INDUSTRY INSIGHTS YOUR PEERS ARE READING
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. MORE
6) that it has acquired StopLift Checkout Vision Systems, an intelligent computer vision system, to combat theft in the retail business. NCR , the banking and commerce solutions company, announced Tuesday (Nov. MORE
Retailers are turning to accelerators to drive innovation, and Target is taking its program to the international stage: It is teaming up with Germany’s wholesale and food specialist METRO AG for its cohort this year. What new retail inventions will these accelerators bring? MORE
Top U.K. banks and financial technology firms have worked together to create a set of guidelines to improve the relationship between FinTech startups and financial institutions (FIs). MORE
Take retail salespeople — Stoll’s self-proclaimed cornerstones of capitalism. Back in the so-called “good old days” of retail, salespeople used to be the only source of information consumers could consult about a product before they made a purchase. Service — not sales — is the new human retail touchpoint. It almost has to be that way for retail to remain relevant and competitive. The composition of the retail workforce is changing. MORE
Merchants experienced a strong start to the holiday season, with retail spend growth up 7.5 percent: The share of retail spend growth for Thanksgiving and Black Friday year over year. percent on a year-over-year basis over Thanksgiving and Black Friday. MORE
Cyber Monday, a one-time marketing stunt that has grown monstrous (good monster — not the evil type,) will set yet another retail record this year, Adobe predicted, with sales on Nov. He added that there is one big factor that retailers should not worry about playing a role in holiday sales. MORE
Artificial intelligence (AI) and machine learning (ML) are blurring the divide between online and in-store shopping, and bringing an all-new human element into retail. MORE
And the assumption is that physical retail strength is all about new and fancy, but TJX shows you can do the same thing for a long time – if you do it well. There are many things modern consumers perceive as true, even when they aren’t. MORE
Overstock is gearing up to sell its retail business, with a deal taking place in the next few months as it focuses solely on its blockchain initiatives. Overstock has previously announced plans to sell the retail business so that it can focus on blockchain technology. MORE
The “yellow vest” protests have cost French retailers about $1.1 billion dollars in revenue since they started last month, according to The French retail federation (FCD). International Christmas Shopping economy France Fuel Tax News paris Protests Retail What's Hot MORE
But the same technology that enables those transactions also can bring the benefits of consumer intimacy to small and medium-sized businesses (SMBs) that are often struggling to win more market share in a retail world dominated by the likes of Amazon, Walmart and other large retailers. MORE
Teaming up with another retailer is not wholly new ground – some J.Crew and Madewell items are already on sale, and a partnership with Hudson Bay has already been announced. We also think comprehending their behaviors today is critical for retailers.”. MORE
Walmart plans to bring an Intelligent Retail Lab to a Levittown, New York, store to experiment with customer and associate experiences. In one case, the retailer could use the technology for inventory: It could reorder items when a store is running low. MORE
Many organizations, from retailers to local governments, are turning to self-driving technology to help them reach their goals and to get purchases and people to their destinations. Grocery retailers in particular have taken an interest in Udelv’s service. MORE
Mastercard and Next Retail Concepts announced a new way to shop online this holiday season, with a new digital environment that lets shoppers browse and buy as if they were in a physical store. ” Digital Payments ecommerce MasterCard Next Retail Concepts Retail shopping What's Hot MORE
In an interview with PYMNTS’ Karen Webster, Mike Lawlor, chief services officer of USA Technologies, dove into the innovations that have marked the unattended retail space. Thus, there is the trend of “convergence between traditional retail and these new types of technology that is built around making the consumer experience a whole lot better … [The unattended retail experience] is changing and will continue to change.”. Vending machines. MORE
The system may eventually shorten the lag time between when a shopper pays with a debit card to when the funds arrive at the retailer, The Wall Street Journal reported. Retailers have already made changes to them to allow for the acceptance of chip-based cards.). MORE
