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Retail
The effects of COVID-19 on the US grocery business
US Consumers have certainly taken notice of the gravity of the situation and changed attitudes and behaviors accordingly. The first major increase in credit card spending (a 26% increase over the week prior) happened on February 27th, the day of US confirmed its first case of unknown transmission, driven by a 130% increase in Grocery and a 238% in Big Box spending. On March 1st Governor Ron Desantis declared a public health emergency in the...
Three Keys to Restaurant Profitability – A Guide for CFOs
Traditionally, the role of a Chief Financial Officer has been largely isolated to numbers. In today’s rapidly changing economic landscape, with restaurant sales slowing, a restaurant CFO’s purview has expanded to touch on everything from labor retention, vendor management, and pricing, to company culture, staffing, and customer behavior. In addition to budgets and reporting, restaurant CFOs are expected to be innovators and problem-solvers, making stra...
Can Traditional Retail Thrive with AI and Automation?
In the last fifty years, we’ve seen retail move from main street to the mall and from niche shops to superstores. There have been massive shifts and waves in the industry but until the early part of the last decade, the basic logistics have been the same: A customer in 1908, 1980, or 2008 wanted to buy something, traveled to the store, browsed the available inventory, paid for their purchase, and took it home. Even considering factors like special orders or l...
How Five Cutting Edge Brick and Mortar Retailers are Doing 21st Century Retail Right
Evergreen Trading recently sat down with Board of Advisory member Rich Last to get his perspective on retail. This article is the result of that conversation. Rich has enjoyed a 25-year career in digital retailing including his launch and leadership of the Digital Retailing degree program within the University of North Texas. Under his early leadership at JCPenney, the chain began selling merchandise via the Web in October 1994, becoming the first Departmen...
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