In today’s top retail news, Neiman Marcus’ new strategy has some experts bullish about the brand’s prospects post-bankruptcy, while auction houses and art dealerships are figuring out how to deliver a seamless digital experience for consumers. Also, eCommerce platform Wish warns investors it may not rebound from a disappointing quarter until late this year, and YourMechanic introduces a new auto repair app.
Nearly a year after emerging from Chapter 11 bankruptcy, Neiman Marcus is reemerging with a new marketing campaign meant to reintroduce the brand to the world and chart a path forward for the beleaguered department store. Though it remains to be seen whether the company’s “Re-Introduce Yourself” campaign, announced earlier this week, will bring shoppers back to Neiman, some experts say they’re bullish on the brand’s prospects.
When it comes to buying antiques, art and collectible items from auction houses, the eCommerce experience isn’t exactly seamless, with consumers often required to perform one transaction for the item and another for shipping. “The collectible ecosystem is really one of the last frontiers to go digital,” Adam Fields, founder and CEO of logistics software company ARTA, told PYMNTS.
Wish Founder and CEO Piotr Szulczewski said his company is keenly aware of the reasons it turned in a quarterly performance that showed a 6 percent drop in revenue from the previous year, but it will likely take until the fourth quarter of the year to fully rebound. The eCommerce platform saw an overall year-to-year revenue dip to $656 million in the second quarter. Core marketplace revenue took the biggest hit, down 32 percent.
Mobile auto repair company YourMechanic has introduced a consumer app on iOS and Android, a move that allows car owners to order hundreds of auto repair and maintenance services and have them done wherever is most convenient for the users. YourMechanic, which deploys its mobile car service in 3,000 U.S. cities, launched the app in response to customer demand, noting repeat business represents about 40 percent of the company’s revenue.