Partnerships Becoming The Norm In Challenged Retail Sector

Partnerships are growing in popularity in the challenged retail sector, with retailers joining forces aimed at growing sales and providing convenience options for consumers. For example, Wal-Mart’s online business announced a partnership with upscale apparel retailer Lord & Taylor for a new flagship store on Walmart.com in spring 2018.

“Our goal is to create a premium fashion destination on Walmart.com,” said Denise Incandela, head of fashion, Walmart U.S. eCommerce. “We see customers on our site searching for higher-end items, and we are expanding our business online to focus on adding specialized and premium shopping experiences, starting with fashion. We’re excited that Lord & Taylor is part of the team we’re working with as we continue to create a new Walmart.com.”

Jason Long, CEO of St. Louis-based Shift Marketing, said five years ago the chance Lord & Taylor would partner with Wal-Mart Stores was likely nil. But given the challenges in department stores with declining foot traffic and Wal-Mart’s all-out effort to grow its online business in the face of Amazon, the two unlikely partners have found some common ground.    MORE

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