINK Retail recently held in-depth discussions with its Top Retail Experts Community and Microsoft subject matter experts for a podcast series, which explores the four pillars of successful retail in the era of AI: unlocking data value, unifying personalization, connecting supply chains, and empowering store associates. 

    Moving beyond data to actionable insights

    Data has long been a driver in retail decision-making, but the synergy between AI and a solid data foundation can uncover new insights about customers. Transitioning from storing data in disparate locations to a unified, cloud-based architecture helps organizations to fully harness the unique capabilities of AI. New, AI-powered analytics about shopping patterns, marketing messaging, or inventory status are changing how retailers relate to customers. 

    “With the launch of generative AI, a lot of retailers are learning things about their organizations they didn’t understand before,” says Shelley Bransten, Corporate Vice President, Global Industry Solutions, at Microsoft. “Once you start to open that up, you’re going to know more about what your customer is doing today and what recommendations you can offer to them in the future.” 

    Retailers that embrace a cloud-first approach to data collection and storage can also boost security and privacy within the Microsoft ecosystem. Embracing a powerful data solution like Microsoft Power BI helps retailers process and store reliable data that AI technologies can build on.

    To understand how a secure data foundation is the beginning of any AI journey, check out this podcast. Furthermore, discover how RCA partner Icertis is helping retailers use the wide organizational footprint of AI across data sources to uncover new insights.  

    Thriving through personalized customer experiences

    Building upon the insights provided by AI-powered tools in unified data sets is helping retailers thrive in an environment where personalization is not only desired but also anticipated. Bransten notes that over 70% of customers now expect a personalized shopping experience. 

    More customers now begin their shopping experiences online, and AI is helping retailers merge information on customers’ in-person and online shopping patterns. Whether in a physical store or in the digital realm, every touchpoint between retailer and customer should be a personalized experience that stands out in the customer’s mind.  

    “The next stage of retail development is about seamlessness across technology, and retailers need to invest in the right technology that will encourage a single source of truth for who your customer is,” says Liza Amlani, Principal and Founder of Retail Strategy Group.  

    Explore the world of unified personalization and how it’s providing retailers with a competitive advantage in this podcast, and discover how RCA partner Cognizant empowers the use of personalization through new technologies by helping customers organize their data. Learn more here

    Retailers have increasingly focused on the need for a nimble supply chain over the past four years. AI-powered tools and technology, such as radio-frequency identification tracking and Internet of Things, help retailers track inventory across sites in near real time. With this increased visibility into the flow of goods, retailers can also improve the accuracy of their forecasting for future needs, which impacts sales revenue. 

    “For every 1% accuracy that retailers can improve in their inventory, that shows itself 10 times as much in their bottom line,” says Ricardo Belmar, Director Partner Marketing Advisor for Retail and Consumer Packaged Goods at Microsoft. “Having that accurate inventory count has become absolutely critical to ensure customers get what they want, when they want it.”  

    Discover how advances in technology are giving retailers end-to-end transparency on their supply chains and inventory in this podcast. Supply chains and inventory technology are also frequent topics of RCA, where Microsoft partners such as Blue Yonder highlight how the cloud and AI come together to power modern retail supply chains. 

    Facilitating meaningful customer engagement

    A sales associate equipped with AI-powered insights about products and consumers at their fingertips can make all the difference in closing a sale while building customer trust and loyalty. Frontline workers are not looking for just another tool but for a comprehensive system that supports how they work. 

    Offering frontline workers detailed, real-time data on products, customer shopping patterns, and inventory can boost employee satisfaction and productivity. Making such information quickly available, whether in a handheld device or on a screen, facilitates meaningful engagement between associates and customers. 

    “The right tools empower associates to ask the right questions while they’re selling and while they’re building a relationship with a customer,” says Amlani. “That’s key to increasing footfall and driving more loyalty.” Learn how retailers are empowering store associates in this podcast

    Embracing the future of retail 

    From inventory to supply chain to the frontline sales associate, retail is benefitting from the customer insights provided by a secure, unified data foundation. Harnessing AI-powered analytics offers retailers exciting opportunities to stand out among the crowd with personalized service, an agile supply chain, and empowered employees. 

    To learn more about how Microsoft is helping retailers embrace AI solutions, explore RETHINK Retail’s podcasts and the following resources: 

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    Carlton Dossman

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  • Empowering frontline retail workers with AI tools

    Empowering frontline retail workers with AI tools

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    Frontline workers are the heart and the face of retail businesses, interacting with customers, seeing products in action, and embodying their brand daily. With new technologies, these workers now have access to the same data used by company decision-makers and marketers. This empowers them to engage customers more effectively, prioritize tasks during shifts, and implement organizational strategies.  

    Investing in frontline workers is one of the most impactful decisions a retailer can make. Innovative solutions connect workers to company data and insights, which helps them work smarter and represent their brands more effectively. With an empowered workforce, retail businesses can increase employee and customer satisfaction in exciting new ways.  

