Here are the recent happenings in the Retail and Consumer Tech world as of Nov 25, 2024:
A ransomware attack targeting a supply chain technology company has left major retailers grappling with disrupted operations. As reported by The Record (source), the attack underscores the vulnerabilities in interconnected systems, with experts calling for increased investment in cybersecurity to mitigate such risks.
Meanwhile, Kohl’s CEO Tom Kingsbury announced his resignation, sparking speculation about the company’s future direction. According to Reuters (source), Kingsbury will officially step down by year-end, with the board launching a nationwide search for his successor. Analysts believe this leadership change could signal a strategic pivot for the retailer.
Google has launched its “Holiday 100” list, spotlighting trending tech gifts for the season, such as AI-driven smart home devices and immersive gaming consoles. As detailed by Waka (source), this curated list aims to streamline holiday shopping with consumer-friendly suggestions.
Shoppable TV ads are also making waves this holiday season, with retailers leveraging the format to bridge entertainment and commerce. According to eMarketer (source), early adopters have seen increased engagement, signaling a shift in how brands connect with tech-savvy audiences.
Macy’s revealed that a rogue accountant concealed $154 million in expenses over the past fiscal year, as reported by CFO Dive (source). The company is now tightening its financial controls to restore stakeholder confidence.
On a brighter note, Bath & Body Works revised its annual sales forecast upward due to strong holiday demand. Reuters (source) highlighted the retailer’s resilience, with executives expressing optimism about continued growth into 2025.
A new report from The Packer (source) identifies sustainability and personalized experiences as top priorities for 2025 shoppers. From eco-friendly packaging to AI-driven recommendations, retailers are innovating to align with these evolving consumer values.
Finally, geolocation technology is transforming holiday shopping experiences. PYMNTS (source) explains how retailers are using real-time data to enhance convenience and satisfaction, particularly during high-traffic periods.
Brought to you in collaboration by the teams at EVOA Digital, CPG Cloud Partners, and Red Stapler. This article was initiated using AI technology provided by Apple and OpenAI. Contact us to learn more!
