Thrifting Through Retail Finds

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From thredUP to The RealReal , Tradesy and SnobSwap , every retail segment out there today seems to be looking for some sort of deal on discounted items, especially clothes. Retail news this weekend focused on the discount sector, though.

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Q12018’s Big Retail Chill

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The phrase is also a familiar refrain in retail — sung by retailers when disappointing results come at the same time as a streak of unusual and unseasonable (aka lousy) weather. In Q1 of 2018, the cooler than usual spring/summer contributed to retailers posting less than stellar sales. The specific issue this year, retailers say, is that the weather was essentially the one-two punch in early 2018 that knocked sales off its perch.

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Comcast’s Retail Ambitions

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Of course, in the past, these brick-and-mortar businesses weren’t really designed or conceived of as retail locations at all. Nor were they really located like retail locations, as anyone who has ever spent a half-hour navigating an industrial park looking for a Comcast location can gladly attest. But these days, Comcast realizes it wants to be where the people are — and wants to be part of that retail world. Retail Comcast News Shoptalk

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AI/BOT: Retail’s AI Survival

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Retail

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Changing Retail Is Changing Retail Workers

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As checkout processes become more automated and the point of sale moves to a mobile-first approach, the role of the retail clerk is also changing. Ringing up goods is giving way to customer service specialization and service offerings that digital retailers can’t match, according to a U.S. And while retail jobs are paying — and expanding in some cases — wages aren’t keeping pace with the new professional retail service staff.

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BingoBox’s Unattended Retail Revolution

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Amazon announced its plan to build a totally unattended retail store in early 2017, but there was something of a gap between the announcement of the company’s plan for a sensor-based, cashier-less shopping experience here in the United States and its actual rollout in late January of this year. Self-service retail is big in China and, unlike Amazon, BingoBox is far from the only player in the unattended retail game. The unattended retail revolution is warming up in the U.S.,

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Nike Abandons ‘Mediocre’ Retail

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Nike told investors that it would be shifting its approach to brick-and-mortar retail, according to news from The Wall Street Journal. Nike said during a presentation that it had ongoing plans to sell more of its goods online, a shift away from selling through sports apparel stores and traditional athletic wear retailers, according to t he WSJ. The sportswear market has become more competitive, and some traditional retailers have gone out of business.

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Cutting Clerks Is Cutting Into Retail Sales

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The brick-and-mortar store closures that have swept through retail in recent years have captured a lot of attention, but the purge of retail staff has actually been bigger and is often absent from the headlines, according to news from The Wall Street Journal. The pattern holds at almost every major retail outlet — Target , Kohl’s, Nordstrom and Walmart — whether they opened new locations or closed down shop, one way or another, they all saw their headcounts drop in recent years.

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How Affirm Wants To Push ‘Honest Financing’ Into Physical Retail

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Affirm InStore’s launch merchant is Simply Mac, an authorized retailer and repairer of Apple products with roughly 50 stores nationwide. And of course, it’s a win for retailers, who get to sell more goods to their customers.”. Giving Retailers Honest Credit Options .

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Retail Sales Shot Up In May

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Consumer confidence seems to have returned in a big way in May as retail sales soared to their highest level since November 2017, according to news from The Wall Street Journal. Excluding auto sales, which have a tendency to bounce up and down frequently month to month, retail spending was up.9 percent increase in retail sales, excluding auto, had been the prediction. Retail sales are up 5.9 Retail Commerce Consumer Spending economy News shopping What's Hot

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Retail’s Small Business Crisis

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have a retail crisis — or a small business crisis? Which is why “fixing” retail must include giving SMB merchants the tools they need to compete in the very dynamic environment that now defines Retail U.S.A. So, what does this all have to do with retail?

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Brick-And-Mortar Retailers Take On Omnichannel

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To meet consumers where they want to shop, retailers are taking an omnichannel approach to their offerings. And retailers are taking notice: Walmart , for example, recently introduced meal kits in its stores after selling them exclusively online. Walmart customers can buy them in the store or – in another omnichannel twist – through the retailer’s online grocery pickup service. Retailers, after all, have an average satisfaction score of 37.9

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Local Retailers, Surviving or Dying in Retail’s Evolution?

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At the basic level of retail industry chatter online, much of the focus is on the battle between brick-and-mortar versus eCommerce. While the closing of several big box and department stores alongside online shopping’s reshaping the retail shopping are certainly discussions worth having, it doesn’t encompass the entire retail spectrum. The issue that arises when focusing in on local retailers is how they’re faring against larger brand names and eCommerce.

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Will VR Save Retail?

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With a unique customer experience becoming ever more important in retail, virtual reality could play a significant part in those efforts. Retail AT&T experiential retail retail what's hot Samsung virtual reality virtual reality technology VR What's Hot

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The Buyers: Teen Retail Engagement

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It can be argued that some of the toughest buyers to keep in mind when planning out retail strategies are teenagers. While one day a teen may be into shopping strictly online, another day may see an offline preferred experience or a mixture of both, and retailers must be at the ready to transform engagement efforts at any given time. It turns out that retailers geared toward this younger demographic are having a tough time engaging them online.

