How Digital Transformation Is Reshaping the Global Fashion Industry
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Commercetools Platform This White Paper Applies to the Commercetools Platform Running in Europe, the US and APAC
Information Security White Paper commercetools platform This white paper applies to the commercetools platform running in Europe, the US and APAC www.commercetools.com Table of Contents Introduction 3 What is commercetools? 4 Security Culture 4 Information Security Management Information Security Controls Human Resource Security Physical Security 5 Data Center Offices commercetools Platform 6 System Overview API Security Payment API Product Security Data in Transit Data at Rest Data Access Restrictions Separation of Production and Non-Production Environments Operational Security 8 Network Security Vulnerability Management Patch Management Malware Prevention Monitoring Incident Management Security in Development Process 10 Performance Management 10 Data Backup and Business Continuity Management 10 Supplier Relationships 11 Compliance 11 Data Processing Agreements International Data Transfer Data Protection Officer Information Security Certifications Conclusion 12 Introduction From the world’s largest public companies to early-stage startups, people rely on the commercetools ecommerce platform to run their business. Using the platform, companies can provide customers with detailed product data and create and update carts. Order data and customer data are then managed together in the platform. Thus, it’s mission critical for all our merchants that the commercetools platform - especially its API - is running nonstop. But, providing a reliable solution is only the first step. commercetools must also follow the latest information security best practices and comply with privacy regulations. This allows all companies to securely run their business on commercetools. We believe that transparency in security processes and controls is indispensable. For our customers it is important to know who can access their data when, and what measures are taken to prevent unauthorized access. -
The Retail Apocalypse - Fact Or Fiction?
The Retail Apocalypse - Fact or Fiction? May 10, 2019 Panel Introductions • Moderator: • Manuel Farach, Member, McGlinchey Stafford • Panelists: • Sarah Lemke, Vice President, Project Development, New England Development • Matt Epstein, Director, Goulston & Storrs, P.C. Agenda • Current State of Retail • Is It Really an Apocalypse? • Strategies for the New Future of Retail • Conclusion and Q&A Current State of Retail- Store Closures Abound ▪ Over 12,000 stores closed in 2018 ▪ Over 5,800 stores have already announced closures planned for 2019, including: ▪ Payless- 2,500 stores ▪ Gymboree- 805 stores ▪ Family Dollar- 390 stores ▪ Shopko- 371 stores ▪ Gap- 230 stores ▪ Sears- 70 stores ▪ Victoria’s Secret- 53 stores ▪ Abercrombie & Fitch- 40 stores ▪ Other retailers closing: Aerosoles, American Apparel, BCBG, Bon-Ton, Children’s Place, CVS, Dollar Tree, Foot Locker, Guess, JC Penney, Limited, Macy’s, Michael Kors, Toys R Us, Victoria’s Secret, Wet Seal © New England Development 4 Current State of Retail - Store Closures Abound © New England Development In 2018, over 145 million square feet of retail closed 5 Current State of Retail - Bankruptcies Continue © New England Development 6 What’s Causing Widespread Closures and Bankruptcies? ▪ Retailers facing massive debt from private equity financings ▪ E-Commerce and the “Amazon Effect” ▪ “Over-Retailing”/Saturation of the Market ▪ Changing Consumer Demands ▪ Inability to Adapt © New England Development 7 E-Commerce - Part of the Problem E-commerce continues to gain steam- growing 15% in 2018, -
Municipality
