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Retail 2021: The Five Things Retailers Should Be Talking About At NRF This Week

PYMNTS

Every year for the last 110 years , members of the retail trade group, known as the National Retail Federation (NRF), have assembled to discuss the slate of issues pertinent to its members. COVID-19, of course, didn’t cause physical retail’s steep decline — it just accelerated it. Retail is now about logistics and the last mile.

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Why Does The Path To Retail Innovation Go Through So Many Labs?

PYMNTS

It’s not enough to be a retailer these days, not if a merchant intends to survive in a world of commerce dominated by the likes of Amazon and other tech-focused competitors. PYMNTS readers can be forgiven if they view innovation labs (no matter the label) as something that verges on retail fad. New Efforts. Lab Changes.

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Why Instagram’s New Shopping Icon Is Changing Ecommerce Forever

Perficient

Social influencers could promote brands through their channels and direct users to “swipe up” or click a link in their bio to purchase. By giving a channel for this social proof use case, Instagram allows customers to interact and purchase brands that their favorite influencers represent. The statistics don’t lie.

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Retail Vacancies Spike In New York City

PYMNTS

As New York City ’s vacancy rate has skyrocketed by nearly 50 percent, a report released by City Comptroller Scott Stringer showed that the amount of empty retail space in the city has doubled in the last 10 years or so. percent in 2017, up from 4 percent in 2007, according to Retail Dive. The vacancy rate reached a high of 5.8

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For Better Or Worse, Customer Service IS The Brand

PYMNTS

A good product at a good price: that used to be the recipe for a good brand. But a third ingredient in retail is quickly overshadowing those bastions of success, and that is customer service. Brand value. DR: Mobile payment technologies are bringing brands closer to their customers than ever before.

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Retail Pulse: 7-Eleven Tests Cashierless Tech; Staples Debuts Connect Store Concept

PYMNTS

Brick-and-mortar retailers are testing convenience store designs that let consumers skip the checkout line and pay for their purchases with their mobile phones. 7-Eleven President and CEO Joe DePinto said in an announcement , “Retail technology is evolving at a rapid pace, and customer expectations are driving the evolution.

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As Retail Tech Advances, Associates Become More Important

PYMNTS

Retail is about more than the products being sold or the technology being used. That change is being reflected at the NRF annual event commonly called “Retail’s Big Show,” which ends on Tuesday (Jan. We built all of these mobile commerce things, but retailers still had all these physical stores,” Levene told NRF. Teen Workers.

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