    Modernizing the frontline worker experience with AI technology 

    Today, 41% of frontline workers in nonmanagement positions report that they don’t have the technology they need to perform their jobs effectively. AI-powered technology can help retail staff—from the most senior manager to the newest employee on the floor—work faster and meet customer expectations better. The AI capabilities of tools and apps, like Store Operations Assist from Microsoft, help workers find instant answers to questions from conversational chatbots and capture critical insights from retail data.  

    Imagine the ability to turn every instance of customer engagement into an opportunity for next-level service. A simple request regarding product availability can be answered on the shop floor from a device that can also show the employee customer data. This data can help the staff member offer the customer additional services, such as connecting the customer with products they have previously shopped for online. In minutes, AI can answer employee questions and assist in providing customers with swift, personalized service.  

    “A team that is fully engaged and really proud of what they do is likely to engage with customers at a very high level, and the customer feels it,” says Ron Thurston, co-founder of OSSY and Host of the Retail in America podcast. 

    Boosting retail processes with improved communication and task automation 

    In a recent study, 61% of retail workers report that messages from leadership don’t reach them, while 31% believe that their voices aren’t being heard when dealing with workplace issues. Retail companies that provide employees with a secure space to engage with leaders while ensuring their input is received are seeing reduced turnover rates and increased employee satisfaction.  

    Retailer Marks and Spencer uses Microsoft Teams to seamlessly manage schedules and automate task assignments to specific stores, managers, or employees. This has improved its employee engagement and, in turn, customer satisfaction. It’s easy for the recipient of an assigned task to update their status within the app, while managing schedules and swapping shifts becomes a smoother process within the cloud.  

    Knowing when they’re working, what tasks they need to accomplish, and how soon those tasks must be completed can help employees elevate efficiency and maintain a sense of purpose throughout the workday. This transparency also improves communications between shift workers and their managers or corporate leaders.  

    Creating a smart workplace for retail teams

    Connecting employees across a store through solutions like Microsoft Teams helps retail teams work smarter together. Retailers can streamline regional communications to help frontline workers focus on what’s most important while also distributing corporate communications to engage employees with strategic priorities. Microsoft Teams can even transform a smartphone into a walkie-talkie system, facilitating granular communication within each store and department.  

    A cloud-based solution makes it easy to provide employees with clean, relevant data while supporting appropriate security protocols. With such a solution, retail teams will have the correct foundation to help them maintain compliance, keep up with corporate communications, and meet customer expectations.  

    Frontline workers represent their brands to every customer, and they can do this more effectively when they are proud of that brand and the work they get to do each day. Giving frontline workers secure access to customer data, AI assistance, and instant internal communication can empower them to enjoy work more and serve customers better, improving the retail experience for everyone involved.  

    To learn more about how AI can transform the frontline worker experience, check out Microsoft Copilot. For more information on how Microsoft is empowering retail teams, explore Microsoft Cloud for Retail

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    Anya Minbiole

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  • As Shein’s IPO approaches, what will it mean for the ultra-cheap online retailer and for London?

    As Shein’s IPO approaches, what will it mean for the ultra-cheap online retailer and for London?

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    Shein is kind of a big deal.

    In 12 years, the Chinese fast-fashion behemoth has exploded in size and now reaches over 150 countries. Its $5 dresses and accessories have caught the attention of younger shoppers looking to get more for less. 

    As it has grown, Shein has been in the crosshairs of American lawmakers. It initially planned to list its shares in the U.S., but it has since shifted its gaze to London, where it reportedly plans to float in the coming weeks. 

    Although Shein has not officially announced a date, its eventual IPO would be London’s most high-profile in years.

    What do we know about the IPO?

    It is coming very soon and it’s probably going to happen in London.

    Singapore-headquartered Shein is preparing to file a prospectus for its IPO that could value it at around £50 billion ($63.7 billion), Sky News reported Sunday. It could go public as early as this week. 

    Shein was preparing to list in the U.S., but ran into problems over the company’s alleged use of cotton from China’s Xinjiang region, where ethnic minorities, including the Uyghurs, live. The company has argued that it has a zero-tolerance policy for forced labor.    

    Its environmental practices have also been a cause for concern for countries that see them as unsustainable. 

    The online retailer tried to swiftly move on by courting a London listing, but may find these issues continue to make life awkward, AJ Bell’s Russ Mould suggests. 

    “Shein may find the glare of a public market listing uncomfortable given concerns about its governance, supply chain and business practices,” he said in a note Monday. 

    Shoppers queuing up at a Shein pop-up inside Forever 21 in Ontario, California.

    Allen J. Schaben—Los Angeles Times/Getty Images

    Why does it matter?

    Shein’s float has been long coming, and could be one of the most significant ever in the retail sector. It would certainly be among London’s biggest IPOs in recent memory, following commodities company Glencore’s in 2011. 

    In 2022, the company was valued at $100 billion, overtaking the combined size of H&M and Zara parent Inditex. 

