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Wal-Mart targeting $9 billion in e-commerce sales

BY Katherine Boccaccio

Rogers, Ark. — As part of its annual address to investors on Wednesday, Wal-Mart Stores said it expects global e-commerce sales to reach $9 billion next fiscal year.

The retailer said it has made walmart.com easier to shop with a new search engine, enabled cash payment functions, and is now testing same-day delivery in four markets and a scan-and-go service for smartphones.

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News

Report: Moderate improvement in Q3 for commercial real estate

BY Katherine Boccaccio

Los Angeles — CBRE Group said Wednesday that the U.S. commercial real estate market continued to show moderate improvement across all property sectors in third quarter 2012.

In the retail sector, properties continued to see modest improvement in availability, which fell 10 bps to 12.9%, during the third quarter.

“Real estate occupancy continues to improve slowly, mirroring the sluggish economic recovery,” said Jon Southard, managing director of CBRE’s Econometric Advisors group. “However, local conditions continue to vary widely. The majority of markets did see more space occupied than in the prior quarter, but in many markets, the occupancy increase was not enough to significantly decrease the total space available.”

The report found that a majority of the retail markets recorded either flat or declining availability rates compared with second quarter 2012. Notable top performers included Cleveland, Jacksonville, Fla., Bakersfield, Calif., Charlotte, N.C., and Cincinnati. On the bottom end were Las Vegas, Indianapolis, Tampa and Fresno, Calif., which recorded increases in availability rates of at least 50 bps in the third quarter.

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Survey: Customer preference top concern for retailers

BY Michael Johnsen

Miami — While out-of-stock items and inventory performance remain top-of-mind, retailers’ concerns about understanding customer preferences — along with their own ability to respond to those preferences with new ideas about pricing and promotions — have become top business challenges, according to a survey of 96 retailers published Wednesday by Retail Systems Research.

According to the survey, 34% of all respondents plan to optimize their assortments against new key customer segments in the coming year. Another 24% plan to include initial price optimization in their processes in 2013, and 22% will incorporate promotion optimization.

The report is part of RSR Research’s ongoing efforts to provide market intelligence on retail technology trends and can be downloaded here.

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