TheMunicipality Your Voice. Your Wisconsin. January | 2019 2019–2020 LEAGUE LEGISLATIVE AGENDA Split Party After the Retail Apocalypse, Preparing Wisconsin New Records Control is Good Small State Agency — Prepare for the Property Opportunity Zones Schedule Approved for Municipalities Big Statewide Impact Tax Meltdown for Investment for Municipalities 4 8 The Municipality12 | January 2019 20 24 1 Is there a company that insures only cities and villages? Oh yes, dear Why LWMMI, of course For 33 years, the League of Wisconsin Municipalities Insurance Program has responded to the coverage needs of local cities and villages, saving them substantial amounts of money in the process Protecting The Communities We Live In. 608.833.9595 | www.LWMMI.org A Mutual Company Owned by Member Cities and Villages. TheMunicipality The Municipality Official Monthly Publication of the League of Wisconsin Municipalities January | 2019 Volume 114, No. 1, January 2019 Editorial Offices 131 W. Wilson St., Suite 505, Madison, WI 53703 Feature Dial (608) 267-2380 In-State (800) 991-5502 Fax: (608) 267-0645 Small State e-mail: [email protected] Split Party Agency — Here’s to Did You Website: www.lwm-info.org Control is Good for Big Statewide You Know? The Municipality serves as the medium of Municipalities Impact exchange of ideas and information on municipal affairs for the officials of Wisconsin cities and villages. Nothing included herein is to 3 4 8 11 be construed as having the endorsement of the League unless so specifically stated. The Municipality (ISSN 0027-3597) is published monthly at $25 per year ($5.00 per copy, back After the Retail Preparing issues $5.00 each) by the League of Wisconsin Apocalypse, Wisconsin Municipalities, 131 W. -
The Rise of Late-Stage Funding for European Technology Scale-Ups
Blooming Late: The rise of late-stage funding for European technology scale-ups NOVEMBER 2019 Introduction Europe’s technology industry continues to grow up. Across the EU, Israel, Russia and Turkey, startup ecosystems are flourishing, expanding and - in a few places - maturing into veritable world-class hotbeds for innovation. Evidently, challenges remain and Europe will have to overcome many of them to even have a chance of staying competitive in an ever-evolving world - and with haste to boot. To continue scaling up and accelerate the maturation process of its key tech hubs, Europe has to play to its strengths and eliminate some of its inherent weaknesses to mitigate the risk of getting left behind. Two of these weaknesses have historically been the lack of major exits and late-stage financing rounds (€100 million and more) for Europe’s fastest-growing tech businesses as catalysts for growth. As we’ve detailed in previous reports on the influx of capital for Europe’s finest tech startups, there has been a tremendous increase in investment volume for early-stage and growth-stage companies in recent years, with no signs of a slowdown so far. Numbers only tell part of a story, but the rise in seed and growth capital (Series A-B-C) flowing to European tech businesses across the region paints a picture of a healthy collection of ecosystems with potential for further growth. But when it comes to really big rounds of financing, Europe hasn’t really seen many of those to date, certainly not in comparison to the US and, increasingly, China. -
The Retail Apocalypse - Debunking the Myth
Public Square | CNU Journal September 2019 The Congress for the New Urbanism Page 1 The Retail Apocalypse - Debunking the Myth Introduction – The “Retail Apocalypse” is a This article also touches on some emerging retail concept being actively promoted through media trends, including retrofitting vacant mall anchors headlines, and largely based on recent closures and leveraging the “Halo Effect” of Omni-channel among national chain stores across the nation. marketing to optimize retail sales. However, it is only a myth that can be easily debunked with real data. Increasing Number of Retail Establishments – The hypothetical Retail Apocalypse should be It is important to debunk the myth and change supported by a decline in the total retail the dialogue about the future of retail establishments – but nothing could be farther nationwide, in our downtowns, and all urban from the truth. In fact, the United States had over settings. By challenging mainstream media and 1 million retail establishments in 2018 – and more shifting the conversation, we hope to instill new than the prior year 2017. More specifically, the faith and encouragement for urban and town Bureau of Labor Statistics (BLS) reported planners, developers, downtown merchants, and 1,044,509 establishments for 2018, for a net gain of main street managers. +2,413 establishments since 2017 (1,042,096). The 2018 figure also represents a net gain of over This article explores real data and demonstrates +20,800 establishments since the trough in 2011. that the total number of retail establishments and aggregate retail sales are actually increasing; A timeline of total retail establishments since 2001 new chain stores and restaurant openings are is shown in chart below. -