    That’s been driven by Gen Z’s strong appetite for low-cost clothing and Shein’s savvy use of social media to appeal to users—whether in the U.S., U.K., or elsewhere.

    “Shein has succeeded in tapping into the rising popularity of online-only fashion retailers among young British women and it is now a key competitor in the world of young fast fashion in the U.K.,” Tamara Sender Ceron, the associate director of fashion and retail at market intelligence firm Mintel said in a 2022 report

    What would Shein’s IPO mean for London?

    If Shein lists in London, it could not come at a better time for the U.K. markets. Over recent years, a number of companies have either delisted from the London Stock Exchange or chosen to list elsewhere, in large part over concerns about being undervalued. Arm, the British chip company, is a particularly striking example of a major IPO that could have ideally been London’s, but wasn’t. 

    Keen to avoid this happening again, officials from the U.K.’s opposition Labour Party—widely expected to win the country’s general election next month—recently held talks with Shein’s executive chairman Donald Tang in the hopes of nudging the company to list there, The Times of London reported. 

    Given its size, the company’s IPO would bring London a much-needed vote of confidence, but that doesn’t mean Shein would no longer be scrutinized, with Britain’s lawmakers recently also calling for the company to be probed. 

    Of course, London is calling but Shein isn’t guaranteed to answer. “The question for U.K. traders is will this [Shein filing its prospectus] lift the spirits of the FTSE 100, after the index fell 0.77% last week. If this does happen this week, then it would take London a step closer to being Shein’s IPO destination,” Kathleen Brooks, research director at XTB, said in a note. 

    As for Shein itself, whether you’re a fan of the fast fashion firm or not, there’s no disputing that its listing will be a major event in retail. If its IPO goes smoothly, it could help the company gain more credibility among investors, regulators and buyers, not to mention further growth capital. 

    Whether that will be enough to fend off the bad press and let its low-cost fashion do the talking remains to be seen. 

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    Prarthana Prakash

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  • Museum of Illusions, Instagrammable Edutainment, Opens Friday in Downtown Cleveland

    Museum of Illusions, Instagrammable Edutainment, Opens Friday in Downtown Cleveland

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    click to enlarge

    Mark Oprea

    The Museum of Illusions opens Friday in the May Building downtown. It could be a boon to Public Square’s foot traffic.

    In the realm of good downtown retail news, the stories are typically predictable. A flashy bar concept opens up on Euclid. A restaurant with a fire-pitted rooftop on Public Square. A casino extension for chainsmokers.

    But things to do for families downtown? A little harder to come by.

    It’s possible that the Museum of Illusions, the “edutainment” collection of brain teaser exhibits opening around the country, could help fill a downtown gap of attractions for more than just barhopping adults and event-goers. The museum, situated at 184 Euclid Avenue in the May Building on Public Square, will open to the public on Friday, May 31.

    The museum’s debut comes nearly a decade after the space’s last tenant, the Cadillac Ranch restaurant, shut its doors in 2014, after six years in business. Most of the ground floor retail space facing Public Square have remained vacant, despite its massive $50 million makeover preceding the Republican National Convention eight years ago.

    “The addition of the Museum of Illusions to Downtown will be fantastic,” Audrey Gerlach, vice president of economic development at Downtown Cleveland, Inc., told Scene in December. “It will create a nice connection between Euclid Avenue and Public Square, and offer a unique, year-round experience for people of all ages.

    “This is exactly the type of experiential retail that brings people downtown,” she added, “and invites them to linger: I think it will thrive.”

    click to enlarge Krystal Casteneda, the museum's general manager, sitting on Beuchet's Chair, which can only be viewed as one from a specific perspective. - Mark Oprea

    Mark Oprea

    Krystal Casteneda, the museum’s general manager, sitting on Beuchet’s Chair, which can only be viewed as one from a specific perspective.

    click to enlarge Both museum staff and downtown boosters hope the spot can help respond to the growing need for all-ages attractions in Cleveland's city center. - Mark Oprea

    Mark Oprea

    Both museum staff and downtown boosters hope the spot can help respond to the growing need for all-ages attractions in Cleveland’s city center.

     Claiming to be the “largest and fastest-growing chain of privately-held museums in the world,” according to its website, the Museum of Illusions first opened in 2015 in Zagreb, Croatia, which sees, the company says, more than 300,000 visits per year.

    Since then, the museum’s “edutainment” brand has sprouted to over 40 locations worldwide, with 15 currently in the U.S., including Las Vegas, Kansas City and Scottsdale. New locations, including Cleveland’s, will be opening in Seattle and San Diego later this year.

    Filling about 9,000 square feet with a wraparound series of low-lit hallways and breakout rooms, the actual experience itself conjures both a kind of hilarity with eye trickery and, to the adult crowd, a sense of nostalgia. (Remember the “magic box” with the “floating” object? The 3D green laser etchings?)

