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Boston Fed Chief Rosengren Expects Jobless Rate To ‘Rise Dramatically’

PYMNTS

Boston Federal Reserve President Eric Rosengren said on Wednesday (April 1) that despite the best efforts of politicians and central bankers to contain COVID-19’s economic impacts, the U.S. He added that worker furloughs have also already begun, “particularly in the hotel, retail, travel and restaurant industries.

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Early Days: AI Shows Promise And Limitations For Retailers

PYMNTS

Start creating more customer data to feed the algorithm and then you too can join the artificial intelligence (AI) retail revolution. Retailers can engage with an “AI lite” strategy that produces lookalike customer data and a level of predictive analytics. But the present and future of AI in retail is much richer. Not so fast.

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Clienteling Gives Retailers COVID-19 Interaction Options

PYMNTS

Clienteling — the practice of assigning retail sales associates to high value customers — is having a moment. According to Boston Retail Partners , 63 percent of retail personnel can’t identify customers prior to checkout. For retailers, LiveConnect delivers an effective and meaningful way to engage with their customers.

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Why Health And Beauty Retailers Are Driving Digital Innovation

PYMNTS

Amid great technological change, health and beauty retailers are developing strategies to drive innovation. In some cases, retailers are using social media tools such as Instagram to post promotions and product tutorials — or interact openly with consumers about their offerings. More than six in 10 health and beauty firms — or 61.7

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Cannabis Startups Expected To Boost Warehouse Rents In Boston, L.A.

PYMNTS

Industrial rents in already-expensive cities like Los Angeles and Boston are expected to get a boost because of weed startups, according to Bloomberg Markets. In Denver, for example, rents rose 33 percent from the first quarter of 2014 through May 2017. Industrial rents in Seattle and Portland each rose 27 percent in the same period.

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Retail Personalization May Not Come Soon

PYMNTS

Retailers are scrambling to figure out the best ways to provide a more tailored and engaging experience. The study, which surveyed 500 retailers in North America and Canada, was conducted in November and December 2016. Welcome to the age of instant gratification.

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Federal Reserve’s Cunha on the State (and Timeframe) of Digital Dollars

PYMNTS

Earlier this month, as PYMNTS noted , the Federal Reserve said its Boston bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. The focus on wholesale payments may bring various retail use cases to reality — including stimulus and disbursement of government payments.

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