PYMNTS

AUGUST 31, 2020

There’s a storm brewing in the Indian retail scene, with Amazon at its center. Over the weekend, Reliance Industries – the company owned by India’s richest man, Mukesh Ambani – purchased Future Group ’s 2,000 retail stores and the Big Bazaar grocery chain. Whole Foods has 497 stores. billion consumers. “At

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PYMNTS

DECEMBER 4, 2020

The bank also processed record-breaking online and mobile payment transactions on Cyber Monday, up nearly 25 percent over 2019. Because of the pandemic, shoppers shifted to online shopping for both discretionary goods and everyday spending. Morgan, said in a blog post on Friday (Dec.

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PYMNTS

SEPTEMBER 18, 2020

Online marketplaces are the digital storefronts helping small to mid-sized businesses survive — but adding real-time settlement into the mix can help them thrive. And 60 percent of surveyed firms selling across online marketplaces would take their business to one that offers real-time settlement.

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PYMNTS

DECEMBER 17, 2020

In today’s top retail news, StockX has landed $275 million in a Series E funding round, while Rite Aid Corporation reported as part of its fiscal 2021 third quarter results that revenues rose by 12 percent. Fashion Retailer rue21 Strikes Deal To Retire Debt. Clothing retailer rue21 (r21 Holdings, Inc.) million members.

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PYMNTS

OCTOBER 15, 2020

Even online merchants who offer customers extended warranties at the time of sale traditionally see about a 4 percent or 5 percent conversion rate. Retailers] are seeing double-digit higher conversion rates when an extended warranty is shown – not on the extended warranty, but conversion rates on the product itself,” Levin said.

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Online Exercises Retail Capital 334

PYMNTS

APRIL 28, 2020

Reinventing retail in the wake of COVID-19 may mean reinventing retail formats. It’s also likely that retailers will see more men in-store than women, and they should consider adjusting inventory to target these shoppers.”. Inventory adjustments will only be part of the post-COVID retail order.

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PYMNTS

NOVEMBER 10, 2020

The David’s Bridal application was built by Vertebrae , a tech company that specializes in bringing real-world applications to retailing. Vince Cacace , CEO of Vertebrae, told PYMNTS that AR in 3D has become a high-demand technology for all kinds of products and retailers. “We Some of those questions are: How big is it?

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Retail Technology Training Online 261

PYMNTS

JANUARY 20, 2021

In today’s top retail news, Birkenstock is said to be in discussions for a sale to CVC Capital Partners, while Cognira has released its AI Promotion Solution. The European shoe company could reportedly be valued at more than 4 billion euros (roughly $4.8 Cognira Rolls Out AI Promotion Suite For Retailers.

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PYMNTS

NOVEMBER 9, 2020

“We are essentially taking glass doors that were probably underutilized and not asking the retailer for any additional physical space.”. From a business standpoint, we believe that things like sales lift are obviously a really important metric,” Dravenstott said, “and you don't hear that much in brick and mortar retail.

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PYMNTS

OCTOBER 19, 2020

In a quest to dominate online food shopping in China, Alibaba invested $3.6 billion for a controlling stake in the hypermarket operator Sun Art Retail Group , Alibaba said in a statement on Monday (Oct. billion — in Auchan’s A-RT Retail. As part of the deal, Alibaba will acquire a 70.94% equity interest — worth about $3.6

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PYMNTS

NOVEMBER 5, 2020

This in a week that has seen news reports that the world’s largest retailer has terminated its contract — and a 3-year-old automated shelf-stocking experiment — with San Francisco’s Bossa Nova Robotics , having found that existing “human” employees were able to do the same work just as well. The COVID Effect. Re-Think vs Reject.

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PYMNTS

OCTOBER 1, 2020

online grocery retailer Ocado is involved in a patent lawsuit over robotically-operated warehouse technology with robotics company AutoStore , Reuters reported. The company, which was founded in 1996, is seeking financial damages and to bar Ocado from making and selling the products and importing them to the U.S.

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PYMNTS

NOVEMBER 9, 2020

As COVID-19 continues to modify ideas around how we shop and pay, consumers and B2B buyers are also making choices about where to shop: online or in-store? Now there are signals that a physical retail rebound is forming up. Another example is Amazon, whose touchless retail concepts give a good look at in-store experiences to come. “Of

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PYMNTS

DECEMBER 9, 2020

The app-based tool gives salon customers the ability to book their appointments online and also issues reminders. Square just teamed up with DoorDash to give online merchants the ability to fulfill orders with on-demand deliveries.

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PYMNTS

NOVEMBER 16, 2020

When he first came up with the idea for an eCommerce technology company, Co-founder and CEO Finbarr Taylor was in the process of plowing through this story of medieval Japan. He needed a name for the company and liked the book. It enables companies like Leesa to import their product data during an expansion to a new region.

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PYMNTS

DECEMBER 27, 2020

The second trial of digital yuan by the People's Bank of China has concluded, resulting in hundreds of thousands spent on eCommerce retail, food delivery and ride-sharing, The Wall Street Journal (WSJ) reports. There were 100,000 winners who got the chance to spend 200 digital yuan on various online or offline services.

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Retail Payments Fintech Online 311

PYMNTS

JUNE 25, 2020

Or maybe they’re both as several types and sizes of retailers step up to sell non-medical face masks. The retail face mask efforts range from small to big companies. MaskClub is owned by Trevco, a licensing company with over 800 licensed brands. To date, MaskClub has donated 100,000 medical masks to first responders.

