Retail News: Top Stories
August 20, 2019
Top stories in retail news and the business headlines that interest us today.
Hasbro to Phase Out Plastic Packaging
“The toy company will start phasing out plastic from new packaging, including elastic bands and shrink wrap, starting next year, with a plan to eliminate virtually all plastic from packages for new products by the end of 2022.”
Target to Launch Grocery Brand
“Products from the new line Good & Gather will hit Target stores beginning Sept. 15. The retailer said that by the end of 2020, the brand will have more than 2,000 items — everything from organic pizza crusts, milk and eggs, hazelnut and peanut butter spreads, frozen veggies, salad mixes and pastas. Target said it expects Good & Gather will be a multibillion-dollar brand — and the largest of its private labels.”
Kohl’s and Facebook Team Up
“Kohl’s announced Tuesday that it will partner with Facebook. The social media company will help Kohl’s select clothing and homegoods’ brands to sell in some stores. Facebook, using what it knows about the interests of its users, will work with Kohl’s to identify trendy brands on Instagram and Facebook that have never before appeared in Kohl’s stores or on its website.”
IKEA Expanding Smart Home Offerings
“The company plans to invest in the new unit and expand its range of devices, which currently includes smart light bulbs, smart plugs, and other connected devices to automate home control. IKEA’s large retail base and low-cost smart home options could put the company in a position to establish a presence in the connected home market and supply a variety of devices consumers will actually use.”
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