Today in Retail: LVMH Sees US, Asia Growth; Lowe’s Launches Media Network

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In today’s apical retail news, a luxury products conglomerate said beardown request for luxury products continues to thrust sales, portion retailers specified arsenic Michaels are looking to unfastened integer marketplaces to grow their lawsuit base. Also, Lowe’s is launching a retail media work with a assortment of advertizing services, and juncture apparel retailers inactive spot a request to person carnal locations.

Strong Luxury Demand Drives LVMH Sales

Luxury products radical LVMH Moët Hennessy Louis Vuitton saw its gross ascent 46% year-over-year successful the archetypal 9 months of 2021, including integrated maturation of 40% from January done September. The institution saw double-digit maturation successful some the U.S. and Asia implicit that clip frame, led by the manner and leather goods business.

Retailers Look to Digital Marketplaces to Expand Customer Base

Crafts retail concatenation Michaels is preparing to motorboat 2 antithetic integer marketplaces to pull some creators and consumers, taking a leafage from Etsy’s playbook arsenic the retailer continues to modulation its concern aft going backstage six months ago. The archetypal marketplace volition let third-party vendors to merchantability components, tools and trade materials; the 2nd volition beryllium a spot for creators to merchantability finished handmade goods, straight competing with Etsy’s flagship platform.

Lowe’s Launches Omnichannel Advertising Platform

National hardware concatenation Lowe’s is creating a retail media work that includes a assortment of omnichannel advertizing services to boost brands’ positions successful the location manner sector. Lowe’s One Roof Media Network volition see data-driven insights into lawsuit behaviour and home-based trends with a customized advertizing program.

Occasionwear Retailers Benefit from Needs of Buy Now, Get Now Consumers

Andy Solomon, president of women’s covering retailer Windsor, said he’s watched arsenic different retailers person succumbed to the integer tide and been forced to shutter immoderate oregon each their locations, if not their full business. But Windsor, helium said, is benefiting from the bargain now, get present (BNGN) user fixed its absorption connected occasionwear, starring to a doubling down connected brick-and-mortar locations.

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