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Tag Heuer’s watchmaking apprenticeship program.
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March 28, 2024

Retail Brew

Listrak

Hey hey, everyone. It seems people are unsure whether 7-Eleven’s hot dog-flavored sparkling water it unveiled yesterday is an April Fools’ Day stunt. The company claims it’s releasing more details on its newest product on Monday, April 1. If it turns out not to be a prank, we’ll issue a mea culpa, but…

In today’s edition:

—Jeena Sharma, Alex Vuocolo, Katishi Maake

OPERATIONS

Watch out

Tag Heuer watchmaking process image Tag Heuer

A luxury watch today is considered somewhat of an investment with its intricate, carefully crafted design that works harmoniously with the technical aspects of a watch.

However, to create such a thing requires a particular set of skills that, according to LVMH-owned luxury watch company Tag Heuer, is rapidly on the decline.

It’s why earlier this year, the retailer launched an apprenticeship program to train aspiring watchmakers. The one-year training program, which started in February in New Jersey, is a part of LVMH’s larger Métiers d’Excellence Institute, first established in Europe in 2014 and expanded to North America in 2022. The luxury conglomerate runs similar training programs in partnership with other brands under its umbrella like Tiffany & Co. and Louis Vuitton that train young luxury hopefuls in design, craft, and retail.

“At LVMH, we have 289 métiers around the world, or trades, that represent about 80,000 of our employees [that] are working in these roles,” Gena Smith, chief human resources officer at LVMH North America, told Retail Brew. “These are creative [and] retail roles, which is another very important material for us…we really rely on these positions and the skills and these métiers to drive our business.”

Keep reading here.—JS

     

PRESENTED BY LISTRAK

Deliver a serotonin boost

Listrak

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Listrak can show you how it’s done. As retail’s leading customer engagement platform, they provide truly top-notch SMS and email marketing to more than 1k big-timers like Hunter Boots, Untuckit, and Le Creuset.

To help you crush it, they’ve put together the 2024 Cross-Channel Benchmark Report. This bad boy goes in on how to drive click-through rates, conversion rates, and rev by using email and SMS to deliver campaigns your customers actually wanna see.

Send your audience a message.

RETAIL

Greening CPGs

ESG Happy Kikky/Getty Images

It’s proxy season, the time of year when shareholders of public companies come together to vote on major initiatives, and apparently climate change is top of mind for investors.

A new study from sustainability nonprofit Ceres found that shareholders have filed 263 climate-related resolutions this year, a record number for a proxy season, and that the consumer goods sector saw the largest share, with more than 70 proposals.

  • Of those, 28 proposals were in the consumer staples sector, and 45 were in the consumer discretionary category, which includes hotels, restaurants, and retailers.

Why are CPG companies seeing more proposals than sectors generally more associated with carbon emissions, such as energy and industry?

Keep reading here.—AV

     

E-COMMERCE

Let’s figure it out

Box with a shipping label Pandion

If you’re a retailer and want to scale your business beyond the mom and pop level, you’re going to need some help. Today, we’re focusing on companies innovating to make growth more attainable.

Get it to me: Pandion, a parcel delivery network, announced a $41.5 million Series B last week that it will use for new tech, expanding geographically, reducing delivery times, and growing its leadership team.

  • Pandion helps retailers like Saks Fifth Avenue manage packages by picking them up at fulfillment centers, sorting them, and completing last-mile delivery.
  • Right now, Pandion, which specializes in residential e-commerce delivery, reaches more than 80% of homes in the US and owns sortation centers near Dallas, Los Angeles, Chicago, Atlanta, and Philadelphia—with more planned.

Keep reading here.—KM

     

TOGETHER WITH WALMART BUSINESS

Walmart Business

Because a supply closet without supplies is just a closet, stock up on office essentials with a little help from Walmart Business. Choose from an ever-expanding selection of must-have items + get everything delivered straight to your office—or closet—with the Walmart prices you know + love.

SWAPPING SKUS

Today’s top retail reads.

Brick by brick: The Home Depot has inked a more than $18 billion deal to acquire building materials supplier SRS Distribution. (Reuters)

Gotta blast: Sephora is one of the big dogs of the beauty and cosmetics space, but it’s struggling to keep its head above water in one of its most competitive markets. (The Street)

Slam dunk: If you’re paying attention to the women’s NCAA tournament, you’ll have realized there’s been increased attention and $$$ dedicated to women’s basketball, and sports more broadly—but are retailers catching on? (Adweek)

Drop a line: Your audience is waiting to hear from you. Let Listrak’s 2024 Cross-Channel Benchmark Report show you how to ace the SMS and email messaging game. Say hi.*

*A message from our sponsor.

JOBS

Are you looking for your next career opportunity (either a full-time role or a seat on a board of directors)? View hundreds of confidential jobs in the retail industry on ExecThread. Retail Brew subscribers can skip the application review and instantly join ExecThread.

NUMBERS GAME

The numbers you need to know.

In 2024, resale is mainstream, and according to ThredUp’s 12th annual resale report, it shows no signs of slowing down.

Globally, the secondhand apparel market is estimated to reach $350 billion by 2028, and last year, the US market outpaced the broader retail market by 7x and is anticipated to hit $73 billion in four years.

In what was first found in this report, younger shoppers prefer shopping secondhand online rather than in a store.

  • A plurality of younger shoppers (45%) would rather buy secondhand online, as opposed to 38% who prefer brick and mortar.
  • Almost 2 in 3 shoppers who shopped resale last year made at least one online purchase, which was 17 percentage points higher than 2022.

A big part of resale’s appeal is cost efficiency, particularly during a time when consumers are cash-strapped; nearly 75% of respondents said the value proposition is secondhand’s biggest appeal. Plus, 3 in 5 said resale gives them the best “bang for their buck.”

  • Just over half (55%) said they’ll up their resale spending if the economy doesn’t get any better.

“Secondhand’s flexibility in meeting such varied needs is a key reason it’s become so popular and has such a promising growth trajectory,” Neil Saunders, managing director at GlobalData, said in a statement.

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