Salling Group
Case Study Salling Group The company With more than 1,600 shops, Salling Group is the biggest retailer in Denmark. They’re stores include household Salling Group chain brands such as fotex, Bilka, Netto, Salling and Wupti, as well as Starbucks and Carl’s Jr. franchises in Denmark, and more than 1,400 stores and web shops in Founded: 1906 Poland and Germany. Headquarters: Brabrand, Denmark The challenge Salling Group began to realize they needed to Industry: Retail strengthen their omnichannel experience, which Revenue: 9 billon USD required technology that would serve their customers across all digital channels. Furthermore, it was clear that Employees: 50,000 their existing SAP Hybris setup was not scalable in terms of cost efficiency and recruiting talent. Partner: In-house The solution Salling Group implemented a new tech stack with commercetools’ headless commerce architecture at its core, and based on modern UX designs with a mobile- first mindset. Headless CMS (Magnolia), microservices, APIs and Jamstack to replace the monolithic platform. The result The solution brought time-to-market for their new web shops down to a two-month lead time and lowered eCommerce costs by 75%. It also enabled each brand to customize their online shop and content, while still working under the same technology. Additionally, release cycles increased from once every other week to multiple times per day. Salling Group refreshes its eCommerce Breaking free from the monolith In 2013, when Salling Group made the decision to re-platform their digital stores, they went with the obvious choice at the time: SAP Hybris. But seven years is a long time in an industry that seemingly has daily breakthroughs, and what appears shiny and new at the beginning can become cumbersome and outdated in no time at all. -
Resilient Forms of Shopping Centers Amid the Rise of Online Retailing: Towards the Urban Experience
sustainability Article Resilient Forms of Shopping Centers Amid the Rise of Online Retailing: Towards the Urban Experience Fujie Rao Melbourne School of Design, University of Melbourne, Melbourne 3010, Australia; [email protected] Received: 13 June 2019; Accepted: 17 July 2019; Published: 24 July 2019 Abstract: The rapid expansion of online retailing has long raised the concern that shops and shopping centers (evolved or planned agglomerations of shops) may be abandoned and thus lead to a depletion of urbanity. Contesting this scenario, I employ the concept of ‘retail resilience’ to explore the ways in which different material forms of shopping may persist as online retailing proliferates. Through interviews with planning and development professionals in Edmonton (Canada), Melbourne (Australia), Portland (Oregon), and Wuhan (China); field/virtual observations in a wider range of cities; and a morphological analysis of key shopping centers, I find that brick-and-mortar retail space is not going away; rather, it is being increasingly developed into various shopping spaces geared toward the urban experience (a combination of density, mixed uses, and walkability) and may thus be adapted to online retailing. While not all emerging forms of shopping may persist, these diverse changes, experiments, and adaptations of shops and shopping centers can be considered a form of resilience. However, many emerging shopping centers pose a threat to urban public life. Keywords: retail resilience; online retailing; shopping center; urban experience; urbanity 1. Introduction Shopping has been at the heart of urbanity since the earliest cities developed as sites of exchange. One sees and touches the product, perhaps smells and tastes it, bargains with the trader and experiences the larger social, political and cultural life that comes with traditional marketplaces. -
Perspectives on Retail and Consumer Goods