Retailers, payment technology providers and others are rolling out new services to make it easier to complete transactions on mobile platforms MORE
The problem with contemporary physical retail, according to Fourpost Founder and CEO Mark Ghermezian, is that it has simply failed to keep pace with direction and push of modern retail. Fourpost is an attempt to get physical retail back in line with the times, giving shoppers a different type of retail experiences by offering them a single shopping location designed to be a “Studio of Shops.”. Retail Concept shops Fourpost Mall of America News pop up shops Shoptalk MORE
To help shoppers check out without waiting in line, grocery retailers are rolling out entire stores centered around cashierless shopping experiences, enabling consumers to purchase fresh food and grocery items with a mobile payments app. MORE
While 90 percent of the company’s revenue comes from online sales per the Times , Glossier’s ethos is that it is not led by either brick-and-mortar retail or eCommerce. Weiss sees the company as “emotional commerce,” meaning at art and discovery is still central to retail. MORE
The space can appeal to digital native brands that might want to dip their toes into the world of brick-and-mortar retail. Macerich has reportedly been able to significantly shorten the time it takes a retail store to get set up and running, after all. MORE
Black Friday was a boon for online retail. Adobe’s analysis of 80 of the top 100 internet retailers found that consumers racked up two billion dollars in sales via their smartphones between Thanksgiving and the end of the day on Black Friday. The Physical Retail Death Spiral, Take Two. MORE
Beverage brands are getting in the experiential retail spirit by crafting new spaces dedicated to encouraging libation aficionados to try out their products. Another Diageo brand, Guinness , brought a $90 million brewery to Maryland that welcomes visitors with experiential retail components. MORE
But the excitement — high drama — warm-up commerce run is now over, and the main event is underway as Florence — and Florence is forecast to be the worst storm of its kind to hit North Carolina in nearly 64 years — is expected to have major effects on retail sales, employment and real estate in the state for a long time after the winds stop blowing. billion in consumer and retail sales (including restaurants) were lost to Irma, while Hurricane Harvey cost businesses around $1 billion. MORE
However, AR is now rewriting the rules of the retail game. A growing number of retailers are leveraging the technology to entice customers with a “try before you buy” shopping experience, having already been adopted by several big names in retail, including the likes of Walmart and Target. 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
Refunds in the hundreds of millions might be in store for retailers with the ruling, the Financial Times reported. Schurder told the FT , “ATMs are part of the retail offer of the stores they are situated in and the VOA should never have treated them as separate businesses. 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
By some accounts, the 2018 holiday season is going to be a bang-up year for retailers. retailers are expected to increase 4.8 percent this year, according to the National Retail Federation (NRF) — well above the 3.9 percent growth seen by the retail market one year ago. MORE
It’s what’s turned the retail word upside down as consumers with their mobile devices have decided they’d rather buy from their couch with their mobile phone than schlep to the mall. In other words, kick the door wide open to remote retail. Meeting the consumer where they are. MORE
Rival retailers could be the biggest beneficiaries of the demise of Sears Holdings. The retailer is trimming 360 jobs, including 130 positions in its headquarters. Retail bankruptcy JCPenney liquidation News Retail competition Sears store closings What's Hot MORE
Falling short of economists’ expectations, retail store and restaurant sales grew by only 0.1 But sales at non-store retailers, including mail order catalogs and eCommerce sites, rose by 1.1 percent from August to September to reach a seasonally adjusted figure of $509 billion. MORE
In an organized retail crime (ORC) survey, the National Retail Federation found that 92 percent of respondents were victims of the practice in the past year. These criminals find new ways to expand their networks and manipulate the retail supply chain every day.”. MORE
retail outfit that sells children’s clothing, is mulling whether to shutter more than half of its 900-store base, Reuters reported Tuesday (Nov. Gymboree was one of a wave of 20 retailers that have filed for bankruptcy since the start of 2017. Gymboree, the U.S. MORE
