“As the metaverse quickly evolves, we’ve already seen these types of technologies take hold within different industries,” said Chris Johnson, a partner in Bain’s Technology practice. “A good example of this is immersive gaming platforms, which are already boasting hundreds of millions of monthly active users.

“And while it’s not immediately clear how the metaverse landscape will shift, our research shows there are five competitive battlegrounds that executives should be considering if they wish to get ahead and eventually scale. This is an ongoing journey toward more immersive and collaborative experiences, enabled by rapid improvements in the underlying technology.”

As reported in VMSD magazine’s 2023 forecast issue, several retailers (including Forever 21, and, according to other published reports, such chains as Nike, Charlotte Tilbury and Dior) have been dipping their toes in the metaverse to explore how such technology can be a part of their omnichannel selling efforts.

Click here for more on the Bain & Co. report.

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In the LA heist, a group of at least nine men could be seen in a video posted on X sprinting out of the Gucci’s – which is located within the shopping complex’s Bloomingdale’s store – around 3:10 p.m. Monday. The thieves, who were wearing hoodies, are shown sprinting out of the Gucci store and through the Bloomingdale’s’ doors with merchandise overflowing in their arms.

The Gucci thefts reflect a wider wave of organized crime that retailers have been struggling to deter in recent years.

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The companies have signed a non-binding letter of intent, according to a press release. Financial terms of the deal were not disclosed.

“This acquisition will solidify our position as a leader in the Lab-Grown diamond industry based on our capabilities to vertically integrate, produce and market Lab-Grown Diamonds,” said Adamas One CEO Jay Grdina. “Our goal has been to complete our ecosystem and become as self-sufficient as possible, and the acquisition of Flawless, one of the top diamond cut and polishers in the industry, completes our ability to control our end-to-end production, speed of production and time-to-marketing. This transaction represents a significant step in the execution of our strategy to ensure that we are well positioned in the market, with minimal to no shareholder dilution.”

The letter of intent “is subject to customary due diligence and confirmations within industry standards and final approval by board of directors of the Company,” according to the release.

Adamas One produces single-crystal diamonds for gemstone and industrial applications in its facilities in Greenville, SC.

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“For the first time in a long time, consumers are saying that their current situations and their expectations for the future are very optimistic,” Peterson said. “For most of this year, consumers were saying right now is okay, but we’re worried about the future; we think a recession is coming.”

Peterson sees three major areas of concern. The first relates to the aggressive interest rate hikes made by the Federal Reserve over roughly the past year and a half.

Second, pandemic-era savings that are already being depleted are likely to be exhausted during the upcoming fall.

Third is the restart of student loan payments, which will cut spending. Loan payments will be due in October, according to the U.S. Department of Education following a three-year pause. It is estimated around 40 million Americans have debt from their education totaling nearly $1.8 trillion, and the typical monthly bill is $350.

“Certainly, for the second half of the year, we’re going to see slower consumer spending,” Peterson said.

Click here for more from the CNBC report.

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Created in partnership with market research firm Statista, the list derives primarily from surveys of more than 60,000 workers at companies with at least 1000 employees. Those surveyed included about 40,000 women, who were asked to rate their company in areas such as working environment, salary and employee diversity, and then whether they would recommend their company to a friend or family member. Their answers were also compared to those of 20,000 men to assess any significant differences in workplace perception.

Women were also asked to rate their employer based on factors such as pay equity, parental-leave policies, leadership training programs for women, representation of women in upper management, and employer response to incidents of discrimination. Further research was conducted into each company’s presence of women in executive management or board positions.

All these categories were evaluated and combined to create a final score for each business. The 400 companies with the highest scores made the list.

The top five highest-ranking retailers, and their overall position on the list, are:

7. Costco Wholesale (Issaquah, Wash.)
8. H-E-B Grocery Co. (San Antonio)
9. Trader Joe’s (Monrovia, Calif.)

40. IKEA (Conshohocken, Pa.-U.S. headquarters)

89. Barnes & Noble (New York)
90. Wegmans Food Markets (Rochester, N.Y.)

Other retailers of note, and their overall ranks, include ALDI (115), Kwik Trip/Kwik Star (165), Sephora (208), Tractor Supply (239), Best Buy (285), Nordstrom (308), Target (311), Dick’s Sporting Goods (345), Neiman Marcus (359) and Whole Foods Market (386).

Click here for complete survey results.

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It happened at the World’s Largest Jewelry Exchange in the Diamond District, the New York Post reports. Things got so wild that one of the scrappers’ pants fell down twice.

