Retail Roundup | October 2023
As a retail technology company obsessed with data, we at Tillerman are constantly looking at the trends and forecasts shaping the retail industry broadly. The start of 2022 continued to bring challenges with supply chain issues, inflation and of course Omicron having an impact, but there were bright spots as well. Heres a roundup of some of the retail stories that caught our eye this month.

October was a month filled with highs and lows in the retail world, from IPO excitement to tech innovations and bold strategies. October began with high anticipation as Birkenstock prepared to go public. The iconic footwear brand aimed for a valuation of $9.2 billion, seeking to raise over $1.5 billion through the IPO, but the journey proved challenging.

In anticipation of the Birkenstock IPO, Retail Dive published an insightful piece on how companies like Warby Parker and Allbirds fared after their IPOs. While they initially had strong starts, both have faced difficulties in the market since then, serving as cautionary tales for other potential IPO hopefuls.

Unfortunately, the Birkenstock IPO didn't live up to expectations, with Modern Retail reporting that overvaluation and soft market conditions played a significant role in its underperformance. This setback will likely serve as a lesson for companies like Skims and Shein, eyeing potential IPOs in the future.

On a more positive note, Steve Madden made a significant move in the industry by acquiring Almost Famous. We are always very proud to play a small part in the success of such an iconic brand!

In the tech sector, Walmart continued to lead with its AI and AR innovations aimed at enhancing the consumer experience. The retail giant also expressed optimism about its improved inventory management system as it gears up for the highly anticipated Holiday 2023 season.

Jellibeans made headlines by raising $1 million for its AI software, which claims to create ready-to-sell designs based on hundreds of inputs. While innovative, some in the industry remain skeptical of the software's capabilities.

Macy’s unveiled its strategy to focus on smaller store formats, which has yielded positive initial results. The retailer is adapting to changing consumer preferences, demonstrating its commitment to innovation. Macy's is also expanding its presence in the Metaverse with MStylelab, showing a forward-thinking approach to its future.

As October drew to a close, the National Retail Federation (NRF) predicted a successful Halloween shopping season, despite the current pullback in consumer discretionary spending. This outlook is a hopeful sign as we transition from fall to the much-anticipated Holiday 2023 season.

<< Return To News