Steve Madden acquires Dolce Vita Holdings
Long Island City, N.Y. — Steve Madden has completed the acquisition of privately held Dolce Vita Holdings Inc., which specializes in the design, sourcing and sale of branded and private label footwear. The acquisition was completed for $60.3 million.
Dolce Vita sells fashion-forward footwear to wholesale customers, including department stores and specialty boutiques. In addition to marketing products under its owned brands, including Steve Madden, Steven by Steve Madden, Madden Girl, Freebird by Steven, Stevies, Betsey Johnson, Betseyville, Brian Atwood, B Brian Atwood, Report Signature, Report, Big Buddha, Wild Pair, Cejon and Mad Love, Steve Madden is the licensee of various brands, including Olsenboye for footwear, handbags and belts and Superga and l.e.i. for footwear. The company also operates 124 retail stores.
Kantar: Walmart narrowly maintains basket price edge over Target
Boston — Walmart continues to maintain its basket price advantage over Target, according to Kantar Retail’s semi-annual pricing study. But while Walmart maintained its lower-priced basket – with a leap even further ahead in non-edible grocery – the retailer’s basket was still only 1% less expensive than Target’s, the smallest price gap since the June 2012 study.
“Walmart’s slightly weakened stronghold on price leadership shows the difficulty in creating basket separation based on price,” said Laura Kennedy, principal analyst and primary contributor to the study. "These results emphasize the need for both retailers to pursue alternative methods to drive impression and value perception by their shoppers. The smaller price gap seems to reflect Walmart’s general shift toward a more nuanced and customized approach to EDLP (everyday low pricing). "
The 12th iteration of the semi-annual mass channel pricing study determines which retailer’s basket of grocery and consumable items offers shoppers the lowest price. The study reviews national brands and a sub-set of private label items.
Kantar Retail revisited the same co-located Walmart and Target stores in the Northeastern United States in June 2014 to re-assess a previously established basket of national brand items including edible grocery, non-edible grocery, and health-and-beauty aid (HBA) items. Only identical SKUs from both retailers were assessed.
Highlights of the study include:
• Walmart’s overall branded basket was just 1.2% less expensive than Target’s. Target narrowed the gap from the January 2014 study.
• Walmart maintained its lead in both grocery sub-baskets, widening the gap in the non-edible basket. Target’s edible basket was 10.5% more expensive than Walmart’s, even with two temporary price cuts and an equal number of “rollbacks” at Walmart.
• Target’s use of temporary price cuts declined again.
• Walmart’s basket featured twice as many rollbacks as in the last iteration.
• Gaps between prices for individual items at the two retailers narrowed.
Plug and Play Reveals Three Trending Retail Technologies
I’m excited to announce a new partnership Chain Store Age is launching with Plug and Play Tech Center, an innovative Silicon Valley tech startup investor whose mission is to connect promising tech startups with retail corporations in an attempt to help retailers transition into the technological age. From time to time, you will be seeing Plug and Play-related content on our site and in our magazine.
To help kick things off, I asked the folks at Plug and Play to name three technologies that are trending in retail right now. The answers I got were mobile, beacons and image recognition. Here are a few of my own thoughts on the significance of these disruptive technologies to the current and future state of retail.
Mobile Gains Mass Appeal
Constant mobile connectivity has become a fact of life for most consumers, starting as young as the tween demographic and even reaching the Greatest Generation. Consumers are living omnichannel lives, using mobile Internet access to enhance and expand physical reality, and retailers should tailor their customer experience accordingly.
Beyond simple steps like using responsive design or native development to create mobile-optimized e-commerce sites, retailers should also employ more advanced mobile technology strategies. These include sending time- and location-based promotional texts, providing mobile self-checkout applications, and enabling access to product information and videos via barcode and QR code scanning.
A Beacon of Information
Beacon technology, which uses low-frequency Bluetooth transmissions to help mobile devices track their position relative to stationary beacons, is getting quite a bit of attention from retailers. Beacons offer retailers the opportunity to obtain immediate location and buying preference data from opt-in customers who visit their stores.
Beacons offer many potential uses to retailers. While the majority of attention has been focused on the applicability of Beacons to targeted, time-sensitive marketing, they offer retailers other possibilities, as well. For example, Beacons can help retailers determine how individual shoppers are traveling their stores, where they are stopping, where they are avoiding, etc. This data can then be amalgamated and used to determine at a higher level what demographic groups are coming into the store and what differences in may exist in where and how they conduct their shopping experiences.
Image is Everything
The advanced image recognition feature on the new Amazon Fire smartphone, called Firefly, which allows users to instantly create shopping lists and make purchases of items, has heightened retailer interest in this still evolving technology. Today’s consumers function on “Internet time,” and the ability to instantly research and purchase an item through image recognition satisfies the customer ‘s need for instant service and the retailer’s need for converting and capturing sales.
Image recognition can also help retailers “retail-enable” the broader consumer environment, and bring customer service and sales functionality to virtually any customer touch-point. Amazon is taking an early lead in using image recognition as a sales and customer experience tool, but other forward-thinking retailers still have time to enter the space before Amazon dominates it.