INDUSTRY INSIGHTS YOUR PEERS ARE READING
Is the store register on its way out in favor of other retail and payments innovation? In case you didn’t hear, Target faced a register outage that lasted for about 90 minutes on Sunday (June 16), which meant the retail chain couldn’t process cards or other forms of payment. MORE
It’s not enough to just be a retailer these days, it seems. The retail chain reportedly has been in discussions with Triad Retail Media , the retail advertiser owned by WPP PLC, to acquire it. Retail Amazon ecommerce Editors' Picks Google News online advertising Targe MORE
Perhaps at this point it might be better to ask which retailers, if any, are not shuttering stores. For now, as tariffs go, so will retail — and the clouds are still gathering. The data came this week from Coresight Research that store closures across the U.S. MORE
In such scenarios, the convenience offered by eCommerce sites falls short while on-the-ground retail wins the day. Big-box grocery and convenience retailers that tend to experience high-traffic, for instance, stand to benefit from adding automated solutions at their stores. MORE
That, in turn, reportedly provides another opportunity for the emerging and growing legal cannabis retail sector. Yet the growth of the legal cannabis retail industry demonstrates that many consumers will, or might soon, shift their intoxication methods. MORE
Out of the haze of uncertainty emerged a new mobile network, and from the new mobile network came new retail applications and experiences, all taking advantage of the faster speed of the technology, and the potential to reduce friction. 5G Retail Deal. VR Retail Growth. MORE
Recent developments call for a fresh look at the progress being made, and what’s in store, possibly, for predictive ordering capabilities when it comes to retail. Predictive retail – or what is sometimes called anticipatory shipping – depends on fulfillment prowess , of course. MORE
No, that doesn’t mean that PYMNTS takes sides in the struggle for retail supremacy, but only that we like to note when someone or some organization mounts a challenge to the eCommerce and logistical behemoth. High-End Retail. The battle for Amazon retail supremacy also involves pets. MORE
Online retail has had a tremendous impact on logistics, further evidence of which emerged on Monday (June 3). and other retailers to fulfill orders from online shoppers.” eCommerce Amazon delivery ecommerce Editors' Picks fulfillment logistics News Retail robotics Shipping warehouses MORE
The world of unattended retail has come a very long way in a very short time. Less than a decade ago, the unattended retail space was more or less defined by vending machines. Until very recently, unattended retail really wasn’t an innovation-focused space. MORE
By 2023, manufacturers and retailers will have to donate, reuse or recycle the goods” under a program that the French prime minister called the first of its kind from any national government. eCommerce Amazon ecommerce liquidation News overstock ReCommerce Retail waste MORE
convAs retailers look to cut transactional costs, one startup is trying to solve that problem with direct payments from customers' bank accounts. PayWithMyBank is working with retailers to help them accept ACH payments from customers. MORE
Retail is getting more visual, and that stands to be the case for locally-focused merchants as they compete for attention and consumer dollars with the likes of Amazon and Walmart. Indeed, augmented reality is among the tools that local retailers look ready to adopt for further use. MORE
Look to China, and look some more — that’s one of the main messages in mid-2019 for luxury retailers, at least for ones not based in the U.S. Luxury retail is a hot space in China. Retail china ecommerce Editors' Picks Farfetch Louis Vuitton Luxury News trade war MORE
Through an Alibaba Group Holding Ltd program that offers years of shopping history for consumers, Bestore Co Ltd intends to connect technology for facial recognition with the online retailer’s account data. MORE
This year is proving to be another tough one for brick-and-mortar stores, with Dressbarn , CVS , Party City and Pier 1 Imports being just a few of the retailers announcing closures. retailers so far this year, compared to the 5,524 store closures for all of 2018. MORE
But not all labor market strength is distributed equally – and the retail segment continues to lag. In March, it was reported that retailers announced plans to cut 4,860 jobs, bringing its first-quarter retail segment losses to 46,061. MORE
Radio-frequency identification (RFID) technology is carrying more weight in retail these days, helping merchants to innovate and win over consumers, and even serving to tie together web, mobile and in-store experiences as part of the focus on omnichannel commerce. MORE
