GettyWalton’s Five and Dime was the predecessor to Wal-Mart. Wal-Mart has a long history of stealing ideas from competitors. In a recent interview, Wal-Mart Stores CEO Doug McMillon said the tradition is part of the retailer’s “DNA.” “I mean going all the way back to Wal-Mart founder Sam Walton, we had a part of our DNA that was interested in learning from others,” McMillon told PBS’ Charlie Rose. “Copying good ideas. Don’t be so proud that you can’t implement a good idea.” Source: Wal-Mart Founder: ‘Most Everything I’ve Done I’ve Copied From Someone Else’ | Business Insider India Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us

Every major retailer is investing heavily in e-commerce and many are closing physical stores as more and more consumers shop online. It might sound like a money-saving move to shift more business online. But due to shipping and packaging costs, as well as higher rates of returns, some retailers end up losing money online – xosts can run as high as 25% of sales for retailers that outsource their e-commerce operations. Source: Why Online Shopping Is A Nightmare For Retailers | Business Insider India Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us

There is a wave a foot in the start-up community with companies developing products that will make it easier for consumers to find the best price for an item. Consumers will even be able to check out where the product is available locally for the best price – all from just standing in front of a retail shelf and looking up the item on their mobile device. This creates a huge problem for retailers. It’s as if every store on the planet is located in the palm of a consumer’s hand. Source: How Start-Ups are Changing the Future of Retailers Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us

For nearly 10 years, social media has been in the spotlight and, at the same time, a thorn in the side of many companies. Retailers in particular are constantly reminded of social media’s influence. Instead of steeping themselves in expert tips and hacks, companies would be wise step back and remember what’s at the core of the social interaction: Social platforms are merely tools for achieving a higher goal, which is creating an engaged customer base of brand evangelists. Source: Fashioning a Memorable Retail Experience That People Will Share – Yahoo Finance Rights to all content (text, images, videos etc.) with post source. If you think these are wrongly attributed email us