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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.

Retail 203
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Retail Pulse: Wayfair Opens Mall Store; Banana Republic Unveils Style Passport

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Online furniture retailers are stepping further into the world of physical retail with permanent brick-and-mortar stores. Wayfair , for instance, opened a store at the Natick Mall in suburban Boston, where consumers can experience products firsthand before making a purchase, after debuting a pop-up shop there last year.

Retail 109
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Gap Between In-Store, Online Shrinking

PYMNTS

As retailers improve their inventory and fulfillment options, the gap between in-store and online commerce appears to be shrinking, at least according to a new report. foot traffic to retail stores saw its largest drop, 9.9 percent, in May, according to RetailNext.

Online 100
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Caesars Puts Stake In Online Betting Co DraftKings

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Caesars Entertainment announced that it has reached an agreement to offer DraftKings , the leading sports-tech entertainment brand in the country, providing market access for its online gaming products. In New Jersey and Mississippi, DraftKings Sportsbook mobile and retail allows players to bet for major U.S. and Australia. .

Online 108
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Why A Chicago Startup Is Tying Its Future To Physical Retail

PYMNTS

Brick-and-mortar retail oftentimes gets a bad rap in 2018. Last year saw store closures spike 200 percent to 7,000 — the worst retail bloodletting since the dark days of the 2008 recession. The widely shared consensus is that this could all get quite a bit worse for physical retail before it gets better.

Chicago 102
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2019: The Year Of Retailer And Delivery App Collaborations

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This year, apps aimed to make it easier and more convenient for consumers to order their favorite foods and sundries, with restaurants and other retailers tapping into delivery. To help bring these options to more consumers, retailers and technology companies decided to join forces. and Chicago.

Retail 134
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Amazon Takes Territory In US And Beyond

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Oakland, San Jose, San Francisco, Detroit, Austin, Boston and Chicago. Township leaders are ecstatic, yet some fear the company could kill more jobs than it creates because of its threat to the retail sector. Mexico presently has a $50 limit on online purchases that can be imported duty-free, but talks are ongoing with the U.S.

San Diego 164