    In one mural, Nikola Tesla’s eyes follow viewers as they walk by. In another, museum goers can “sit” on Beuchet’s Chair, albeit from the right viewing angle. And in the Infinity Room, or the Kaleidoscope, viewers can see themselves in an endless series of mirrored triangles.

    And for those that need to know who the scientist behind the Ames Room (a shifty sense of perspective) is, or who could easily (like this writer) develop nausea at mere sight of the revolving Vortex Tunnel, which is no joke, the museum has a staff of Illusion Experts wandering around to help.

    The whole trip, as suggested by camera icons that dot the floor, is undeniably—and maybe a tad bit too suggested at times—ripe for social media.

    “Sure, it’s very photo-friendly, and intentionally interactive,” Krystal Casteneda, the interim general manager of Cleveland’s museum, told Scene on a tour Thursday. She had just demonstrated the Swiping Bodies half-mirror exhibit. “But at the same time it’s also a place to learn, why we call it ‘edutainment.’”

    click to enlarge Daria Jelavić, a marketing manager for the Museum of Illusions, "sitting on" a mirrored reflection of the building's facade. - Mark Oprea

    Mark Oprea

    Daria Jelavić, a marketing manager for the Museum of Illusions, “sitting on” a mirrored reflection of the building’s facade.

    But will families show up as predicted? Bespoke, niche concept museums not affiliated with any Cleveland institution are rare in the city center, which means the whole draw could ride nicely for a while on novelty. Moreover, the museum’s admission prices—$24 for adults, and $22 for kids—could be a little high for some.

    It’s why, again, the museum’s draw rests, its employees say, in a fun-for-all vibe. (Think and Drink and yo-pro happy hour events are on the agenda.) Wonderment, the trickery of mirrors or upside-down basketball hoops or concaved masks, are definitely, staff believe, worth a stop.

    “There’s a lasting value because kids love this,” Daria Jelavić, the museum’s head of marketing in Croatia, told Scene after “sitting on” a mirrored reflection of the museum’s facade. “I mean, they want to stay for five, six hours. I’ve seen some in Copenhagen scream when they have to leave: ‘I don’t want to go home!’”

    Jelavić walked over to the inverted basketball hoop, in a small room dressed up lightly for, it seems, Cleveland sports fans. A photographer took the shot.

    “Did you get a good one?” Casteneda said. She looked at the photo, at Jelavić underneath the backboard. “See? She’s upside down, right?”

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    Mark Oprea

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  • The Champs-Elysées hosted Paris’s largest picnic: A photo feature

    The Champs-Elysées hosted Paris’s largest picnic: A photo feature

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    Around 4,400 Parisians descended on the French capital’s Champs-Élysées on Sunday for a giant picnic on a 216 meter red-and-white checkered blanket, in the shadow of the Arc de Triomphe.

    Needless to say, it wasn’t spontaneous. Le Grand Pique-Nique de Champs was organized by a committee of businesses aiming to get locals back to the area, which has become primarily a destination for tourists over the past few decades.

    Over 240,000 people applied for the tickets, which were free.

    Firas Abdullah/Anadolu via Getty Images

    Guests, drawn at random from over 240,000 applicants, were treated to free culinary delights—both on the picnic blanket and on long benches that were especially set up—that were provided by nearby restaurants, including the renowned Fouquet’s.

    Four picnicers pose for a photograph with baskets of bread.
    Food was provided by ‘ephemeral’ restaurants set up by local companies.

    Firas Abdullah/Anadolu via Getty Images

    While Champs-Élysées gets no shortage of visitors, its composition has changed significantly as real estate values have increased, pricing out shops and cinemas that catered to locals. LVMH for example reportedly paid over €1 billion ($1.08 billion) for the Louis Vuitton flagship store, on the corner of Champs-Élysées and the prestigious Avenue George V.

    The front entrance of a Louis Vuitton store, illuminated at night.
    Louis Vuitton reportedly spent over $1.1 billion on its flagship store, at a premier location on the avenue.

    JULIEN DE ROSA/AFP via Getty Images

    Alongside luxury boutiques, lower-price but still tourist-friendly chains like McDonald’s and Disney store have also set up shop.

    A model in long white veil exits a McDonald's.
    The McDonald’s on Champs-Élysées, which has previously hosted catwalks for Paris Fashion Week

    Victor Boyko/Getty Images

    Locals have additionally complained about rising crime and antisocial behavior on the avenue, which is on the intersection of several Paris Metro lines. As an iconic, central location, Champs-Élysées was also the site of large scale gilets jaunes protests, which began in 2018.

    Smoke fills a street with riot police and police vans in foreground
    Champs-Élysées was the site of Gilets-Jaunes protests in 2018.

    Pierre Suu/Getty Images

    The Grand Pique-Nique was not the first attempt by the organizing committee, Comité Champs-Élysées, to get locals back to the area: in previous years, it has hosted a giant spelling contest and open-air cinema. It also comes as rival European capital London has been trying to expunge its famous Oxford Street of its seemingly ubiquitous American candy and Harry Potter merchandise stores.