Still, it’s striking — or, perhaps, significantly hopeful, in a retail sense — that 65.4 percent of retailers have said they innovate to improve customer loyalty. It’s not your father’s customer loyalty anymore. MORE
By working collaboratively with these retailers, we’ve created a way for businesses to take proactive steps to prevent scams,” New York State Attorney General Barbara Underwood said in a statement. MORE
New technologies bring new opportunities to serve consumers, and retailers are offering their customers more digital options than ever to meet their wants and needs. 56 percent: The percentage of retailers that say they innovate to meet consumer demand for new payment methods. MORE
retail stocks took a beating in trading Tuesday (November 20), with the group losing around $50 billion in value as a lackluster earnings season raised more concerns about the impact Amazon is having on traditional retailers. 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
Wells Fargo has revealed that it is firing around three dozen district managers due to the retail banking scandal that happened more than two years ago. As for the bank’s district managers, they usually oversee anywhere from five to 15 retail bank branches, depending on the area. MORE
Retailers had to make that changeover quickly, as online players became an increasingly obvious threat to their future. What the consumer, the bank and the retailer are looking at today is the same,” Engel said. “We Entering The Consumers’ Retail Stream In Context. MORE
Retail Related Topics PYMNTS
NOVEMBER 28, 2018
retail outfit that sells children’s clothing, is mulling whether to shutter more than half of its 900-store base, Reuters reported Tuesday (Nov. Gymboree was one of a wave of 20 retailers that have filed for bankruptcy since the start of 2017. Gymboree, the U.S.
PYMNTS
DECEMBER 5, 2018
Retailers are turning to accelerators to drive innovation, and Target is taking its program to the international stage: It is teaming up with Germany’s wholesale and food specialist METRO AG for its cohort this year. What new retail inventions will these accelerators bring?
PYMNTS
NOVEMBER 26, 2018
Black Friday was a boon for online retail. Adobe’s analysis of 80 of the top 100 internet retailers found that consumers racked up two billion dollars in sales via their smartphones between Thanksgiving and the end of the day on Black Friday. The Physical Retail Death Spiral, Take Two.
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
NOVEMBER 9, 2018
Still, it’s striking — or, perhaps, significantly hopeful, in a retail sense — that 65.4 percent of retailers have said they innovate to improve customer loyalty. It’s not your father’s customer loyalty anymore.
PYMNTS
NOVEMBER 6, 2018
6) that it has acquired StopLift Checkout Vision Systems, an intelligent computer vision system, to combat theft in the retail business. NCR , the banking and commerce solutions company, announced Tuesday (Nov.
PYMNTS
NOVEMBER 25, 2018
Overstock is gearing up to sell its retail business, with a deal taking place in the next few months as it focuses solely on its blockchain initiatives. Overstock has previously announced plans to sell the retail business so that it can focus on blockchain technology.
PYMNTS
NOVEMBER 20, 2018
The space can appeal to digital native brands that might want to dip their toes into the world of brick-and-mortar retail. Macerich has reportedly been able to significantly shorten the time it takes a retail store to get set up and running, after all.
PYMNTS
OCTOBER 17, 2018
New technologies bring new opportunities to serve consumers, and retailers are offering their customers more digital options than ever to meet their wants and needs. 56 percent: The percentage of retailers that say they innovate to meet consumer demand for new payment methods.
PYMNTS
OCTOBER 23, 2018
To help shoppers check out without waiting in line, grocery retailers are rolling out entire stores centered around cashierless shopping experiences, enabling consumers to purchase fresh food and grocery items with a mobile payments app.
PYMNTS
DECEMBER 3, 2018
Mastercard and Next Retail Concepts announced a new way to shop online this holiday season, with a new digital environment that lets shoppers browse and buy as if they were in a physical store. ” Digital Payments ecommerce MasterCard Next Retail Concepts Retail shopping What's Hot
PYMNTS
NOVEMBER 20, 2018
In an organized retail crime (ORC) survey, the National Retail Federation found that 92 percent of respondents were victims of the practice in the past year. These criminals find new ways to expand their networks and manipulate the retail supply chain every day.”.
