Important Innovations

TUMI's Virtual Stores :    Retail Innovation                                          Source:  TUMI Virtual Store TUMI's Virtual Stores Global luxury brand TUMI, headquartered in South Plainfield, NJ, is launching a highly innovative, virtual store platform. to deliver an immersive, multichannel retail experience.  The virtual approach will roll out to customers in the Asia Pacific region and the Middle East.  The virtual store launch ties into the debut of TUMI's spring 2021 collection of bags, luggage, backpacks and other luxury travel items. TUMI defines itself as a leading international lifestyle, international travel and performance brand. Digital Retail  TUMI's virtual store is a look at the future of digital retail.  Using interactive touchpoints, customers will be able to explore products through 360 degree, 3D and AR (augmented reality) presentations. They can also share photos on social media through TUMI's Magic Mirror.  The technology even includes Insta

  Amazon Pharmacy:  Direct, Online Prescription Drug Services Source:  Stock image Starts This Week Amazon just announced another innovative business addition to its online retail portfolio.  It's opening a discount online pharmacy for prescription medications.  For Amazon Prime members, the drug will be delivered right to the customer's door, for free, within two days. Pharmacy Competition Amazon Pharmacy puts Amazon in direct competition with traditional pharmacies like CVS and Walgreens.  And the timing couldn't be better.  Many consumers are seeking to obtain their medicines online and avoid going into the pharmacy because of COVID.  Amazon says their new business line is designed to make it easy and convenient to order prescription medicines online.  The service is rolling out in the US this week. $300 Billion Market For Amazon, the stakes are big.  Prescription medicines are a $300 billion industry in the US.  Amazon has been quietly building its prescription business

Online Pet Retailer Chewys' Initial Public Offering Source:  AKA Source:  Chewys Combining Pet Products and Online Innovation Chewys, which is PetSmart's online retailer, just launched an Initial Public Offering that has resulted in a market cap of $14 billion.  Out of the box the share price was targeted at $22.00 but it soared 59% to $35.00  It's one of the top IPO's of 2019 on the NYSE Going to the Dogs and Cats and Loving It The online pet retail company is based in Dania Beach, FL.  It is the latest unprofitable technology company to enjoy an IPO surge this year.  Investors are clearly banking on Americans' increased spending on their pets - $73 billion last year - and the migration to doing the spending online.  The company says it is considering expanding overseas and also expanding inhouse brands including its pet pharmacy online.  In this case, you might say "going to the dogs" is a good place to be.