Categories Retail

Takeovers top the agenda of retailers vying for a digital makeover

American retailers appear to be caught up in an obsessive urge to expand their online capabilities, and most of the recent takeovers in the sector involved at least one online platform.

The latest to join the race is fashion specialty retailer Nordstrom, who has acquired digital retail start-ups BevyUp and MessageYes as part of its aggressive digital push.

Picture Courtesy: Wikimedia Commons

Being an early bird in e-commerce, Nordstrom always managed to stay ahead of its rivals. Its digital prowess got a boost in 2011 when it acquired shopping website HauteLook, and three years later with the takeover of Trunk Club.

BevyUp operates as a social networking app exclusively for retail, where shoppers can interact with each other while browsing merchandise online and sharing information.

The other company, MessageYes, provides brands the facility to send text messages to customers with the help of artificial intelligence and integrated payments.

Nordstrom acquired start-ups BevyUp and MessageYes as part of its aggressive digital push

Among Nordstrom’s peers, Kohl’s recently launched its revamped online platform with all the Kohl’s apps integrated into it. The company also announced plans to join hands with Amazon for an e-tail initiative.

Announcing its latest quarterly earnings, omnichannel retailer Target Corp. recently said its e-commerce sales grew about 30% in the fourth quarter.

Amidst all the hectic activity, e-tailing pioneer Amazon went one step further and strengthened its Smart Home portfolio by adding home security startups Ring and Blink, both specialized in internet-connected doorbells.

The latest to join Walmart’s innovation lab Store No. 8 is VR startup Spatialand, which once integrated into Walmart’s fold will work in stealth mode. The deal, the latest among a series of takeovers by the company, is part of the retail giant’s initiatives to expand its VR capabilities.

Most Popular

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,


Add Comment
Viewing Highlight