How Clothing Stores Are Driving Retail Innovation

PYMNTS

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.

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Today In Data: Digital Retail Innovation

PYMNTS

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.

Sears Bankruptcy Could Boost Rival Retailers

PYMNTS

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

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Retail Sales Reach $509B In September

PYMNTS

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.

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The Retail Holiday Hiring Headache

PYMNTS

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.

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Mobile Payments 101: Retail

Mobile Payments Today

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

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The Retail Complexities Of Wooing Bridge Millennials

PYMNTS

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.”.

Hurricane Florence’s Retail Punch

PYMNTS

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.

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Digital payments and the retailer

Mobile Payments Today

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

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Matching Retail And Payment Perceptions To Realities

PYMNTS

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.

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Thrifting Through Retail Finds

PYMNTS

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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AI/BOT: Retail’s AI Survival

PYMNTS

Retail

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Gap, Gusto And The Real Power Of Data In Retail

PYMNTS

If data is the new oil, then it could be said that retailers are sitting on data gushers. After all, they have terabytes of data flowing across their various retail channels — and then use the insights that come from it to build better consumer experiences.

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Retail Goes Remote

PYMNTS

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.

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5G Retail Possibilities Expand As Mobile Tech Gets Ready To Roll

PYMNTS

In a way, that’s the situation with 5G and digitally enhanced retail right now. That vision includes significant gaps that will not be filled until 5G technology undergoes significant deployment and early retail use cases emerge. 5G Retail Pitch. retailers.

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Retail Reinvention: Why Retail Doesn’t Need Salespeople

PYMNTS

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.

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Attending To Unattended Retail

PYMNTS

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.

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Restaurant and retail executives share their insights about mobile trends

Mobile Payments Today

Restaurant and retail executives that gathered in Chicago this past summer for the Networld Media Group's annual CONNECT: The Mobile CX Summit shared their thoughts with us about the hottest trends in mobile technology in this exclusive video

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Klarna Gets $20M From H&M To Integrate With Retailer

PYMNTS

Meanwhile, Sebastian Siemiatkowski, CEO and co-founder of Klarna, noted in the press release that the retail market is changing again with the future of fashion retail focused on technology. Customers will no longer be forgiving of unnecessary complexity or when their retail experience does not leverage the insight available to make their engagement smart, personal and easy. Partnerships / Acquisitions ecommerce fashion H&M Klarna News payments Retail What's Hot

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Which Retailers Are Using Instacart?

CB Insights

The new round underscores Instacart’s growing popularity among grocery retailers. Get the 54-page retail report. Learn about the technologies, innovations, and strategies that retailers can leverage this holiday season. The post Which Retailers Are Using Instacart?

China Tariffs Add To Retailer Holiday Worries

PYMNTS

retailer’s point of view, Christmas is beginning to look like a victim in the budding U.S.-China According to the retailer, tariffs will result in Walmart customers facing “cost increases for essential items like car seats, cribs, backpacks, hats, pet products and bicycles. Either consumers will pay more, suppliers will receive less, retail margins will be lower or consumers will buy fewer products or forego purchases altogether.” ” Retailers Sound Off.

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WeWork Rolls Out Retail Form

PYMNTS

WeWork – the ever expanding office-sharing mega-firm- is officially kicking off its launch into retail. Retail communal living coworking Merchant Innovation News nyc WeWork What's HotAnd, according to Chain Store Age reports – it comes with an audience pre-built in. The new concept – titled, WeMrkt – within one of its early WeWork locations in downtown NYC. The small shop is designed around a small but specific collection of curated merchandise.

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Changing Retail Is Changing Retail Workers

PYMNTS

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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For Retail Promotions, Rewards Beat Out Discounts

PYMNTS

Target , among other retailers, is beginning to experiment with a new rewards program. Retail customer loyalty discounts loyalty News Prepaid Cards promotions Rewards shoppingTo create sales lift and purchase intent without the negative brand effects of discounting, Aberdeen Group, which was created for Blackhawk Network’s Hawk Incentives, discovered that promotions based on rewards can be more effective than discount offers.