PYMNTS
NOVEMBER 9, 2018
While 90 percent of the company’s revenue comes from online sales per the Times , Glossier’s ethos is that it is not led by either brick-and-mortar retail or eCommerce. Weiss sees the company as “emotional commerce,” meaning at art and discovery is still central to retail.
PYMNTS
DECEMBER 6, 2018
Wells Fargo has revealed that it is firing around three dozen district managers due to the retail banking scandal that happened more than two years ago. As for the bank’s district managers, they usually oversee anywhere from five to 15 retail bank branches, depending on the area.
PYMNTS
DECEMBER 6, 2018
The system may eventually shorten the lag time between when a shopper pays with a debit card to when the funds arrive at the retailer, The Wall Street Journal reported. Retailers have already made changes to them to allow for the acceptance of chip-based cards.).
PYMNTS
OCTOBER 10, 2018
By some accounts, the 2018 holiday season is going to be a bang-up year for retailers. retailers are expected to increase 4.8 percent this year, according to the National Retail Federation (NRF) — well above the 3.9 percent growth seen by the retail market one year ago.
PYMNTS
NOVEMBER 12, 2018
Walmart plans to bring an Intelligent Retail Lab to a Levittown, New York, store to experiment with customer and associate experiences. In one case, the retailer could use the technology for inventory: It could reorder items when a store is running low.
PYMNTS
NOVEMBER 12, 2018
Beverage brands are getting in the experiential retail spirit by crafting new spaces dedicated to encouraging libation aficionados to try out their products. Another Diageo brand, Guinness , brought a $90 million brewery to Maryland that welcomes visitors with experiential retail components.
PYMNTS
NOVEMBER 21, 2018
retail stocks took a beating in trading Tuesday (November 20), with the group losing around $50 billion in value as a lackluster earnings season raised more concerns about the impact Amazon is having on traditional retailers.
PYMNTS
OCTOBER 15, 2018
Falling short of economists’ expectations, retail store and restaurant sales grew by only 0.1 But sales at non-store retailers, including mail order catalogs and eCommerce sites, rose by 1.1 percent from August to September to reach a seasonally adjusted figure of $509 billion.
PYMNTS
DECEMBER 5, 2018
Merchants experienced a strong start to the holiday season, with retail spend growth up 7.5 percent: The share of retail spend growth for Thanksgiving and Black Friday year over year. percent on a year-over-year basis over Thanksgiving and Black Friday.
PYMNTS
DECEMBER 7, 2018
The “yellow vest” protests have cost French retailers about $1.1 billion dollars in revenue since they started last month, according to The French retail federation (FCD). International Christmas Shopping economy France Fuel Tax News paris Protests Retail What's Hot
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
NOVEMBER 8, 2018
Top U.K. banks and financial technology firms have worked together to create a set of guidelines to improve the relationship between FinTech startups and financial institutions (FIs).
PYMNTS
OCTOBER 16, 2018
Rival retailers could be the biggest beneficiaries of the demise of Sears Holdings. The retailer is trimming 360 jobs, including 130 positions in its headquarters. Retail bankruptcy JCPenney liquidation News Retail competition Sears store closings What's Hot
PYMNTS
NOVEMBER 19, 2018
But the same technology that enables those transactions also can bring the benefits of consumer intimacy to small and medium-sized businesses (SMBs) that are often struggling to win more market share in a retail world dominated by the likes of Amazon, Walmart and other large retailers.
PYMNTS
OCTOBER 23, 2018
Retailers had to make that changeover quickly, as online players became an increasingly obvious threat to their future. What the consumer, the bank and the retailer are looking at today is the same,” Engel said. “We Entering The Consumers’ Retail Stream In Context.
