In today’s top retail news, Target is expanding its partnership with Disney to add more than 160 new stores in stores across the United States, and Francesca CEO Andrew Clarke told PYMNTS “there is no playbook” for retailers after the pandemic. In addition, Chinese e-commerce giant JD.com is seeing revenue surge as its home country remains stranded due to COVID-19, while brand accelerators such as Heyday seek to institutionalize digital markets.
Target adds more than 160 Disney stores to stores as part of expanded partnership
Ahead of the holiday shopping season, Target is expanding its partnership with Disney, adding dozens of new shopping experiences in stores across the country. By the end of 2021, over 160 Target locations will have Disney stores in their toy section, selling merchandise from popular Disney movies. Disney and Target first teamed up ahead of the 2019 holiday shopping season.
Francesca CEO Says ‘No Playbook’ is New Standard for Retail
Francesca CEO Andrew Clarke told PYMNTS that the traditional mindset of seasonality and timing of what a customer wants at a particular time of year “has been completely turned upside down.” For example, even as back-to-school shopping escalates, Francesca’s still sees a lot of travel and vacation spending, as well as an increase in clothing for dating and social events. The Texas-based specialty retailer filed for bankruptcy in December and was sold to hunting horse bidders TerraMar Capital and Tiger Capital earlier this year.
JD.com sees massive revenue increases as China remains on lockdown
Chinese supply chain-based technology and services company JD.com reported second quarter 2021 net sales of $ 39.3 billion, up 26.2 percent from the previous year. the previous year, and net service revenues of $ 5.3 billion, nearly 50% more than in the same period. one year earlier. Earlier this month, China implemented a new wave of travel restrictions and quarantine orders as the country battles the growing spread of COVID-19 and the highly contagious delta variant. China has said it plans to maintain its pandemic border restrictions until at least the second half of 2022.
Brand aggregators and accelerators seek to institutionalize digital markets
Heyday co-founder and CEO Sebastian Rymarz told PYMNTS that a stigma around big digital native brands that don’t sell on Amazon or other digital marketplaces has held back the institutionalization of markets as an economy. digital. This stigma is quickly eroding, as consumers increasingly look to markets as convenient places to purchase a wide selection of items. “If you start an e-commerce business, obviously the digital market will be your biggest channel,” he said. “It won’t be direct to the consumer.”