Perspectives on retail and consumer goods Number 7, January 2019 Perspectives on retail and Editor McKinsey Practice consumer goods is written Monica Toriello Publications by experts and practitioners in McKinsey & Company’s Contributing Editors Editor in Chief Retail and Consumer Goods Susan Gurewitsch, Christian Lucia Rahilly practices, along with other Johnson, Barr Seitz McKinsey colleagues. Executive Editors Art Direction and Design Michael T. Borruso, To send comments or Leff Communications Allan Gold, Bill Javetski, request copies, email us: Mark Staples Consumer_Perspectives Data Visualization @McKinsey.com Richard Johnson, Copyright © 2019 McKinsey & Jonathon Rivait Company. All rights reserved. Editorial Board Peter Breuer, Tracy Francis, Editorial Production This publication is not Jan Henrich, Greg Kelly, Sajal Elizabeth Brown, Roger intended to be used as Kohli, Jörn Küpper, Clarisse Draper, Gwyn Herbein, the basis for trading in the Magnin, Paul McInerney, Pamela Norton, Katya shares of any company or Tobias Wachinger Petriwsky, Charmaine Rice, for undertaking any other John C. Sanchez, Dana complex or significant Senior Content Directors Sand, Katie Turner, Sneha financial transaction without Greg Kelly, Tobias Wachinger Vats, Pooja Yadav, Belinda Yu consulting appropriate professional advisers. Project and Content Managing Editors Managers Heather Byer, Venetia No part of this publication Verena Dellago, Shruti Lal Simcock may be copied or redistributed in any form Cover Photography without the prior written © Rawpixel/Getty Images consent of McKinsey & Company. Table of contents 2 Foreword by Greg Kelly 4 12 22 26 Winning in an era of A new value-creation Agility@Scale: Capturing ‘Fast action’ in fast food: unprecedented disruption: model for consumer goods growth in the US consumer- McDonald’s CFO on why the A perspective on US retail The industry’s historical goods sector company is growing again In light of the large-scale value-creation model To compete more effectively Kevin Ozan became CFO of forces disrupting the US retail is faltering. -
Has the Retail Apocalypse Hit the DC Area?
POLICY BRIEF Has the Retail Apocalypse Hit the DC Area? Leah Brooks, Urbashee Paul and Rachel Shank APRIL 2018 POLICY BRIEF APRIL 2018 | LEAH BROOKS, URBASHEE PAUL AND RACHEL SHANK1 In 1977, the White Flint Mall opened to great acclaim as Maryland’s premier mall, complete with glass elevators, glamorous anchor stores, and an exciting eatery. Now, more than four decades later, White Flint Mall is situated in a sea of empty parking lots. Except for anchor tenant Lord and Taylor, with which the mall owner is in protracted litigation, the mall sits empty. About a decade before White Flint launched, Northern Virginia’s Tysons Corner Center opened, also to acclaim. Tyson’s Corner has seen continued success,2 welcoming Apple’s flagship store in 2001,3 and Spanx’s first brick and mortar store in 2012.4 The promised increase in walkability ushered in by the Silver Line expansion has heralded opportunity for new residential and commercial development.5 To what extent is this divergence due to e-commerce? The Rise of E-commerce Indeed, there is substantial evidence that brick-and-mortar retail is suffering. CNN Money10 reports that 2017 marked E-commerce dates to 1994, when the New York Times the highest number of retail store closure announcements in reported that Philadelphia’s Phil Brandenberger used his history. Within the past year, once-prominent malls in computer to purchase a Sting album. In the following year, New Jersey and Pennsylvania have closed almost 200 Amazon sold its first book, and Pierre Omidyar founded stores. And the wave seems unlikely to be over: Toys R Us Ebay.6 has recently declared bankruptcy, while long-time anchor tenants Sears, Kmart, J.C. -
PASI News Winter 2019
Volume 43 - Number 4 Winter 2019 Professional Advisory Services, Inc. 2770 Indian River Blvd. – Suite 204 • Vero Beach, FL 32960 (800) 847-7274 • (772) 778-0552 • fax (772) 770-2979 Market Update – An Extraordinary Decade by David A. Jaffe, M.D. In his book Thank You for Being Late, author Thomas Friedman poses detailed and compelling arguments suggesting that our planet is experiencing one of the greatest inflection points in world history – catalyzed by the accelerating impact of technology, globalization, and climate change. It is a well-documented and compelling read. In the shadow of this postulate, the “twenty-tens” were a pretty good but hardly extraordinary decade in the financial markets. Consider: the 256% total return of the S&P 500, translating into an average annual return of 13.5%, makes it only the fourth best decade since the 1930s (yawn). Of course, one could be forgiven for exaggerating the magnitude of the decade’s progress