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Report: Target’s future may be all about small stores

BY DSN STAFF

With 1,790 stores spread across the country and sales growth in each of the last two years at under 2%, the New York Post reports that the discounter is accelerating plans to roll out more petite, urban stores. (New York Post)

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UPDATE: Bennett to leave Lebhar-Friedman to join ECRM

BY DSN STAFF

NEW YORK — Lebhar-Friedman announced Wednesday that Drug Store News group publisher Wayne Bennett will leave the company to become SVP retail at ECRM, effective Aug. 2.

Bennett, who joined Drug Store News in 1995, advanced steadily through the organization from area sales manager to national sales manager to publisher, and most recently to group publisher, with responsibility for DSN print and digital media, as well as the consumer health websites HellaWella and HealthEventsLive. In his new role at ECRM, Bennett will lead business process initiatives between the retail industry and the supplier community.

DSN publisher Eric Savitch will assume full responsibility for all day-to-day business operations for the group, including DSN as well as the DSN CE platforms. DSN editor in chief Rob Eder will take on additional responsibilities for live events and will play an advanced role in new business development. Lebhar-Friedman president and retail group publisher John Kenlon will assume responsibility for the company's consumer-facing websites.

Acknowledging Bennett’s many accomplishments over the course of his 21-year career at the company, Kenlon said, “Wayne has been an instrumental part of the growth of the Drug Store News brand and we wish him continued success in his new endeavors.”

“Eric and Rob have 40 years of collective experience between them, and a genuine passion for the business," Kenlon added. “They want the industry to succeed—not just Drug Store News. Suppliers and retailers know they will do everything they can to help improve their businesses.”

“Bennett's business media background and expertise is perfectly aligned with ECRM's vision to extend its services and technology platforms to better support many aspects of the buying process,"said ECRM CEO Greg Farrar. “His knowledge of the retail industry and experience will extend our engagement with retail buyers and suppliers year-round.”

Added Bennett, “I am excited to be part of this great ECRM brand that serves the industry well. I'm looking forward to joining the effort in taking ECRM's assets and capabilities to the next level and better serve the industry now and into the future.”

 

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Survey: Back-to-school shoppers will spend more, but wisely

BY Dan Berthiaume
Parents making back-to-school purchases are willing to open their wallets, if the price is right.
 
That’s according to a new study from digital savings platform RetailMeNot Inc., "Back-to-School Cheat Sheet: Consumer Trends and Insights for Retailers," back-to-school shoppers plan to spend an average of $273 per child, up from their anticipated spending of $246 in 2015.
 
Nearly nine in 10 parents surveyed (86%) plan on shopping for back-to-school supplies this summer. More than two in five (42%) said that they plan to spend between $100 and $500 per student this fall. Another 12% plan to spend more than $500 on back-to-school merchandise for each child.
 
However, more than half (56%) of respondents look for back-to-school deals regularly. Nearly one-third (28%) of parents said that back-to-school shopping is a strain on their family's finances. Females are more likely than males to always seek a deal.
 
When evaluating a promotion, the most popular offer is a percentage off the total purchase (38%). Tax-free savings are especially popular among many consumers in the South. And deals are popular with shoppers regardless of their household income. Of those respondents who earned $150,000 or more a year, one in three say that they search for deals every time they shop. 
 
The majority of parents still prefer to head in-store, with more than half (56%) expecting to buy supplies mostly or completely in a physical store. There is good news for retailers hoping to catch online shoppers, as well. Thirty-two percent of consumers will shop equally online and in-store for back-to-school items. Fewer than one in 10 will shop mostly or completely online.
 
Back-to-school shopping habits vary, including how often and when shoppers make it to the stores. Most parents prefer to begin their shopping later in the season, with 50% preferring to start in August or September. However, nearly two in five (38%) parents will begin in June or July, the majority of those beginning in July. More than any other region, consumers in the South (where the new school year often starts in early August) tend to shop earlier, with 37% starting in July.
 
Looking at how respondents time their back-to-school purchases, 26% say they buy items as they go on sale, 24% do all of their shopping on one weekend, and 23% plan to shop several days or weeks throughout the summer. One in five say that they shop throughout the year, as do one in three respondents who plan to spend$1,000 or more.
 
Results are based on two separate surveys of Americans age 18 and older. The first survey was conducted among 1,011 respondents using Google Consumer Surveys between June 8 and 10, 2016. The second survey was conducted by Kelton Global between June 10 and 16, 2016, among 1,007 respondents.
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