How ABC Carpet & Home Is Keeping Its Retail Legacy Alive
July 20, 2023
Forbes
ABC Carpet & Home, a legacy luxury retailer in New York City, faced significant challenges during the pandemic due to its limited e-commerce capabilities. The company filed for bankruptcy in 2021 but was later acquired by 888 Capital Partners and has since focused on turning the business around. To adapt to changing consumer preferences, ABC launched a new website with a broad range of products and reduced the square footage of its physical store while maintaining its focus on rugs and enhancing furniture and decor offerings. The retailer also relies on its dedicated and loyal staff to uphold its renowned customer experience and plans to expand its online features and open more stores in the future.
Recent News
-
Brands Embrace AI to Revolutionize Customer Experience
In a bid to enhance customer interactions and reduce the drawbacks of live customer service, brands are turning to AI solutions, from chatbots to innovative food delivery robots. Home Chef, a meal-kit-delivery service, employs the virtual assistant Herb to streamline…
-
Tesla’s Growth Slowdown Sends Warning Signals to Electric Vehicle Industry
Morgan Stanley analyst Adam Jonas suggests that Tesla’s recent tempered growth expectations indicate potential challenges for the broader electric vehicle (EV) industry. Following Tesla’s disappointing third-quarter results and cautious earnings call, Jonas believes there’s a ripple effect across the EV…
-
Housing Market Faces Continued Affordability Crisis as Mortgage Rates Near 8%
The housing market in the United States is witnessing its most challenging phase in years, with mortgage rates inching toward 8% and prices soaring for three consecutive months. Data reveals that September experienced the lowest housing sales in 13 years….
-
Elon Musk’s X Plans New Paid Subscriptions Amid Reports of Declining Web Traffic
Elon Musk’s X is set to introduce two new subscription tiers despite reports of a significant decline in web traffic. The Tesla CEO shared on X that one tier would be lower cost with all features but no ad reduction,…