Several men were involved in the ruckus, according to reports. No injuries were reported among sellers or customers. Watch video of the brawl here.

The melee went on for several minutes before police and security managed to break it up, said one witness, who owns a business at the marketplace.

The New York Police Department told the Post that it did not have a complaint report in connection with the brawl.

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Such high-profile retailers as Walmart, Target, Lowe’s, Kroger, Macy’s and CVS and are teaming with technology companies to develop and deploy next-generation video surveillance systems, facial-recognition cameras, license-plate and vehicle readers, autonomous security robots, radio-frequency identification (RFID) tags, smart case locks and predictive analytic software.

While much of that tech has been around for years, it’s now being superpowered by AI, the cable news channel reports.

For retailers and loss-prevention experts, the primary goal of these technologies isn’t necessarily to catch thieves in the act, but rather to make committing their crimes less appealing — turning them away before they ever reach the door.

“The first thing we look at is, can we detect these people and identify them before there are victims?” said Read Hayes, director of the Loss Prevention Research Council, a think tank comprising researchers, retailers, technology companies, manufacturers and law enforcement professionals told CNBC. “We’re trying to get the offender or crew to say, ‘Not here, not now, this doesn’t feel right.’”

Click here for the complete CNBC story.

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The items would have had a combined manufacturer’s suggested retail price of $795,175 if genuine, according to a press release from the agency.

The first shipment was arriving from Thailand. CBP officers found 565 pieces of jewelry, handbags and other apparel displaying the logos of Louis Vuitton, Chanel, Gucci, Burberry, Prada and Van Cleef & Arpels. The items were heading to a residence in Ohio.

The second shipment CBP seized Friday night was also arriving from Thailand and was heading to a residence in Dallas. CBP officers found counterfeit jewelry, handbags, watches, caps and socks displaying the logos of Tiffany and Co., Rolex, Yves St. Laurent, Hermes, Gucci, Louis Vuitton, Chanel, Versace and Dior.

Both shipments were seized for infringing on the designer’s protected trademarks, according to the release.

More from the release:

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The number of impulse purchases per month also saw a dip this year, with the average respondent making just six impulse purchases per month. That’s down from 12 purchases per month both in 2022 and 2021 and nine per month in 2020.

Respondents are also spending less overall on impulse purchases. The average person is only spending $151 impulsively per month, down from previous years ($314 in 2022, $276 in 2021 and $183 in 2020).

Seventy-seven percent have been conscientious about their budget this year because of inflation — 39 percent said they spend more impulsively on necessities than luxuries (19 percent). The most common impulse shopping categories this year are clothing (55 percent), food and groceries (50 percent) and household items (42 percent).

Roughly a third (35 percent) said some of their impulse buys were done to escape the feeling of FOMO, a steep decrease from 2022, where 67 percent made purchases to be part of the “in” crowd.

“With shoppers stating that they are more likely to make impulse purchases on necessities than luxuries, while simultaneously reporting a decrease in impulse spending, we may be seeing a shift in how consumers define an impulse purchase,” said Vitaly Pecharsky, head of deals for Slickdeals. “Shopping opportunistically when there’s a sale on something you need like toilet paper or pantry snacks can ultimately save you money in the long run.”

Click here for more from the survey.

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The updated Tiffany has 9500 square feet over two floors, “with gentle curving details and soft colors that create a warm and refined environment,” the store description on the company’s website says. “Artworks are featured alongside the House’s iconic collections, as well as a new diamond vitrine design concept that immerses visitors in the refined world of Tiffany & Co.”

The first floor showcases such collections as Tiffany T, Tiffany Hardwear and Tiffany Lock. It also includes a space dedicated to the Elsa Peretti collections, paying homage to the designer who joined Tiffany & Co. in 1974 and created a series of organic and sensual designs. Her aesthetic is echoed in the design of the space as well, including furnishings in a cork material based on her famed Bean design.

On the second floor, clients can discover Tiffany’s iconic Love & Engagement collection, including the Tiffany Setting that founder Charles Lewis Tiffany introduced in 1886. (This six-prong setting lifts the diamond, pioneering the modern engagement ring.) A selection of Tiffany High Jewelry creations is also showcased in a space that honors the creativity of designer Jean Schlumberger, who joined Tiffany in 1956 and is perhaps best known for his Bird on a Rock brooch. A private salon on the second floor has been redesigned as a luxurious living room.

In addition to the redo of the Ginza store, Tiffany will open a new store in Tokyo’s Omotesandō luxury shopping district in early September. Tiffany is a unit of luxury powerhouse LVMH (Paris).

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