Welcome to The Week in Retail, a weekly round-up for marketers from Quad Insights that covers the latest must-know news surrounding the retail space.
Toys “R” Us to open second U.S. flagship location in Mall of America next week
On Monday, Toys “R” Us announced a second U.S. flagship location that will open in Minnesota’s Mall of America “just before Thanksgiving,” Toys “R” Us parent company WHP Global said in a statement. The new 11,000-square-foot location will sell toys and games — and, in 2024, will include new elements such as a Geoffrey’s Café (named after the store’s mascot Geoffrey the Giraffe) and an ice cream parlor, as well as interactive experiences and product demonstrations, per WHP Global.
The move is the next step in Toys “R” Us’ expansion plan in partnership with Go! Retail Group, first announced in September of this year — a plan that includes new locations and concepts, including smaller stores in airports and on cruise ships.
The retailer’s newest location follows the opening of its first 20,000-square-foot flagship location in New Jersey’s American Dream mall and more than 450 mini toy shops inside Macy’s stores nationwide.
Acquired by WHP Global after filing for bankruptcy in 2018, the toy retailer has been making a comeback, as Parija Kavilanz of CNN Business reports. “Toys ‘R’ Us has been on an expansion frenzy as it attempts to reintroduce the toy store company to more online-savvy Millennial and Gen Z shoppers,” Kavilanz writes.
Tiffany & Co releases new Pokémon capsule collection with artist Daniel Arsham
In partnership with contemporary artist Daniel Arsham, Tiffany & Co has created a capsule collection inspired by Pokémon — “a franchise beloved by millennials and Gen Z alike,” as Jordan Hart of Business Insider notes. The new nine-piece jewelry collection features six Pokémon and three different styles of jewelry, including pendants with one Pokémon each and another necklace with all six — all in oxidized sterling silver with diamond accents — as well as an 18-karat yellow gold Pikachu necklace accented with diamonds, HypeBeast’s Elaina Bernstein reports. The latter is sold in a Poké Ball in Tiffany’s signature blue.
Pieces in the collection range in price from $1,290 to $29,000 and will only be available on a limited basis, with drawings held for each type, which customers can enter starting Nov. 29. “Submitting an order doesn’t guarantee you’ll be approved to make the purchase,” Hart explains. “Customers will be notified on Dec. 1 on whether they’ve been approved to complete their order.”
Lowe’s debuts DIY-U to teach homeowners how to tackle basic home repair projects
Lowe’s has launched Home Repair Workshops in 100 stores nationwide to teach customers basic home repair and maintenance skills, per a company statement. Called DIY-U, these live, interactive workshops, led by Lowe’s associates, are hosted on Saturdays and Sundays and are designed to help homeowners “tackle common household projects with confidence and efficacy,” according to Lowe’s. Participating stores have workshop stations where brief, hands-on demonstrations take place throughout the day, with no registration required. Demos cover easy-to-tackle projects such as how to replace a faucet and fix drainage issues, as well as how to patch and repair drywall. DIY-U also includes interactive, online videos and how-to articles on Lowe’s website.
The move by Lowe’s is in response to the growing number of homeowners who are looking for ways to save money when it comes to home repairs, particularly millennials, per the retailer’s statement. As Trend Hunter’s Laura McQuarrie writes, “Lowe’s Home Repair Workshops tap into the growing DIY movement among millennial homeowners who prefer to do the work themselves.”
ICYMI: Meta partners with Amazon to enable shopping via Facebook, Instagram
A recent update by Meta is enabling Facebook and Instagram users to link their profiles to their personal Amazon accounts, making shopping with the online retailer via social media easier, CNBC’s Jonathan Vanian reports. Shoppers will now be able to buy goods by clicking on Amazon ads in their feeds, without leaving either platform. “By partnering with Amazon,” Vanian notes, “Meta can make it easier to allow shops to sell goods on Facebook and Instagram without creating custom storefronts on those apps.”
An opt-in experience, this new feature allows shoppers “to see real-time pricing, Prime eligibility, delivery estimates and product details on select Amazon product ads in Facebook and Instagram,” according to a Meta support page.
Thanks for reading. We’ll see you in December after the holiday.
If you’d like to catch up on prior installments of this column, start by heading to last week’s recap: “The Week in Retail: November 10, 2023 edition”