With results that implied a pickup in consumer spending, retail sales in the U.S. Retail sales increased by 0.5 April’s data was also revised to indicate that retail sales were gaining 0.3 percent for retail sales in May. Retail sales advanced 0.5 MORE
A number of retailers have recently seen a surge in eCommerce sales. Now, it’s easier in some ways to be a late mover,” in retailing online, Sucharita Kodali, a retail analyst at Forrester Research, said in an interview, according to CNBC. MORE
Marcus by Goldman Sachs, Goldman's digital-only retail bank, is quickly becoming a full-service financial platform -- a threat to both challenger banks and traditional incumbent players. Daily Post 1 Daily Post 3 Exclusive Premium Retail Banking banking challenger banks Goldman Sachs Marcus MORE
San Francisco became the latest municipality to ban cashless retail as vulnerable populations demand equal access to shopping and dining service MORE
Kiosks are increasingly becoming part of the retail landscape. Byrne said the kiosk business is in the process of evolving from what he termed “the old world of soda cans and snacks … and is now becoming an integral part of a seamless omnichannel retail experience for consumers.”. MORE
One example in retail and payments is tech incubators — specifically, those run by specific companies and brands, a trend that shows signs of growing even more in the 2020s (which, let us remind you, are only a few months away). MORE
Single consumers are a force of nature as well when it comes to retail. Single people, often neglected by many retailers – at least based on complaints and stereotypes found online – seem to be getting fresh attention in this era of online and mobile shopping, and shopping clubs. MORE
From CVS to T-Mobile , retailers and technology providers are catering to the trend of contactless payment acceptance with new solutions and methods of handling cards from customers. Through the arrangement, retailers would accept Alipay for transactions at U.K. MORE
The world of mobile payments has changed significantly over the past decade – and particularly over the past few years as smartphones and other mobile devices have become ubiquitous. In this report, we will review some of the main themes and trends in the mobile payments market MORE
Square has two new offerings: the revamped Square Online Store and Square For Retail, introduced in an announcement by the company on Wednesday (March 20). Point-of-sale (POS) app Square for Retail has been optimized for and redesigned with retailers in mind. MORE
Retail sales in the U.S. Retail sales were down 0.2 Retail sales represent about one-third of consumer spending, which itself represent about two-thirds of the U.S. Internet retailers and pharmacies also took a 0.2 Economy economy News Retail Retail sales U.S. MORE
For the second consecutive year, Navy Federal Credit Union and USAA topped Forrester’s Customer Experience Index across industries, ahead of retailers like Lexus, QVC, Zappos and Amazon. MORE
Retailers and restaurants are reconsidering their payment policies as cities and states continue to push for legislation that would require merchants to accept cash MORE
However, in the 2019 Retail Banking Report, a study by Reputation.com that analyzed online data relating to retail banking locations for 23 major U.S. At a high level, retail banking didn’t score as well as other industries with a 341, 174 points lower than retail’s 515. MORE
To learn more about their customers and increase foot traffic, retailers are testing out new business ideas. In some cases, retailers are dedicating small spaces to brands inside their brick-and-mortar stores. The vast majority of retailers believe in trying new business approaches. MORE
Death, taxes and data breaches – those are perhaps the only sure things in life, and new evidence is emerging that hackers are finding increasing profit in targeting online retailers. That’s hardly the only recent hack involving online retail activity, nor the only form of such criminality. MORE
Retailers put together window displays and signs to create enticing storefronts, engage customers via social media and send printed ads through the mail. Unattended retail hardware and software can achieve more for merchants than simply vending products in a self-serve manner, Ning said. MORE
According to Will Byrne, CEO of Worldnet Payments , the kiosks and smart shelves that are gaining traction across any number of commerce and retail settings may even shift the employment picture a bit. Along the way, retailers are leveraging, and will continue to leverage, the latest payments technology developments to maximize revenue, while maintaining security of the transactions themselves. The Changing Retail Footprint. MORE
Before consumers started to trade brick-and-mortar shopping experiences for eCommerce websites, retailers could bring customers through their doors with window displays. According to the PYMNTS Virtual Reality In Retail Report , there are expected to be 100 million AR/VR headset users by 2022. MORE
