Inside Colgate Palmolive's digital shelf

Author

Stephen Babcock
February 28, 2023

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Now for today's news...

Colgate Palmolive executives recently offered an inside look at key areas of digital transformation for the 200-year-old consumer products company. Clean rooms, TikTok and the digital shelf are among the initiatives where data and analytics are transforming how the company's brands sell and market products.

Arts and crafts retailer Michaels is making a bid to quadruple the number of SKUs available through its ecommerce store. To help boost the assortment, it is adding space for third-party sellers. With a retail media network already in place, advertising opportunities are likely to follow.

Retailers are continuing to strike a balance between high inflation and the need to move out excess inventory, according to the 2023 BDO Retail CFO Outlook Survey. Supply chain challenges are continuing, too, as 82% of CFOs predict they will face at least some issues in this area, while 46% say that forecasting will be inaccurate. – Retail TouchPoints

In this week’s funding and M&A news, Amazon leads an investment round for a fresh food ecommerce company, Walmart sells an outdoor retailer to Dick’s, and Soylent has a new parent. Plus, Dealboard has details on new funding for ecommerce logistics, food delivery robots and brand insights.

Last year, Overstock completed the transition to a focus solely on home products. At the same time, it is making improvements to search and mobile, as well as the purchasing process for vendors. While revenue fell by more than 30% for the year, the company has maintained pre-tax profitability for 11 straight quarters. – PYMNTS

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