when taken in the context of recent history, specifically following on the heels of the “twenty-oughts”. Dubbed by some the “lost decade”, investors holding the S&P 500 from 2000-2010 experienced a decline of 0.86%, even after reinvesting cash dividends. The lost decade earns the dubious distinction of being the worst 10-year investment period since the 1930s, thanks to the Great Recession and stock market plunge of 2008-2009. The dreary market experience of that era set the stage for the healthy recovery that we have all enjoyed over the last ten years. Governments around the world pumped trillions into projects which spurred economic growth, while central banks led by the U.S. -
Bankruptcy Trends and Developments in the Retail Industry George H
Domestic and International Bankruptcy Thought Leadership Bankruptcy Trends and Developments in the Retail Industry George H. Haramaras The retail industry is dynamic and changes quickly. Although dramatic headlines referring to retailers in bankruptcy (e.g., “retail apocalypse”) may be overstated, the retail industry is at an important stage in its history. Retail bankruptcies are frequent and they experienced an increase in volume in 2018. Big changes are occurring in the retail industry. Accordingly, this discussion examines bankruptcy in the context of the retail industry. This discussion broadly examines the retail industry. This discussion identifies current developments and important indicators associated with the retail industry. This discussion summarizes important operational attributes of retail operators. This discussion examines how the unique attributes of retail affect industry debtors in bankruptcy. Finally, this discussion describes several specific areas of the bankruptcy process relevant to retail debtors and identifies trends in retail bankruptcies. NTRODUCTION “retail apocalypse” can be misleading when describ- I ing the recent state of retail industry bankruptcies, The retail industry is dynamic. It is highly vola- 2018 did represent an uptick in the number of tile, currently undergoing significant changes, and retailers filing for bankruptcy. It is an important consists of companies with visible brands designed time for retailers. to capture the attention of consumers. As a result, when a large retailer files for bankruptcy, it can This discussion develops a clear picture of the garner disproportionate attention and grab head- retail industry today, and then examines the trends lines. For example, while Sears Holding Corporation and developments of retail companies in the context (“Sears”) was debatably the most familiar bank- of bankruptcy. -
Connected Cars: Disruption in Mobility
Connected Cars: Disruption in Mobility commercetools.com The eCommerce Solution for Innovators and Visionaries commercetools is a next-generation software technology company providing the building blocks for the new digital commerce age. The cloud-native platform enables brands and retailers to build innovative shopping experiences across all touchpoints like web, mobile, voice, and in-car. www.commercetools.com Introduction When the automobile was invented at the end of the 19th century, it was basically meant to serve as a substitute for horses and carriages. With the help of a combustion engine, an array of knobs, switches, and a steering wheel, drivers could drive their vehicle around, carrying other passengers and goods. Now, imagine if a time machine could bring Karl Benz, Gottlieb Daimler, and Henry Ford to our time, what would they see? Electric cars are becoming more popular, instead of complex combustion engines, those cars only need simple electric motors. Cars are connected to the internet, which allows them to get automated updates and have drivers and passengers enjoy all The eCommerce kinds of entertainment. Oh, and no more knobs needed: people just use their voice to play a new song, look for the next service station, pre-order a cup of cofee or make dinner reservations. And in a not-so-soon future, Solution for vehicles drive autonomously, so no human drivers are needed. For sure, things have changed a lot. These days, the web is ubiquitous, connecting people and things with each other. Why should cars be an exception? Electronic mobility and autonomous driving are changing the way Innovators and in which car manufacturers deliver value to their customers.