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How Self-Service Retail Is Becoming Mainstream Retail

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And enabling in a variety of ways, she told Webster, because the changing payments technology in self-service retail is about more than making it easy to grab Cheez-Its on the go; it’s about making it easier to get everything. And now, with the advent of better payments — and an ability to turn those payments into an entire commerce relationship — they can take what they’ve been doing for a 100 years and do it bigger, broader and as a whole new way to think about physical retail.

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Retail Pulse: The Price Must Be Right

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It’s been a week of experimentation in retail, with many big names opening new types of stores to — as the saying goes — see what sticks. Brands like TJX , Macy’s , craft and fabric retailer Joann , and Walmart ’s ModCloth are trying on smaller-format, off-brand and off-price destinations with features and experiences tailored for the digital-first generation. It does seem, however, that a focus on affordability is a core driver of new retail strategies for brands.

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NEW DATA: Retail Kiosks — The Next Billion-Dollar Industry

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One might just call this the age of unattended retail. Increasingly, retailers and other merchants are looking to give customers a more convenient and efficient experience by offering products and services via unattended kiosks. According to research inside the Kiosk and Retail Report, a USA Technologies collaboration, by the time the next decade rolls around, the interactive kiosk industry market will be worth $1.073 billion.

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Unattended Retail Lessons From Caviar Dreams

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Those who travel to some of the wealthier parts of the world, however, will discover the well-to-do have much more expensive unattended retail tastes. But, Knight has also learned that not all payment methods work well for high-end products dispensed from unattended retail systems.

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Amazon Replacing Retail Vets With Software

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Amazon is replacing some of its retail veterans with software that predicts what shoppers want and how much merchants should charge for it. According to Bloomberg , the retail group that helped sign multimillion dollar deals with brands selling on Amazon is now being merged with the team that runs the marketplace, an automated platform that lets anyone price, market and sell their products on the site without having to interact with anyone.

The Sweet Side Of Self-Service Retail

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Retail bitcoin Franchisees Froyo Froyo Robot GenerationNEXT Franchise Brands ice cream News Reis and Irvy's ShoptalkAfter a winter that seemed on track to last forever, summer has arrived, and with a vengeance in some parts of the United States.

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Changing Physical Retail’s STORY

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Though the level of alarm one feels about the current state of physical retail in the United States can vary some, from mild concern to full-tilt fear of an oncoming apocalypse, there is no denying at this point that outside of a few continuously successful bright spots, brick-and-mortar retail is in a tough spot. And that Rachel Shechtman, owner and operator of Manhattan’s rotating retail store STORY notes, may well be because consumer experiences are built on and around variety.

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Predictive Analytics Are Retailers’ Crystal Ball

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Can predicting the future help retailers and other organizations avoid negative outcomes? Instead, retailers should be looking at which customers churned and why so that they can learn from their mistakes and leverage that information to prevent others from making the same choice. On a retail site, Sweary continued, the goal is for people to buy. But Sweary said retail customer churn is only the most dramatic use case for predictive analytics.

Unattended Retail Works Out At The Gym

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However, when it comes to retail in those spaces, it doesn’t always work out. Retail at the gym may look like a smart business move from the outside, but it often ends up eating more space and effort than it’s worth. Forgetting either of these items can really ruin a workout, while the ability to replace them quickly and easily can salvage it — and if there’s one constant in retail, it’s the fact that convenience is king. Enter unattended retail.

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The Buyers: Teen Retail Engagement

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It can be argued that some of the toughest buyers to keep in mind when planning out retail strategies are teenagers. While one day a teen may be into shopping strictly online, another day may see an offline preferred experience or a mixture of both, and retailers must be at the ready to transform engagement efforts at any given time. It turns out that retailers geared toward this younger demographic are having a tough time engaging them online.

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The Mainstream Retail Future Of AR/VR

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Retail is perhaps an unexpected entrant into the augmented reality (AR) and virtual reality (VR) market, but it’s proving to be an area in which being there virtually can be seamlessly substituted for being there actually. This week, the list of retailers capitalizing on this new technology grew by one very recognizable name: Airbnb announced it wants to help convince clients to book stays by giving them virtual access to residencies before they pack their bags.

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AI Bots Can Help Retailers Serve Customers

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Brands and retailers face a dilemma then: How do companies reach consumers through their phones? As a result, Kolacz is rolling out technology for brands and retailers to connect with customers through messaging platforms such as Facebook Messenger, WeChat , Viber and WhatsApp. The app seeks to boost brand and retail sales by providing a new sales channel with immersive experience and a visual product search.

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Retailers Get Creative With Shopping ‘Holidays’

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Retailers have gotten awfully creative with inventing their own “holidays” (or, really, just another excuse to shop). Wayfair Chief Merchandising Officer Steve Oblak told Chain Store Age , “We are looking to put a new retail holiday on the map that celebrates home. And Amazon extended the timeframe for Prime Day: The eCommerce retailer gave customers access to deals for 30 hours instead of the normal 24-hour window. Who will be the next retailer to create their own holiday?

