Nike offering 3% cash back on Apple Card | Inside Ecommerce - November, 26th 2019

Inside Ecommerce (Nov 26th, 2019)

Earnings: Dick’s, Best Buy / Gucci's LA restaurant / Dunkin' candles


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Hi Retail readers!

When you read down in today's issue, you might be surprised to see a big chunk of people admitted to shopping while driving. Using phones while driving is not banned everywhere, so some folks apparently use time behind their wheel to shop. 

Hit reply and tell me what you think about that here or over on Twitter.

- Cassidy

1. Dick's Sporting Goods announced earnings this morning and had a strong third quarter with net sales up 5.6 percent and same-store sales up 6 percent over last year. Chairman and CEO Ed Stack attributed the growth to "increases in both average ticket and transactions, as well as growth across each of our three primary categories of hardlines, apparel and footwear." Dick's increased its annual sales and earnings outlook for the third time this year. Stack also said the opening of two new "eCommerce fulfillment centers and enhanced website functionality" also contributed to the success. EComm sales were up 13 percent in the quarter ending November 2. - CNBC

2. Best Buy reported stronger than expected quarterly earnings this morning and increased its full-year forecast. Quarterly same-store sales increased 1.7 percent, compared to the $1.3 percent analysts expected. Reuters reported Best Buy's success came from its focus on in-store repairs and tech support, as well as financing. Best Buy's holiday plans include offering next-day delivery for thousands of items ordered online. - REUTERS

3. NPD Group released its annual holiday survey that found one in five shoppers will buy online and pick up in store for the holidays. NPD's chief industry advisor wrote stores benefit from BOPIS integration because that's where the "most impulse spending takes place." NPD found 39 percent of customers will use apps more this holiday season, and a quarter of all customers will use smartphones to make holiday purchases this year. Retailers can grow profits too from using BOPIS. Target's CEO recently said when customers used BOPIS and other shipping options, "about 90% of the cost [of logistics to the retailer] goes away." - FN

4. Dunkin' partnered with Homesick candle company to offer three limited-edition candles that have one food critic asking "is it bad to eat a candle?" Korin Miller wrote for Delish that, "there are few things in life as effortlessly delicious as walking into a Dunkin' and breathing in deeply." The candles took two months to develop and are made by Homesick, the company that makes candles that have scents reminiscent of home states. The $30 candles come in Original Blend Coffee, Peppermint Mocha Flavored Coffee, and Old Fashioned Donuts scents. - ELITE DAILY

5. Shopping while driving is a trend that 39 percent of Americans admitted to doing according to a new Harris Poll. The data comes from a study on distracted driving that found people browsed, checked order status, looked for availability in-store, and also looked for deals and coupons. “There might be flash sales going on or you’re driving home from work, and when you’re depleted, you don’t have as much self-control and you don’t resist the temptation,” says a customer insight expert from the Yale School of Management. The study also found 33 percent checked out and paid for items in their carts while driving. Men were more likely to admit shopping while driving than women, and people over 55 do it three times less frequently than 18- to 54-year-olds. - FAST COMPANY

Have you done it? Hit reply and tell me!

6. Nike is the latest retailer to provide 3 percent Daily Cash to Apple Card users in the U.S. All physical and digital retail purchases made with Apple Pay qualify, and apparently Apple Pay support is coming to Nike.com soon. Nike joins Uber, T-Mobile, Walgreens, and Duane Reade in the 3-percent club. The Apple Card has been well-received and, like other cash back cards, Apple has expanded its partnerships with the cash back program. Apple is also donating $1 to (RED) for every Apple Store purchase made with Apple Pay through December 2. — TECHCRUNCH

A version of this news item originally appeared in Inside Apple.

7. Gucci is opening a restaurant in Los Angeles by Spring 2020. This will be the second restaurant for the luxury brand and the first outside of Italy. The first Gucci restaurant in Florence just recently won a Michelin star earlier this month. Gucci's LA restaurant will open on Rodeo Drive. WWD reported that Dior also is planning a restaurant on Rodeo Drive. - WWD

8. Private equity firms are investing in luxury fashion and are following the trend as more individuals with higher net worth shop for luxury goods. Versace, Escada, and Italian sneaker brand Golden Goose are examples of brands that have grown as a direct result of private equity investments. A managing director at U.S.-based Carlyle Group said, "This is actually a really good time for people who know the space to “make good deals." Other buyout firm names include Blackstone, Regent, and Mandarin Capital Partners. - MARKETWATCH

9. Artist Yayoi Kusama is the first woman to create a balloon for the Macy's Thanksgiving Day Parade. Macy's tweeted a behind-the-scenes look at how the artist designed and developed the balloon known as "Love Flies Up to the Sky." It's as wide as seven taxi cabs and requires 40 handlers. The balloon is being met with excitement from fans. The decision to work with Kusama was part of Macy's Blue Sky Gallery program where it partners with contemporary artists to make balloons for the parade. Past artist collaborations for Macy's have included the works of Keith Haring, Jeff Koons, and Takashi Murakami. But there's a chance Kusama's balloon, along with others, might not fly as strong winds are expected in New York on parade day. A decision will be made Thanksgiving morning. - ARCHITECTURAL DIGEST

10. WWD compiled a list of five holiday pop-ups in New York City worth a visit. Accessories company Stoney Clover Lane is opening its first pop-up where customers can shop the full assortment of travel bags. The pop-up offers in-store customization and special NYC patches for the luggage. Jewelry brands Mejuri and The Last Line both have opened their first physical stores. The Last Line has a piercer in-store, and Mejuri went for an interactive maze with multiple 'grammable moments. The Skimm is bringing 150 curated products to its "Celebrate Smarter Shop." Finally, fashion designer Nili Lotan is using her pop-up to get new retail partners in the wake of Barneys bankruptcy. - WWD

Written and curated by Cassidy Mantor, a brand storyteller with a decade of retail marketing experience including in-house at Nike and Oakley. Occasionally she writes a “think piece” about fashion law for the American Bar Association. She is happy to be based in coastal Virginia except when there’s a hurricane. She can be found on LinkedIn.

This newsletter was edited by Bobby Cherry, a Pittsburgh-based freelance journalist and senior editor at Inside, who also curates Inside Pittsburgh. Reach him at bobby@inside.com.

Copyright © 2020 Inside.com, All rights reserved.

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