PYMNTS
OCTOBER 31, 2018
However, AR is now rewriting the rules of the retail game. A growing number of retailers are leveraging the technology to entice customers with a “try before you buy” shopping experience, having already been adopted by several big names in retail, including the likes of Walmart and Target.
PYMNTS
NOVEMBER 30, 2018
Many organizations, from retailers to local governments, are turning to self-driving technology to help them reach their goals and to get purchases and people to their destinations. Grocery retailers in particular have taken an interest in Udelv’s service.
PYMNTS
NOVEMBER 5, 2018
Cyber Monday, a one-time marketing stunt that has grown monstrous (good monster — not the evil type,) will set yet another retail record this year, Adobe predicted, with sales on Nov. He added that there is one big factor that retailers should not worry about playing a role in holiday sales.
PYMNTS
AUGUST 21, 2017
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.
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
SEPTEMBER 19, 2018
Artificial intelligence (AI) and machine learning (ML) are blurring the divide between online and in-store shopping, and bringing an all-new human element into retail.
PYMNTS
APRIL 12, 2016
It’s what’s turned the retail word upside down as consumers with their mobile devices have decided they’d rather buy from their couch with their mobile phone than schlep to the mall. In other words, kick the door wide open to remote retail. Meeting the consumer where they are.
PYMNTS
SEPTEMBER 14, 2018
But the excitement — high drama — warm-up commerce run is now over, and the main event is underway as Florence — and Florence is forecast to be the worst storm of its kind to hit North Carolina in nearly 64 years — is expected to have major effects on retail sales, employment and real estate in the state for a long time after the winds stop blowing. billion in consumer and retail sales (including restaurants) were lost to Irma, while Hurricane Harvey cost businesses around $1 billion.
PYMNTS
OCTOBER 23, 2018
The problem with contemporary physical retail, according to Fourpost Founder and CEO Mark Ghermezian, is that it has simply failed to keep pace with direction and push of modern retail. Fourpost is an attempt to get physical retail back in line with the times, giving shoppers a different type of retail experiences by offering them a single shopping location designed to be a “Studio of Shops.”. Retail Concept shops Fourpost Mall of America News pop up shops Shoptalk
PYMNTS
NOVEMBER 12, 2018
Refunds in the hundreds of millions might be in store for retailers with the ruling, the Financial Times reported. Schurder told the FT , “ATMs are part of the retail offer of the stores they are situated in and the VOA should never have treated them as separate businesses.
PYMNTS
OCTOBER 3, 2016
Take retail salespeople — Stoll’s self-proclaimed cornerstones of capitalism. Back in the so-called “good old days” of retail, salespeople used to be the only source of information consumers could consult about a product before they made a purchase. Service — not sales — is the new human retail touchpoint. It almost has to be that way for retail to remain relevant and competitive. The composition of the retail workforce is changing.
PYMNTS
OCTOBER 5, 2018
Teaming up with another retailer is not wholly new ground – some J.Crew and Madewell items are already on sale, and a partnership with Hudson Bay has already been announced. We also think comprehending their behaviors today is critical for retailers.”.
PYMNTS
DECEMBER 7, 2016
In an interview with PYMNTS’ Karen Webster, Mike Lawlor, chief services officer of USA Technologies, dove into the innovations that have marked the unattended retail space. Thus, there is the trend of “convergence between traditional retail and these new types of technology that is built around making the consumer experience a whole lot better … [The unattended retail experience] is changing and will continue to change.”. Vending machines.
PYMNTS
SEPTEMBER 12, 2018
And the assumption is that physical retail strength is all about new and fancy, but TJX shows you can do the same thing for a long time – if you do it well. There are many things modern consumers perceive as true, even when they aren’t.
Mobile Payments Today
NOVEMBER 16, 2018
Retailers, payment technology providers and others are rolling out new services to make it easier to complete transactions on mobile platforms
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