    The challenge is that there’s only so much that can be done in the face of high property costs, which are squeezing out retailers and food and drink businesses that aren’t highly profitable, or at least large enough to justify a location like Champs Élysées as a loss-leading shop window for their online offering.

    Revelers enjoy the picnic under an umbrella.
    The weather in Paris held up for the event.

    Firas Abdullah/Anadolu via Getty Images

    Tourists have money, so it shouldn’t be surprising that the most expensive areas adapt to cater to them. Indeed, the only way authorities and businesses may be able to get local customers back is by hosting more picnics. It’s unlikely Parisians would complain.

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    Adam Gale

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  • Major retailers are offering summer deals to entice inflation-weary shoppers

    Major retailers are offering summer deals to entice inflation-weary shoppers

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    NEW YORK — Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather. Major retailers are stepping up discounts heading into the summer months, hoping to entice inflation-weary shoppers into opening their wallets.

    Target, Walmart and other chains have rolled out price cuts — some permanent, others temporary — with the stated aim of giving their customers some relief. The reductions, which mostly involve groceries, are getting introduced as inflation showed its first sign of easing this year but not enough for consumers who are struggling to pay for basic necessities as well as rent and car insurance.

    The latest quarterly earnings reported by Walmart, Macy’s and Ralph Lauren underscored that consumers have not stopped spending. But multiple CE0s, including the heads of McDonald’s, Starbucks and home improvement retailer Home Depot, have observed that people are becoming more price-conscious and choosy. They’re delaying purchases, focusing on store brands compared to typically more expensive national brands, and looking for deals.

    “Retailers recognize that unless they pull out some stops on pricing, they are going to have difficulty holding on to the customers they got,” Neil Saunders, managing director of consulting and data analysis firm GlobalData, said. “The consumer really has had enough of inflation, and they’re starting to take action in terms of where they shop, how they shop, the amount they buy.”

    While discounts are an everyday tool in retail, Saunders said these aggressive price cuts that cover thousands of items announced by a number of retailers represent a “major shift” in recent strategy. He noted most companies talked about price increases in the past two or three years, and the cut mark the first big “price war” since before inflation started taking hold.

    Where can shoppers find lower prices?

    Higher-income shoppers looking to save money have helped Walmart maintain strong sales in recent quarters. But earlier this month, the nation’s largest retailer expanded its price rollbacks — temporary discounts that can last a few months — to nearly 7,000 grocery items, a 45% increase. Items include a 28-ounce can of Bush’s baked beans marked down to $2.22, from $2.48, and a 24-pack of 12-ounce Diet Coke priced at $12.78 from $14.28.

    Company executives said the Bentonville, Arkansas-based retailer is seeing more people eating at home versus eating out. Walmart believes its discounts will help the business over the remainder of the year.

    “We’re going to lead on price, and we’re going to manage our (profit) margins, and we’re going to be the Walmart that we’ve always been,” CEO Doug McMillon told analysts earlier this month.

    Not to be outdone by its closest competitor, Target last week cut prices on 1,500 items and said it planned to make price cuts on another 3,500 this summer. The initiative primarily applies to food, beverage and essential household items. For example, Clorox scented wipes that previously cost $5.79 are on shelves for $4.99. Huggies Baby Wipes, which were priced at $1.19, now cost 99 cents.

    Low-cost supermarket chain Aldi said earlier this month that it was cutting prices on 250 products, including favorites for barbecues and picnics, as part of a promotion set to last through Labor Day.

    McDonald’s plans to introduce a limited-time $5 meal deal in the U.S. next month to counter slowing sales and customers’ frustration with high prices.

    Arko Corp., a large operator of convenience stores in rural areas and small towns, is launching its most aggressive deals in terms of their depth in roughly 20 years for both members of its free loyalty program and other customers, according to Arie Kotler, the company’s chairman, president and CEO. For example, members of Arko’s free loyalty program who buy two 12-packs of Pepsi beverages get a free pizza. The promotions kicked off May 15 and are due to end Sept. 3.

    Kotler said he focused on essential items that people use to feed their families after observing that the cumulative effects of higher gas prices and inflation in other areas had customers hold back compared to a year ago.

    “Over the past two quarters, we have seen the trend of consumers cutting back, consumers coming less often, and consumers reducing their purchases,” he said.

    In the non-food category, crafts chain Michaels last month reduced prices of frequently purchased items like paint, markers and artist canvases. The price reductions ranged from 15% to up to 40%. Michaels said the cuts are intended to be permanent

    Do these cuts bring prices back to pre-pandemic levels?

    Many retailers said their goal was to offer some relief for shoppers. But Michaels said its new discounts brought prices for some things down to where they were in 2019.

    “Our intention with these cuts is to ensure we’re delivering value to the customer,” The Michaels Companies said. ”We see it as an investment in customer loyalty more than anything else.”