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Disney’s Retail Reset

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That is the question the Walt Disney Company is looking to answer as it sets on its first major redesign of its retail spaces in a little under a decade, according to recent Reuters reports. The goal, it seems, is to lure shoppers away from the digital experiences that are depressing Disney’s retail foot traffic, Reuters noted. It bought the stores back in 2008 and now operates 340 retail store locations around the world. Can Disney build the happiest stores on Earth?

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Menswear On Wheels: Taylrd Takes Retail On The Road

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It’s time for retailers to stop looking at brick-and-mortar like it’s dying. Traditional retail is changing, it’s true – and that has manifested as a fair amount of growing pains – but the perception that physical retail is a sinking ship may be leading merchants astray. Perhaps it’s better to think of modern retail as a chrysalis. If you look at the numbers,” said Dwyer, “a massive amount of retail purchases are still being done in person.

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Unattended Retail Can Boost Visits To Stores

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Wendy’s , for example, planned to roll out self-ordering kiosks at about 1,000 of its retail locations by the end of 2017 in an attempt to both lure younger customers and to battle long lines at peak dining hours. Merchants from QSRs to large eCommerce retailers are turning to technology such as digital kiosks to drive traffic into their stores. If they don’t, they risk losing business to competitors that embrace the technology, according to the PYMNTS Unattended Retail Tracker.

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Retailers Ready To Drop Credit Card Signatures

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With fraud on the rise, credit card networks have realized that customer signatures are simply not a reliable way to authenticate someone’s identity — and some of the country’s largest retailers agree. And Visa is making signatures optional in North America, but only for retailers with payment systems that read chip cards. However, the networks allowed retailers to maintain their own policies, while also discouraging smaller merchants from getting rid of signatures entirely.

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Retail Labor Shortage Concerns Deepening

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A good economy is good news for retailers in a variety of regards. But for retailers going into the holiday season 2016, a good economy is creating yet another headwind for physical retailers who’ve spent much of the year being buffeted constantly by market pressures. Much of that hiring came from retail, according to reports, with about 15,968,000 people working in the industry. ” Retail labor shortage

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Retail’s Walking Dead

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It’s not a bad metaphor for the state of retail right now. The zombies — the walking dead — are those who just don’t know yet the state of their misfortune and take solace from the fact that 90 percent of retail sales still happen in physical stores, so they’re still very much alive. These retailers are giving traditional department stores and big-box retailers (aka the walking dead) a run for their money. retail locations in 2017 combined.

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In Retail, Experience Is King

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RIP retail. In a recent whitepaper, the firm noted that brick-and-mortar retailers face — and certainly feel — more pressure than ever to keep stores humming as centers of commerce. After all, over 90 percent of retail sales are still done in physical stores. In a conversation with PYMNTS, Yuval Yatskan, VP of marketing for Skava , laid out the case that retail is evolving. Where Amazon treads, retailers tremble. All retailers gain a boost from loyal employees.

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Local Businesses’ Retail Windfall

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As retail chains continue to shutter their doors on brick-and-mortar locations , they’re having a surprising impact on the communities around them. With these big box stores closing, consumers are turning to smaller retail outlets for their shopping needs. By April of this year, Standard & Poor’s analysis of the retail scene found there were 14 bankruptcy filings by major retailers compared with 18 overall for the year of 2016.

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Why The Mobile Shopping Experience Needs Retail

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But, while more consumers are heading to mobile retail channels, the personal experience and ability to touch and preview items in-person offered by physical stores still holds allure for roughly 70 percent of shoppers. Avert your gaze from your phone for a moment — if you can.

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Channeling Retail’s Inner Animal

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Just like the consumer that every retailer and innovator hopes to attract makes their decisions about where and how to shop in the physical store. Now, while their work was done in the context of the environmental implications for city planners, it is equally insightful for retailers, when analyzed in the context of the Pentland work. Here’s what that means for retailers, why physical retail is in such a world of hurt and where the silver lining might lie.

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The Place For AI In Retail’s Future

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Artificial intelligence (AI) is making itself right at home in the retail industry. In 2016, AI in the retail market totaled $712.6 The popularity of mobile shopping among consumers has pushed traditional retailers to reimagine their strategies for creating and capturing value, while digital players must also up their game to remain competitive with a lower barrier to entry in the space. million. By 2025 — less than a decade later — it’s projected to reach $27,238.6

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How Analytics Can Help Fashion Brands And Retailers

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Historically, large retailers tend to move more slowly. With those challenges in mind, StyleSage seeks to help brands and retailers through its competitive intelligence tool that works across four areas: pricing, assortment building, trends and promotions. Brands and retailers work on a global scale, after all. While development cycles can range up to a year in traditional retail, fast fashion brands can bring their products to market within eight weeks.