Matt Pavich, senior director of strategy and retail innovation at Revionics, an Aptos Company, talks with Chain Store Age about pricing and promotion considerations for the next quarter.
The U.S. Census Bureau released its advanced monthly retail trade report for May 2023, which showed sales totaled $686.6 billion, up 0.3% from the previous month, and up 1.6% from May 2022.
Store formats are shrinking fast—from Express Edit, Market by Macy’s and Bloomingdale’s Bloomie’s concept, to diminutive offerings by the likes of Kohl’s, Ikea, Publix, Barnes & Noble and Sprouts.