    Target said it was difficult to compare what its price-reduced products cost now to a specific time frame since inflation levels are different for each item and the reductions varied by item.

    The Bureau of Labor Statistics, which tracks consumer prices, said the average price of a two-liter bottle of soda in April was $2.27. That compares with $1.53 in the same month five years ago. A pound of white bread cost an average of $2 last month but $1.29 in April 2019. One pound of ground chuck that averaged $5.28 in April cost $3.91 five years ago.

    Why are companies cutting prices on some items

    U.S. consumer confidence deteriorated for the third straight month in April as Americans continued to fret about their short-term financial futures, according to the latest report released late last month from the Conference Board, a business research group.

    With shoppers focusing more on bargains, particularly online, retailers are trying to get customers back to their stores. Target this month posted its fourth consecutive quarterly decline in comparable sales — those from stores or digital channels operating at least 12 months.

    In fact, the share of online sales for the cheapest items across many categories, including clothing, groceries, personal care and appliances, increased from April 2019 to the same month this year, according to Adobe Analytics, which covers more than 1 trillion visits to U.S. retail sites.

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    Anne D'Innocenzio

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  • Where are Denver’s worst parking lots? Here are the city’s biggest offenders — and a few in the suburbs, too.

    Where are Denver’s worst parking lots? Here are the city’s biggest offenders — and a few in the suburbs, too.

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    Too few parking spaces, lengthy queues for open spots, cramped designs that can’t handle crowds — Denver-area drivers brace themselves for headaches when they try to navigate the most stress-inducing parking lots in the city and beyond.

    The Denver Post went searching for the worst parking lots in metro Denver, with help from more than 100 people who weighed in with their opinions in an informal survey on social media platforms X and Facebook. Within Denver’s city limits, older central neighborhoods like Capitol Hill — where space is at a premium — host parking lots that received an onslaught of criticism.

    But that doesn’t mean suburban communities are immune to precarious parking set-ups.

    Poor parking lot experiences can affect drivers’ loyalty to a business, one expert says. Consumers are constantly forming judgments about brands, so “parking is one of the critical elements for brands to get right,” said Brent Coker, a marketing lecturer at the University of Melbourne.

    “Everything that happens to a consumer informs their attitude, which defines their future behavior,” including purchase decisions made minutes later, the Australian said. “If the carpark sucks, then yeah — that’s gonna give someone a negative attitude.”

    Here are the parking lots that stand out the most in Denver:

    1. Trader Joe’s urban locations

    Grocery store chain Trader Joe’s has two Denver locations in older neighborhoods, with small lots that challenge drivers in Capitol Hill on Logan Street and in Hale on Colorado Boulevard.

    “It’s no secret that Trader Joe’s parking lots are a nightmare,” said customer Rob Toftness, 42. “You add in their tight quarters with drivers’ inability to behave like adults, and you have a difficult recipe.”

    On a rainy Monday afternoon, shoppers weren’t deterred from completing their errands at the Capitol Hill store. They stepped in front of cars waiting for openings in the lot. Drivers tried to squeeze into narrow spots, parking haphazardly before darting into the store themselves.

    Four cars were queued in the left lane on Logan Street, turn signals blinking as they waited to enter.

    However, for cyclists and pedestrians, the store is a breeze to navigate. Toftness, a Five Points resident, opts to ride his bike along the 7th Avenue bikeway, then locks it at the bike rack while he shops.

    In an episode of the company’s podcast, Inside Trader Joe’s, co-host Matt Sloan said, “We don’t open stores with the world’s most ridiculous parking lot on purpose.” The size of a Trader Joe’s lot is based on the store’s square footage, with the chain’s locations often smaller than the average grocery store, especially when they’re squeezed into older neighborhoods.

    “Stores of a more recent vintage — more recently open stores — have larger parking lots when we can get them,” Sloan added.

    Trader Joe’s spokesperson Nakia Rohde declined to respond further.

    A shopper exits a King Soopers grocery store on Wednesday, Feb. 14, 2024, in Capitol Hill in Denver. (AP Photo/David Zalubowski)

    2. King Soopers in Capitol Hill

    The King Soopers grocery store on East Ninth Avenue leaves local customers lamenting the amount of time it can take to secure a parking spot in the main lot.

    Those who choose to park in the overflow lot are also inconvenienced, as the anti-theft wheel locks on shopping carts engage at the edges of the main lot, forcing patrons to carry their groceries across a busy street. Nine cars idled in the parking lot on a Monday afternoon, as drivers tried to park or back out of spots.

    Kara King, 33, said she’s never secured a parking spot on her first go-round.

    “You constantly have to circle the lot, waiting for one to open up,” the Speer neighborhood resident said. “Otherwise, your option is to park on the street and haul your groceries to your car.”

    King Soopers spokesperson Jessica Trowbridge didn’t respond to requests for comment.

    3. Whole Foods Market in Cherry Creek

    At the Whole Foods Market on East First Avenue in Cherry Creek, customers’ criticisms are largely directed at its lot design.

