The Modern Retail Podcast

Jon Alferness, Walmart's chief product officer, shares insights on integrating technology to enhance customer experiences. He discusses his collaborative role in launching major projects across departments. Alferness emphasizes that new products must address real customer needs, particularly in AI innovation. He explains Walmart's use of AI for guided searches and inventory management, while ensuring a human touch in customer service. The conversation also touches on digital shelf labels and strategies for improving the holiday shopping experience.

Retail sales in the U.S. bounced back unexpectedly in July, spurred by seasonal promotions and a positive job market. Beauty brands are pivoting to self-funding, seeking government loans as VC funding dwindles. Insights from the eTail East conference highlight the shifting dynamics of retail, especially in embracing profitability. Furthermore, AI's role in e-commerce is dissected, revealing a mix of excitement and skepticism, particularly among Gen Z. Brands are also navigating social media strategies to engage consumers effectively.

Tony Tjan, co-founder and CEO of Miniluxe, shares insights on transforming the nail salon industry through franchising. He believes that empowering employees to become "mani-millionaires" is vital for growth. The discussion centers on Miniluxe's commitment to hygiene, craft, and creativity in its salons. Tjan details the importance of selecting franchise partners who align with their values. Additionally, he emphasizes innovative products, like advanced Press-On Nails, as part of an ambitious strategy to elevate the brand and broaden accessibility.

This week’s episode of the Modern Retail Rundown kicks off with a Reuters report of Mars allegedly looking to acquire Kellanova, the parent company of Cheez-It and Pop-Tarts. Over at resale platform ThredUp, the company has made the decision to pull out of the European markets and focus on its U.S. business. Finally, employees at an Apple store in Maryland receive their first union contract two years after voting to unionize.

Revo is not a new company, but it's now in the process of reintroducing itself to more people.The performance eyewear brand first launched in the '80s selling fashionable sunglasses with science-backed sun protection. Over the years, the brand got sold to many big players, including Ray-Ban and Essilor Luxxotica. But in 2018, an eyewear company called B. Robinson -- with the help of some outside investors -- decided to purchase Revo."It didn't have the same level of investment and the same level of support that it has had as an independent brand," said Cliff Robinson, the CEO of Revo, as well as the chief executive of B. Robinson.Now, the company is in growth mode once again and just opened its first U.S. store in New York -- less than a year after opening a store in Barcelona."The growth has been coming from all these different sectors," said Robinson. "We're seeing growth in optical stores. We're seeing growth in the golf channel. We're seeing growth in the winter market with both goggles and sunglasses at resort areas. We're seeing growth from resorts and hospitality."Robinson joined the Modern Retail Podcast and spoke about the new strategy with Revo and what's ahead. The focus now is on reintroducing people to the brand. They may remember it from decades ago, but now the company is trying to get front and center. With that, it's been working with athletes -- including the U.S. sailing team.According to Robinson, Revo has always had the chance to become a true eyewear leader. "We felt there was this really great opportunity to breathe some additional life -- breathe some additional TLC -- and really make Revo the independent brand that it had been previously," he said.

On this week’s episode of the Modern Retail Rundown, the staff begins with a recap of some food establishment earnings, which include growing sales at Chipotle and Starbucks' continued slump. This week also saw Etsy’s announcing its first-ever membership program to incentivize shoppers with perks. Finally, a new report from Semafor outlines how former Starbucks CEO Howard Schultz is still indirectly involved in the company through joint investments in olive oil.

Nespresso's U.S. marketing strategy is about going beyond the coffee machine."We, first and foremost, are a coffee brand," said Jessica Padula, Nespresso's vp of marketing. She joined the Modern Retail Podcast and spoke about the brand's growth plans in the U.S.Nespresso has had retail locations for years. But the brand -- best known for its pod-based coffee brewing system -- has always tinkered with the model, testing out new markets and concepts while sunsetting others. According to Padula, the focus of Nespresso's new retail projects is to showcase the brand's coffee prowess."You want to go a level deeper," she said.For example, some locations have begun offering master classes to teach customers about the origin of some coffees. The hope is to make the coffee and its quality top of mind, according to Padula. "Sometimes, since the machine is what you lead with, that often gets in the way," she said.With this, Nespresso is testing out new types of retail concepts and looking into new locations. This includes updates to major markets."Newness in New York is definitely coming," Padula said.

On this week's episode of the Modern Retail Rundown the staff starts out with an analysis of the pending Kroger and Albertsons merger, which is now on hold. This week also saw LVMH-backed L Catterton reportedly approaching toy maker Mattel for a potential acquisition. Finally, Amazon returns are overwhelming retail drop-off points like UPS and Staples -- so much so, the store employees now refer to customers with these returns as "Amazombies."

Tecovas wants to be more than just about cowboy boots. The nine-year-old company has big plans to become a high-end Western wear lifestyle brand."Initially, it sort of was known as the Warby Parker of cowboy boots, if you will," said CEO David Lafitte on the Modern Retail Podcast. "We've tried to sort of migrate the positioning of the brand into more of a premium lifestyle brand."Lafitte -- who previously held C-suite positions at Deckers -- has been leading Tecovas for the last two years, and his mandate has been to expand beyond its cowboy boots roots. That includes expanding the brand's apparel line as well as growing its retail footprint. The company, which has locations in 20 states, adds between 10 and 12 store every year. By 2023, it had 33 locations and is on track to open 11 stores this year.The stores, according to Lafitte, are integral to Tecovas's success. For one, the locations are experiential playgrounds -- most have liquor licenses and they all focus on one-to-one connections with customers. What's more, the stores present a way for new customers to learn about Tecovas and its products.Right now, apparel represents around 20% of Tecovas's revenue. The brand is focused on growing that -- as well as growing its overall women's business.Along those lines, as Tecovas continues to expand, it is going into new areas that aren't necessarily associated with Western culture. It is opening a location in Boston, for example, and is keeping an eye out for another East Coast spot."We've been looking in New York. We want to find the right spot," said Lafitte. "I'd like to be in Soho."

This podcast episode covers the huge success of Prime Day with over $14 billion in sales, Limited Too's comeback at Kohl's targeting young shoppers and parents, and Pacsun's expansion into men's athleisure with their new ARC line.