Writ large, the unattended retail model can be thought of, too, as an unattended payments model, where everything revolves around an authenticated user wielding a registered payment credential — two components that, once in place, can truly take advantage of an omnichannel experience. MORE
Retailers have been testing out shelf-scanning robots to find out if they can handle restocking a store’s inventory when needed. “We’re Frederic McCoy, a senior vice president at Jabil Retail, a unit of Jabil Inc., MORE
Probably every shopper knows the thrill of the retail treasure hunt — that odd, unexpected, but perfect product discovered on a shelf; that highly desired item almost hidden in some corner, but found via serendipity or determined effort. MORE
To help meet customer expectations in the digital age, retailers have to know who their shoppers are and what they want. While eTailers already have this information about consumers, brick-and-mortar retailers don’t have this in-depth knowledge. MORE
households, retailers that enable digital payments while dropping cash are less than convenient. The latest Unattended Retail Tracker examines these and other ways that self-serve models are changing and expanding around the globe. A round the Unattended Retail World. MORE
Some retail outlets are experimenting with moving to digital payment-only operations. As non-cash payments become the norm, some retailers, particularly in hospitality, no longer accept cash. While there are downsides to managing cash, what are the pitfalls of refusing to deal with it MORE
The general experience can apply to retail goods, including groceries. After all, the principle is the same, no matter the retail sector: using a digital platform that crowdsources from big commerce ecosystems to provide more efficient deliveries of goods. Retail Benefits. MORE
Retail Related Topics PYMNTS
JUNE 14, 2019
A number of retailers have recently seen a surge in eCommerce sales. Now, it’s easier in some ways to be a late mover,” in retailing online, Sucharita Kodali, a retail analyst at Forrester Research, said in an interview, according to CNBC.
PYMNTS
MAY 29, 2019
This year is proving to be another tough one for brick-and-mortar stores, with Dressbarn , CVS , Party City and Pier 1 Imports being just a few of the retailers announcing closures. retailers so far this year, compared to the 5,524 store closures for all of 2018.
PYMNTS
APRIL 16, 2019
Retailers put together window displays and signs to create enticing storefronts, engage customers via social media and send printed ads through the mail. Unattended retail hardware and software can achieve more for merchants than simply vending products in a self-serve manner, Ning said.
PYMNTS
MAY 15, 2019
Retail sales in the U.S. Retail sales were down 0.2 Retail sales represent about one-third of consumer spending, which itself represent about two-thirds of the U.S. Internet retailers and pharmacies also took a 0.2 Economy economy News Retail Retail sales U.S.
PYMNTS
JUNE 20, 2019
No, that doesn’t mean that PYMNTS takes sides in the struggle for retail supremacy, but only that we like to note when someone or some organization mounts a challenge to the eCommerce and logistical behemoth. High-End Retail. The battle for Amazon retail supremacy also involves pets.
PYMNTS
MAY 8, 2019
The world of unattended retail has come a very long way in a very short time. Less than a decade ago, the unattended retail space was more or less defined by vending machines. Until very recently, unattended retail really wasn’t an innovation-focused space.
PYMNTS
MAY 16, 2019
Death, taxes and data breaches – those are perhaps the only sure things in life, and new evidence is emerging that hackers are finding increasing profit in targeting online retailers. That’s hardly the only recent hack involving online retail activity, nor the only form of such criminality.
PYMNTS
JUNE 6, 2019
By 2023, manufacturers and retailers will have to donate, reuse or recycle the goods” under a program that the French prime minister called the first of its kind from any national government. eCommerce Amazon ecommerce liquidation News overstock ReCommerce Retail waste
PYMNTS
MARCH 1, 2019
The general experience can apply to retail goods, including groceries. After all, the principle is the same, no matter the retail sector: using a digital platform that crowdsources from big commerce ecosystems to provide more efficient deliveries of goods. Retail Benefits.
Bank Innovation
JUNE 20, 2019
For the second consecutive year, Navy Federal Credit Union and USAA topped Forrester’s Customer Experience Index across industries, ahead of retailers like Lexus, QVC, Zappos and Amazon.
PYMNTS
JUNE 14, 2019
However, in the 2019 Retail Banking Report, a study by Reputation.com that analyzed online data relating to retail banking locations for 23 major U.S. At a high level, retail banking didn’t score as well as other industries with a 341, 174 points lower than retail’s 515.