    “Whole Foods in Cherry Creek is awful,” said customer Krista Chism, 48. “All the spaces are designed for compact cars.”

    She called the lanes “too narrow,” which heightens the risk of hitting another vehicle parked behind her car while reversing. When she visits, “I seriously weigh the cost of paying to park against the possible cost of someone hitting my car,” the Park Hill resident said.

    This Whole Foods location has long been notorious, with Westword referring to it in 2011 as “singularly the worst parking lot in the city.”

    The Whole Foods media team didn’t respond to a request for comment.

    4. Denver Botanic Gardens

    Visiting the Denver Botanic Gardens often comes with parking difficulties on busy weekends, despite a dedicated parking garage. The gardens are most heavily trafficked by guests during events, including Blossoms of Light, Glow at the Gardens, the Spring Plant Sale and the Summer Concert Series, said Erin Bird, associate director of communications. Popular times for visitors also include warm, sunny weekends and Scientific and Cultural Facilities District free days.

    Bird said representatives understood visitors’ parking frustrations and urged guests to take extra time to secure parking in either the garage or the surrounding neighborhood.

    “The Gardens’ multi-level parking structure was designed to maximize the limited space we have due to our location that borders city parks in an established residential neighborhood,” she said. “Timed entry has eased some of the parking strain.”

    Denver's flagship REI store on the ...
    Denver’s flagship REI store on the South Platte River, pictured on Sept. 11, 2012, has a front surface lot (shown), an underground garage and auxiliary lots. (Photo by John Leyba/The Denver Post)

    5. REI Co-op’s flagship store

    The REI Co-Op Denver flagship store on Platte Street near downtown is the source of consistent parking gripes, including tight spaces, incidents of bike theft and the price to pay to park for lengthy shopping trips (after a 90-minute grace period).

    Patrons say the outdoor co-op attracts the most crowds during the weekend, but that doesn’t mean its ground-level parking areas don’t fill up at times during the week, too. On a recent Wednesday evening, the metered street parking was also mostly occupied as a few customers dashed across the busy street to the former Denver Tramway Powerhouse building that now houses the retail chain.

    The REI store earns 4.5 out of 5 stars on Google reviews, but at least 20 one-star reviews mention parking troubles. The designs of one surface parking lot and the underground garage are noted as cramped. One reviewer wrote: “The store itself really is great. But PLEASE fix the parking.”

    The REI media team didn’t respond to a request for comment.

    What about the suburbs?

    Outside of Denver, plenty of parking lots throughout the metro area give shoppers and visitors grief, too. Here are some notable ones:

    Costco: The warehouse club chain’s locations in Lone Tree, on Park Meadows Center Drive, and in Arvada, on Wadsworth Boulevard, draw particular complaints about parking lots that rattle the nerves. Costco stores face guff elsewhere, too: On Reddit, a thread asking the question “What’s your Costco’s parking lot situation?” has garnered hundreds of responses. Objections include waiting for spots during busy shopping hours and aggression in parking lots, such as honking, cursing and even car accidents. The Costco media team didn’t respond to a request for comment.

    Construction workers pour concrete in the upper parking lot at Red Rocks Park and Amphitheatre on Feb. 6, 2024, in Morrison. (Photo by Helen H. Richardson/The Denver Post)
    Construction workers pour concrete in the upper parking lot at Red Rocks Park and Amphitheatre on Feb. 6, 2024, in Morrison. (Photo by Helen H. Richardson/The Denver Post)

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    Megan Ulu-Lani Boyanton

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  • Shopify shares sink as company posts Q1 loss – MoneySense

    Shopify shares sink as company posts Q1 loss – MoneySense

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    Merchants solutions leading growth segment

    Hoffmeister also highlighted the anticipated smaller benefit from pricing changes in the second quarter compared with the first three months of the year.

    “We remain resolutely confident in the great products and go-to-market initiatives fuelling our continuous growth and our ability to further strengthen our position as a leader in unified commerce,” he said. “We expect Q2 to be a continuation of our strong momentum.”

    The company said its merchants solutions revenue amounted to USD$1.35 billion in its latest quarter, up from USD$1.13 billion a year earlier, which it attributed primarily “to the benefit from the absence of logistics.”

    Meanwhile, subscription solutions revenue totalled USD$511 million, up from USD$382 million in the same quarter last year.

    On an adjusted basis, Shopify said it earned 20 cents USD per diluted share in its latest quarter, up from an adjusted profit of a penny USD per share in the first quarter of 2023. That compared with analysts’ expectations of 17 cents USD per diluted share, according to LSEG Data & Analytics.

    Automation enables growth without hiring

    Following last year’s job cuts, Shopify has kept its headcount flat for three consecutive quarters, said president Harley Finkelstein. He said he believes Shopify can limit headcount growth while “achieving a continued combination of consistent top-line growth and profitability” in part because of automation.