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Nike Abandons ‘Mediocre’ Retail

PYMNTS

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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Amid Amazon Effect, CVS and Walgreens Look Beyond Retail Shelves  

PYMNTS

Retail aetna Amazon Amazon Effect cvs ecommerce News online drugstores pharmacies WalgreensThe Amazon Effect has spurred pharmacies to reach beyond the drugstore aisles, virtual and physical. As noted this week by CNBC, two giants in the field, Walgreens and CVS Health , have been refashioning themselves as healthcare companies eyeing the patient care continuum. The latter firm, of course, is in the midst of acquiring Aetna, the insurer, in a deal valued at $69 billion.

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Retail’s Small Business Crisis

PYMNTS

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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MATCHESFASHION.com’s Technology-Driven Retail Experience

PYMNTS

The brand wants customers to stop and smell the candles, and have built a retail experience that forces them to do so, while still offering up their goods on demand. Unlike its competitors in the field like Net-a-Porter , physical retail has always been part of the firm’s blueprint. Our vision of retail offers inclusive events that customers can sign up to attend or watch live and discover content generated to inspire them,” Jerome said.

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Retailers Face More Job Openings Than New Hires

PYMNTS

With unemployment at new lows, staffing has become a challenge for retail companies. Retailers had 757,000 job openings in July, which is roughly 100,000 more than they had a year before, The Wall Street Journal reported. In addition, data from LinkedIn has suggested that cities such as Seattle and New York have a dearth of workers with retail skills. Retailers are hosting “recruiting marathons” to help hire thousands of people.

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Will VR Save Retail?

PYMNTS

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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Retail Pulse: FAO Schwarz To Open New Flagship; Amazon Expands Grocery Delivery

PYMNTS

Brick-and-mortar retailers have closed flagship locations in recent times, but sometimes these landmark stores make a comeback. The new store, which will be located at 30 Rockefeller Plaza, will feature multiple experiential retail components.

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Telltale Signs: Warehouse Leasing Vs Retail Leasing

PYMNTS

It’s a good time in America to have a retail space ready to rent out — eCommerce merchants are on the hunt and signing large contracts. By category, the biggest lease signers were manufacturers, with 14 percent of the market, followed closely by beverage providers (11 percent), retailers (7 percent) and tech firms (4 percent). In hot markets like Manhattan , retailers are testing the physical sales waters with short-term leases before making a long-term commitment to a location.

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

PYMNTS

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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US Retail Sales Rose Higher In July

PYMNTS

retail sales rose higher than expected last month — a sign that the economy remained strong early in the third quarter. According to Reuters , the Commerce Department revealed that, with the exclusion of automobiles, gasoline, building materials and food services, retail sales increased 0.5 Economists had forecast retail sales going up 0.1 percent, online and mail-order retail sales increased 0.8

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Comcast’s Retail Ambitions

PYMNTS

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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How Self-Service Retail Is Becoming Mainstream Retail

PYMNTS

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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The Buyers: Teen Retail Engagement

PYMNTS

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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Q12018’s Big Retail Chill

PYMNTS

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

PYMNTS

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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Unattended Retail Lessons From Caviar Dreams

PYMNTS

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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La Ligne’s Innovatively Old-School Approach To Fashion Retail

PYMNTS

Luxury style and quality brands, offered at a more middle-class price point and sold directly to consumers, is increasingly crowded terrain in apparel retail. Or, perhaps more accurately, through tactics that are so traditional they are surprising to see in a modern retail context. The retailer reports 100 percent year-on-year growth in their revenue and “massive” customer retention rates – though in both areas, its staff demurs on offering specific figures.

Brick-And-Mortar Retailers Take On Omnichannel

PYMNTS

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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BingoBox’s Unattended Retail Revolution

PYMNTS

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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