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Malls Close Vacancy Gap With 1700+ Online Retailers

PYMNTS

Malls are going to become more exciting as some of the old retail guard clears out, and the new guard moves in.”. Brick-and-mortar retail isn’t dying, it’s evolving,” said Sharon Lim, CEO of Browzwear , an apparel designer firm headquartered in Singapore. UBS also reported in April that online shopping by the average U.S.

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Is This The End Times For Brick-And-Mortar Retail?

PYMNTS

Retail apocalypse? Whatever you want to call the decline of brick-and-mortar retail – and it’s getting worse, according to a few recent reports – it’s not good. merchants this year already have said they will shutter nearly 6,000 physical retail locations – that’s more than the nearly 5,900 closings for the entire year of 2018.

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AI Takes The Measure Of Fashion Retailing

PYMNTS

That has led to the growing need for designers and retailers to personalize shopping experiences, and that’s the sweet spot for AI. percent clip from 2020 to 2026. For retailers the concept of taxonomy — naming and classifying items — has been transformed by AI. Fast fashion retailer H&M uses A.I.

Retail 165
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FedEx Makes Major Foray Into eCommerce By Buying ShopRunner

PYMNTS

In pursuit of our purpose of creating the future of retail, we have built the foundation of a cross-brand ecosystem to create a simple shopping experience for consumers and to aggregate the scale of our network for our partners’ benefit,” Yagan said in the news release. ShopRunner CEO Sam Yagan offered a similar take on the deal. “In

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Fifth Avenue Vacancies Reflect Uptick In Retail Closures

PYMNTS

As retailers shutter locations from the heartland to big cities, the latest update on the state of retail from New York’s storied Fifth Avenue says that rents are falling and vacancies are rising – showing that even a flagship address can’t escape the realities of modern-day commerce. We’re in the middle of a multi-year retail purge.

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Can Real Estate Provide A Lifeline for Physical Retail?

PYMNTS

Might Macy’s be a better landlord than retailer? have been hurt as shoppers make more purchases online, forcing retailers to think of ways to either downsize their footprints or repurpose their stores. The year got off to a bumpy start for the retail chain, as holiday sales slumped when they were supposed to soar. Macy’s Woes.

Retail 122
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Revolutionizing the Way We Pay: The Top Payment Industry Trends You Need to Know in 2023

Perficient

In fact, according to The Business Research Company’s 2022 Payment Security Global Market Report , the payment security market is expected to reach $43 billion by 2026. Vendor and payment companies alike are seeking and creating solutions to provide their customers with the most secure digital payment experiences possible.

Industry 471