Bank Innovation
MAY 31, 2019
Marcus by Goldman Sachs, Goldman's digital-only retail bank, is quickly becoming a full-service financial platform -- a threat to both challenger banks and traditional incumbent players. Daily Post 1 Daily Post 3 Exclusive Premium Retail Banking banking challenger banks Goldman Sachs Marcus
PYMNTS
JUNE 12, 2019
One example in retail and payments is tech incubators — specifically, those run by specific companies and brands, a trend that shows signs of growing even more in the 2020s (which, let us remind you, are only a few months away).
Mobile Payments Today
MAY 2, 2019
Retailers and restaurants are reconsidering their payment policies as cities and states continue to push for legislation that would require merchants to accept cash
PYMNTS
APRIL 8, 2019
But not all labor market strength is distributed equally – and the retail segment continues to lag. In March, it was reported that retailers announced plans to cut 4,860 jobs, bringing its first-quarter retail segment losses to 46,061.
PYMNTS
APRIL 5, 2019
Probably every shopper knows the thrill of the retail treasure hunt — that odd, unexpected, but perfect product discovered on a shelf; that highly desired item almost hidden in some corner, but found via serendipity or determined effort.
Mobile Payments Today
MAY 9, 2019
San Francisco became the latest municipality to ban cashless retail as vulnerable populations demand equal access to shopping and dining service
PYMNTS
JUNE 17, 2019
Is the store register on its way out in favor of other retail and payments innovation? In case you didn’t hear, Target faced a register outage that lasted for about 90 minutes on Sunday (June 16), which meant the retail chain couldn’t process cards or other forms of payment.
PYMNTS
MAY 31, 2019
Perhaps at this point it might be better to ask which retailers, if any, are not shuttering stores. For now, as tariffs go, so will retail — and the clouds are still gathering. The data came this week from Coresight Research that store closures across the U.S.
PYMNTS
APRIL 4, 2019
Out of the haze of uncertainty emerged a new mobile network, and from the new mobile network came new retail applications and experiences, all taking advantage of the faster speed of the technology, and the potential to reduce friction. 5G Retail Deal. VR Retail Growth.
PYMNTS
JUNE 14, 2019
With results that implied a pickup in consumer spending, retail sales in the U.S. Retail sales increased by 0.5 April’s data was also revised to indicate that retail sales were gaining 0.3 percent for retail sales in May. Retail sales advanced 0.5
PYMNTS
JUNE 3, 2019
Online retail has had a tremendous impact on logistics, further evidence of which emerged on Monday (June 3). and other retailers to fulfill orders from online shoppers.” eCommerce Amazon delivery ecommerce Editors' Picks fulfillment logistics News Retail robotics Shipping warehouses
PYMNTS
JUNE 14, 2019
Radio-frequency identification (RFID) technology is carrying more weight in retail these days, helping merchants to innovate and win over consumers, and even serving to tie together web, mobile and in-store experiences as part of the focus on omnichannel commerce.
PYMNTS
JUNE 13, 2019
Retail is getting more visual, and that stands to be the case for locally-focused merchants as they compete for attention and consumer dollars with the likes of Amazon and Walmart. Indeed, augmented reality is among the tools that local retailers look ready to adopt for further use.
PYMNTS
MARCH 6, 2019
Writ large, the unattended retail model can be thought of, too, as an unattended payments model, where everything revolves around an authenticated user wielding a registered payment credential — two components that, once in place, can truly take advantage of an omnichannel experience.
PYMNTS
JANUARY 24, 2019
Before consumers started to trade brick-and-mortar shopping experiences for eCommerce websites, retailers could bring customers through their doors with window displays. According to the PYMNTS Virtual Reality In Retail Report , there are expected to be 100 million AR/VR headset users by 2022.