    “Over the past 18 months, we’ve committed significant effort into building efficient infrastructure and systems, which are instrumental in streamlining our work and maintaining our high-velocity product releases,” Finkelstein said. “Essentially, these systems and this infrastructure act as catalysts, enabling us to operate with increased efficiency and speed.”

    Hoffmeister pointed to increased use of artificial intelligence for merchant support. He said more than half of Shopify’s merchant support interactions in the first quarter were assisted by AI “and often fully resolved with the help of AI.”

    AI has also enabled 24/7 live support in eight languages that previously were offered only certain hours of the day.

    “We have significantly enhanced the merchant experience,” he said. “The average duration of support interactions has decreased, and the introduction of AI has helped reduce the reluctance that some merchants previously had towards asking questions that they might perceive as trivial or naïve.”

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    About The Canadian Press

    The Canadian Press is Canada’s trusted news source and leader in providing real-time stories. We give Canadians an authentic, unbiased source, driven by truth, accuracy and timeliness.

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  • C3 Industries’ Brotherly Model for MSO Success – Cannabis Business Executive – Cannabis and Marijuana industry news

    C3 Industries’ Brotherly Model for MSO Success – Cannabis Business Executive – Cannabis and Marijuana industry news

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    Tom Hymes

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  • “A big deal”: What the feds’ move to reclassify marijuana means for Colorado cannabis – The Cannabist

    “A big deal”: What the feds’ move to reclassify marijuana means for Colorado cannabis – The Cannabist

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    Cannabis advocates in Colorado cheered the Biden Administration’s reported move to reclassify marijuana and said the decision likely would reduce businesses’ tax burden significantly.

    Industry leaders cautioned that such a move — if finalized — would not resolve some major challenges facing the industry, such as limited access to banking. But they pointed to the symbolic importance of preparations by the U.S. Drug Enforcement Administration to downgrade the substance’s drug classification.

    A man pours cannabis into rolling papers as he prepares to roll a joint the Mile High 420 Festival in Civic Center Park in Denver, April 20, 2024. (Photo by Kevin Mohatt/Special to The Denver Post)

    Read the rest of this story on DenverPost.com.

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  • Amazon says a whopping 140 third-party stores in four countries use its Just Walk Out tech

    Amazon says a whopping 140 third-party stores in four countries use its Just Walk Out tech

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    Amazon published a blog post on Wednesday providing an update about its Just Walk Out technology, which it reportedly pulled from its Fresh grocery stores earlier this month. While extolling Just Walk Out’s virtues as a sales pitch to potential retail partners, the article lists a startlingly minuscule number of (non-Amazon) stores using the tech. There are now “more than 140 third-party locations with Just Walk Out technology in the U.S., UK, Australia, and Canada.”

    Mind you, that isn’t the number of companies or retail chains licensing the tech; that’s the total number of locations. Nor is that the tally in one state or even one country. In four countries combined — with a total population of about 465 million — Just Walk Out is being used in “more than 140 third-party locations.”

    On average, that means there’s one third-party Just Walk Out store for every 3.3 million people in those four countries. (They must be busy!) By contrast, there are over one million retail locations in the US, and, as of 2019, Starbucks had 241 locations in New York City alone, and there are over one million

    Amazon had reportedly already planned to remove Just Walk Out tech from its Fresh grocery stores for roughly a year because it was too expensive and complicated for larger retail spaces to run and maintain. The company now pitches its tech as ideal for smaller convenience stores with fewer customers and products — like its own Amazon Go stores, which it has been busy shutting down over the last couple of years.

    A medical workers scans a badge at an Amazon-powered Just Walk Out kiosk in a hospital.

    Amazon

    The company reportedly gutted the team of developers working on Just Walk Out tech earlier this month. (You get one guess as to how the laid-off workers were instructed to leave the office.) As part of recent layoffs from Amazon’s AWS unit and Physical Stores Team, the company allegedly left only “a skeleton crew” to work on the tech moving forward. A skeleton crew to maintain a skeleton sounds about right.

    In fairness, some of those locations are at high-traffic venues. That includes nine merch stores at Seattle’s Lumen Field (home to the Seahawks and Sounders), near Amazon’s headquarters. Delaware North, a large hospitality and entertainment company, has opened “more than a dozen” stores using the tech. Amazon says stores adopting Just Walk Out have reported increased transactions, sales and customer satisfaction.

    Despite the reported gutting of Just Walk Out’s development team, Amazon says it “continues to invent the next generation of this technology to improve the checkout experience for large-format stores.” Its next steps include improving latency for “faster and more reliable receipts,” new algorithms to recognize customer actions and new sensors better.

    If the reports about layoffs are accurate, the handful of remaining Just Walk Out developers will have their work cut out for them.

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    Will Shanklin

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  • Missouri-based Greenlight is Growing – Cannabis Business Executive – Cannabis and Marijuana industry news

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  • Dug In: Big Island Grown’s Deep Cannabis Roots – Cannabis Business Executive – Cannabis and Marijuana industry news

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    Tom Hymes

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