In addition to Wholesale Central’s product feed integration, the new version of Pinnacle Cart includes new quality templates, an eCommerce widget, and Intuit integration that syncs directly to the user’s PC or online QuickBooks account.

Wholesale Central accepts product data feeds from thousands of the web’s leading wholesaler suppliers, and makes those products available to buyers from one convenient search box on its home page. “Wholesale Central was the first to offer such product aggregating and sourcing tools for the wholesale industry,” remarked Scott Sumner, CEO of Wholesale Central’s parent company, Sumner Communications. “Nearly half million wholesale buyers use this free tool each month. The automated Pinnacle Cart integration will now make it effortless for wholesalers to submit their product data, and is expected to dramatically increase the number of products available through our product search tool.”

The continually growing number of quality wholesale sources in the Internet’s original wholesale directory secures over half a million unique visits to the site each month. Wholesalers who include their products in the Wholesale Power Search have an unparalleled opportunity to increase their exposure to an audience of active buyers. With continuing innovation and extensive product offerings in over 50 major merchandise categories including: Apparel, Fashion Accessories, Jewelry, General Merchandise and Novelties. Wholesale Central commands top organic search rankings in all the major search engines, solidifying its position atop of the wholesale buying and selling industry.

Scott Sumner, CEO of WholesaleCentral.com’s parent company, Sumner Communications, shared, “We did an exhaustive survey of eCommerce products, and chose to partner with Pinnacle Cart due to its state-of-the-art features, superior ease of use, and dedication to PCI compliance. We are very pleased to now be a part of their outstanding eCommerce platform.”

Wholesale Central is a product of Sumner Communications, Inc., publisher of monthly trade magazines, directories, and websites serving the wholesale merchandise buying and selling industry since 1988. The company’s mission is to maintain its position as the number one online and print resource for the general merchandise industry, and to facilitate sales of wholesale products such as apparel, jewelry and novelties, with independent retailers, drop shippers, closeout distributors, eCommerce retailers and online auction dealers.

Between March 5 and 16, retail employees and business owners began submitting two-minute videos sharing their retail stories, and highlighting anything from the positive impact they’ve had on shoppers, to how an initiative within the business has helped to generate new jobs and boost the economy. After careful review, the NRF announced on April 2 the 20 finalists chosen for a final round of judging. While this first lot of finalists were determined by prominent retail executives at NRF member companies, the final round of voting was issued to the public, and began April 3.

Contest finalists ranged from small business owners to vice presidents at national retail chains, and from wine shops to sporting goods retailers. The selection process continued through April, as the 20 finalists went head-to-head in a bracket style tournament, narrowed down each week from 20 to 10 to five, and then the top three. During NRF’s Washington Leadership Conference this month, the third place winner of $10,000, second place winner of $15,000, and first place winner of $25,000 will be announced. “The incredible stories we heard from small business owners and employees through this contest serve as a reminder that retail is at the heart of every community,” explains Shay. “While each of these finalists has their own story, they collectively demonstrate the opportunities in and power of retail, which supports 42 million U.S. jobs.”

Store based retailers even found better success through their associated online business, as seen in the combined web sales of brick and mortar retailers, growing about 14.4 percent to $37.45 billion last year, from $32.73 billion in 2010.  Catalogers posted the lowest growth rate among all Top 500 merchant types in 2011, growing web sales with 13.1 percent year over year, to $6.58 billion from $5.82 billion. Web only merchants have seen a collective sales increase year over year of 35.6 percent, from $46.55 billion in 2010 to $63.11 billion in 2011. While the results include Amazon.com, whose sales grew nearly 41 percent last year, ecommerce merchants still saw recognizable growth. This story is adapted from an article on InternetRetailer.com.

Among some of the notable trends is that store brands are more important than ever, with natural, organic, and eco-friendly products continuing to advance. But as MarketWatch points out, “At the same time, many Americans remain budget strapped, and it’s essential that pet marketers and retailers respond to this mindset, as well as to the expectations of less cost-conscious pet owners.” As a result, in this market environment, it’s no accident that along with pet specialty retailers, price focused dollar stores and wholesale clubs have been growing their pet business. The best way to win customers, other than prices, is to effectively relate by recognizing that pet owners are more like pet parents. “Pet parenting, and the ensconcement of pets as members of the family, is more than just a trend. It is a long term societal shift, favoring even greater spending in the pet market for years to come,” emphasizes MarketWatch and the U.S. Pet Market Outlook. This article is adapted from a piece by MarketWatch.com.

That average included strong results from well-known retailers like Target and Macy’s, which both had increases of 7.3 percent, and the Gap, which boosted sales by eight percent. Results did not include giants such as Walmart, or New Jersey based retailers like The Children’s Place, which do not report monthly sales. According to the Boston Globe, “Apparel stores blew through estimates, with their sales rising 8.5 percent, versus the 4.9 percent analysts had expected.” “The clothing industry has just taken off,” says Chris Christopher, U.S. economist for research firm, HIS Global Insight. “The unseasonably warm weather that started in February,” he notes, “helped spring clothing sales, after dismal sales of winter clothes in January.”

Many analysts believe there is more than higher temperatures at play when it comes to the reason behind the increase in spending, especially as many Americans have been claiming they’ll be saving their tax refunds and staying in because of gas prices. One of the top reasons for this increase in retail revenue could be the improving job market. However, Joel Bines, managing director of the retail practice of AlixPartners, thinks, “There’s a growing belief we reached bottom a while ago. Rather than confidence that things have turned the corner, it’s confidence that things are unlikely to get worse from here.” Whatever the reason, retailers have been rewarded.