Mobile Payments Today
OCTOBER 2, 2018
The world of mobile payments has changed significantly over the past decade – and particularly over the past few years as smartphones and other mobile devices have become ubiquitous. In this report, we will review some of the main themes and trends in the mobile payments market
PYMNTS
JUNE 6, 2019
Look to China, and look some more — that’s one of the main messages in mid-2019 for luxury retailers, at least for ones not based in the U.S. Luxury retail is a hot space in China. Retail china ecommerce Editors' Picks Farfetch Louis Vuitton Luxury News trade war
PYMNTS
JANUARY 28, 2019
Retailers have been testing out shelf-scanning robots to find out if they can handle restocking a store’s inventory when needed. “We’re Frederic McCoy, a senior vice president at Jabil Retail, a unit of Jabil Inc.,
PYMNTS
OCTOBER 18, 2018
To learn more about their customers and increase foot traffic, retailers are testing out new business ideas. In some cases, retailers are dedicating small spaces to brands inside their brick-and-mortar stores. The vast majority of retailers believe in trying new business approaches.
PYMNTS
MARCH 25, 2019
To help meet customer expectations in the digital age, retailers have to know who their shoppers are and what they want. While eTailers already have this information about consumers, brick-and-mortar retailers don’t have this in-depth knowledge.
PYMNTS
JUNE 7, 2019
Single consumers are a force of nature as well when it comes to retail. Single people, often neglected by many retailers – at least based on complaints and stereotypes found online – seem to be getting fresh attention in this era of online and mobile shopping, and shopping clubs.
PYMNTS
JUNE 20, 2019
Through an Alibaba Group Holding Ltd program that offers years of shopping history for consumers, Bestore Co Ltd intends to connect technology for facial recognition with the online retailer’s account data.
PYMNTS
MAY 20, 2019
Kiosks are increasingly becoming part of the retail landscape. Byrne said the kiosk business is in the process of evolving from what he termed “the old world of soda cans and snacks … and is now becoming an integral part of a seamless omnichannel retail experience for consumers.”.
PYMNTS
MARCH 22, 2019
In such scenarios, the convenience offered by eCommerce sites falls short while on-the-ground retail wins the day. Big-box grocery and convenience retailers that tend to experience high-traffic, for instance, stand to benefit from adding automated solutions at their stores.
PYMNTS
JUNE 5, 2019
It’s not enough to just be a retailer these days, it seems. The retail chain reportedly has been in discussions with Triad Retail Media , the retail advertiser owned by WPP PLC, to acquire it. Retail Amazon ecommerce Editors' Picks Google News online advertising Targe
Bank Innovation
JUNE 14, 2019
convAs retailers look to cut transactional costs, one startup is trying to solve that problem with direct payments from customers' bank accounts. PayWithMyBank is working with retailers to help them accept ACH payments from customers.
PYMNTS
MARCH 20, 2019
Square has two new offerings: the revamped Square Online Store and Square For Retail, introduced in an announcement by the company on Wednesday (March 20). Point-of-sale (POS) app Square for Retail has been optimized for and redesigned with retailers in mind.
Mobile Payments Today
JULY 31, 2018
Some retail outlets are experimenting with moving to digital payment-only operations. As non-cash payments become the norm, some retailers, particularly in hospitality, no longer accept cash. While there are downsides to managing cash, what are the pitfalls of refusing to deal with it
PYMNTS
APRIL 30, 2019
According to Will Byrne, CEO of Worldnet Payments , the kiosks and smart shelves that are gaining traction across any number of commerce and retail settings may even shift the employment picture a bit. Along the way, retailers are leveraging, and will continue to leverage, the latest payments technology developments to maximize revenue, while maintaining security of the transactions themselves. The Changing Retail Footprint.
PYMNTS
APRIL 10, 2019
From CVS to T-Mobile , retailers and technology providers are catering to the trend of contactless payment acceptance with new solutions and methods of handling cards from customers. Through the arrangement, retailers would accept Alipay for transactions at U.K.
PYMNTS
MAY 10, 2019
households, retailers that enable digital payments while dropping cash are less than convenient. The latest Unattended Retail Tracker examines these and other ways that self-serve models are changing and expanding around the globe. A round the Unattended Retail World.
PYMNTS
JUNE 7, 2019
That, in turn, reportedly provides another opportunity for the emerging and growing legal cannabis retail sector. Yet the growth of the legal cannabis retail industry demonstrates that many consumers will, or might soon, shift their intoxication methods.
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