Final Round of Judging on “This is Retail” Finalists

Between March 5 and March 16, retail employees and business owners began submitting two-minute videos sharing their retail story, highlighting anything from the positive impact they’ve had on shoppers to how an initiative within the business has helped to generate new jobs and boost the economy. After careful review, the NRF announced on April 2 the 20 finalists chosen for a final round of judging. While this first lot of finalists were determined by prominent retail executives at NRF member companies, the final round of voting has been issued to the public, beginning April 3. Public viewing and voting for the Top 20 can be done at retailmeansjobs.com/vote. Contest finalists range from small business owners to vice presidents at national retail chains, and from wine shops to sporting goods retailers.

The selection process will continue through April, as the 20 finalists go head-to-head in a bracket-style tournament, narrowed down each week from 20 to 10 to five, and then the top three. Those casting their vote can vote up to 10 times a day per matchup. During NRF’s Washington Leadership Conference in May, the third place winner of $10,000, second place winner of $15,000, and first place winner of $25,000 will be announced. “The incredible stories we heard from small business owners and employees through this contest serve as a reminder that retail is at the heart of every community,” explains Shay. “While each of these finalists has their own story, they collectively demonstrate the opportunities in and power of retail, which supports 42 million U.S. jobs.”

For more information visit www.retailmeansjobs.com/contest.
Check out our Industry Headlines for more NRF related news, studies and contests.

Brick and Mortars Investing in Web Presence

According to survey results, retailers, whether they are independents, big box stores or ecommerce operators, have to come to terms with online channels continueing to be a top consumer choice for researching, browsing and purchasing products. As the NRF reports, “For the first time in the survey’s 10 year history, retailers’ websites and online channels eclipsed physical stores as the top channel for marketers, 81 percent for brick and mortar vs. 86 percent online.” Whether or not you run a brick and mortar does not absolve you from needing an online presence, whether it be a B2C site, social networking, etc., in today’s shopping culture.

Retail executives say they will invest in programs that directly resonate with today’s shopper. Of the 247 retail executives surveyed, 85 percent (up from 83 percent in 2011) plan on increasing online sales, and 38 percent (up from 29 percent) plan on increasing their focus on mobile commerce. Aiming to grow customer interaction, 45 percent of companies are also actively developing widgets, gadgets or advanced links that can be incorporated with their social media pages, while 43 percent plan to do so over the next 18 months.

Other top priorities of 2012 as indicated by the survey include:

• Nine in 10 respondents will focus on leadership assessment, development and succession.

• Nearly six in 10 say new customer acquisition is the top strategic priority for 2012.

This article is from an original report on NRF.com.

Trendsetting Teens in the World of Retail

Teens are breaking trends all across the retail industry. For instance, while mom is typically seen as the decision maker when it comes to shopping for the household, today’s mothers are now seeking their teenagers’ advice, and allowing them to even make some of the buying decisions. Even Black Friday shoppers looked a little different this year, as young shoppers took over the metro area malls. Simply stated, retailers are beginning to see a loyal customer in today’s youth. Jessica Curtis, marketing manager for Clackamas, points out in a recent interview with OregonLive.com, “They are loyal. Very loyal. They shop here, find entertainment here, eat here. The mall is their approved home away from home.”

While market researchers have estimated that the average teenage female has $600 in her bank account and boys closer to $800, the chance that most of the money will go towards retail purchases is likely. They do not have expenses brought on by adulthood. They have also been given the freedom to make their own decisions. “This generation has grown up being asked their opinion as early as age six. Not just what they want for breakfast, but what they want to wear and what store they want to go to,” says Amy Henry, VP of Chicago based C+R Research. “This generation grew up with much more autonomy.”

This piece is adapted from an article on OregonLive.com

Tax Refunds Not for Retail Sales

Nearly four in 10 Americans expecting a tax refund will use some of the money to pay down debt, and 28.7 percent plan to use their “free cash” for everyday expenses. A few will throw caution to the wind and use their refund for a major purchase, such as a car or new television (12.3 percent) and vacation (11.3 percent). There is a positive takeaway, says NRF president and CEO, Matthew Shay, explaining, “Increased consumer savings proves extremely beneficial to shoppers and businesses in the long run, allowing future opportunities to invest in a large household item, or even take advantage of a well deserved family vacation.”

In fact, Americans are eager to get a jump on their savings, as 64.4 percent of them will have filed their taxes by the end of February; the highest percentage since 2006, the survey says. Only 14 percent say they will wait until the last minute. While retailers may not see the benefits of tax season, consumers do. Retailers may just have to wait for a rainy day before savings turns into spending.

Retailers need to be aware that while most de-shoppers (return fraud culprits) think they are doing nothing wrong, their crime is in fact more organized and deceptive than ever. They create diversions, ugly scenes, or spread their returns across branches to keep from being recognized as serial offenders. The NRF reports, “When asked if their company has ever changed its return policy to specifically address return fraud, nearly two-thirds (64 percent) said it had.” However, as The Economist reports, “Many return policies far exceed the minimum legal requirements, so there is room to be more strict.” For instance, in 2009, Marks & Spencer, a British retailer famed for its no-questions-asked refund policy, reduced the window for returns from 90 to 35 days. It also introduced dedicated returns desks, usually away from the shop floor. This makes shouters and screamers less likely to succeed, and helps with keeping a consistent policy across all its outlets.

In the U.S., some of the stricter return policy features retailers are adopting include specific windows of time in which the return can be made, detailed reshipping rules, store credit returns, and the need for identification and a receipt. A recent survey found that 2.89 percent of returns with a receipt are fraudulent, but those without a receipt have a higher chance of fraud, estimated around 14.2 percent. According to the NRF, “As a result, six in 10 retailers now require customers returning items without a receipt to show identification. Slightly more than 10 percent of retailers require customers making returns with a receipt to also show ID,” proving stores can protect themselves.

This article is adapted from an original piece by The Economist.