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Retail Guidelines Millennials Branding 257

PYMNTS

SEPTEMBER 4, 2020

But in other ways, it was business as usual, as the two biggest retailers in the world – Walmart and Amazon – posted stellar earnings numbers and competed in more muted ways for the U.S. percent of total consumer spending in Q2 (spanning all categories, including retail) and 9 percent of total retail spending. billion to $110.5

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PYMNTS

NOVEMBER 24, 2020

Businesses and financial institutions (FIs) are constantly examining ways to make their customers’ accounts more secure, especially as more consumers go online to make purchases and transact during the ongoing COVID-19 pandemic. California-based automaker Tesla is one company that has witnessed the merits of offering 2FA for its car owners.

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PYMNTS

JANUARY 25, 2021

The National Retail Federation ’s annual convention may have come and gone but the sentiments, strategies and lessons learned from facing nearly a year of pandemic-led changes by some of the world’s largest merchants are going nowhere fast — especially when it comes to their embrace of increased digitalization. We’re not a data company.

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PYMNTS

JANUARY 19, 2021

Corporate buyers are quickly shifting their purchasing habits online, and seeking more efficient experiences from product sourcing through to checkout. But this migration wasn't merely about digitizing what had previously been analog and manual sales and purchasing tactics for distributors, manufacturers and other B2B companies.

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PYMNTS

APRIL 10, 2020

In an effort to provide independent truck drivers and small fleets with discounts and access to a service network, The Goodyear Tire & Rubber Company will now provide carriers that belong to Convoy’s Digital Freight Network with access to its Commercial Total Solution.

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PYMNTS

NOVEMBER 17, 2020

The company plans to offer up to 25.3 16), Pinduoduo said it will use the money “to invest in agricultural logistics infrastructure and responsive manufacturing as consumer behavioral changes accelerate the online migration of retail.”. Last week, the company reported a third-quarter net loss of $115.6

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PYMNTS

JANUARY 21, 2021

Plenty of famous retail chains have collapsed both before and during a pandemic that has slammed brick-and-mortar stores, but some iconic names like Pier 1 , Barneys New York and others are coming back – at least in some fashion. Other well-known brands have died in the physical world, but reopened under new owners as online-only storefronts.

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PYMNTS

DECEMBER 16, 2020

Digital sports entertainment and gaming industry platform DraftKings — known for its top-rated daily fantasy sports and mobile sports betting apps — today announced an agreement with InComm Payments , a global leading payments technology company, to launch an industry-first retail gift card. . DraftKings reported on Friday (Nov.

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PYMNTS

NOVEMBER 30, 2020

However, online sales bounced up 21.6 But most of the changes that have come to retail as of the holiday 2020 shopping season aren’t temporary — and aren’t going to go backward. At the end of the day, I feel really good about the opportunities for retail,” Sadove said. “I The Long Holiday-Shopping Season .

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PYMNTS

DECEMBER 23, 2020

We’re all consumers of media, of content, of subscriptions — and we do it all online, which means we pay for it all online. Merchants can change on a dime, really, and go out and make an adjustment to how they're going to conduct eCommerce and accept payments either online or in the physical space," said Evans.

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Company Payments Online Fraud 274

PYMNTS

JULY 3, 2020

Retail CEOs faced a parade of problems in 2020’s first six months, but some executives look ready to set off plenty of fireworks in the year’s back half. . Here’s a July 4 th look at some top executives in retail who seem ready to declare their independence from business as usual in 2020’s final six months. . John Donahoe, CEO, Nike.

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Perficient

JANUARY 12, 2021

Consumers are looking for online buying processes that are easy and can provide opportunities to search, learn, and purchase products without and roadblocks, especially during COVID-19. Forrester noted that 53% of the US retail industry planned investment in AR in 2020 because they know it assists consumers in making purchase decisions.

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Customer Experience Branding Video Online 538

PYMNTS

JANUARY 26, 2021

In today’s top retail news, the U.S. The retailer said the move is part of a plan to execute a “store footprint optimization plan, including the contemplated exit of unprofitable locations.” L’Occitane said the case does not include its Europe-based parent company or any other of its subsidiaries. L’Occitane’s U.S.

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Retail US New Jersey New York 239

PYMNTS

NOVEMBER 19, 2020

Online retailer Farfetch is out to prove that the market for luxury merchandise fits fine with used goods. The eCommerce company is launching its Farfetch Second Life program in the U.S., The result, he said, is that companies "are seeing the value in product they have already sold.”.

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Retail Branding Marketing Online 227

PYMNTS

JULY 6, 2020

If your business touches retail in any way, it might pay to follow a few important breadcrumbs. Constellation, a holding company that owns popular beer, wine and spirits brands including Corona, says that 90 percent of its sales today come from physical establishments — bars, restaurants, liquor stores and hotels, to name a few.

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Retail Meeting Branding Maine 259

PYMNTS

JULY 30, 2020

By any metrics, the company’s earnings were off the charts, and they hardly came as a result of cost-cutting. The company almost doubled its revenue and profit numbers while spending more than $9 billion on capital improvement projects. Online grocery sales tripled. billion compared with $36.0 billion for Q2 2019.

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PYMNTS

DECEMBER 18, 2020

Digital trust-and-safety company Sift said that 2020 has been a “banner year” for online shopping sales, but that scammers have modified their approaches to take advantage of the boom, according to an announcement. Digital fraud is a longstanding issue for retailers and banks.

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Report Fraud Strategy Retail 333

PYMNTS

JANUARY 3, 2021

A surge in eCommerce returns driven by COVID-19-related policy changes is hurting retailers but helping logistics companies, the Financial Times reports. If retailers can't restock the item, they lose whatever they paid for it. As undesirable as accepting returns is, retailers are trapped, the Financial Times noted.

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US Retail Policies Online 271

PYMNTS

AUGUST 17, 2020

The Commerce Department released July’s retail sales last week, showing an increase in seasonally adjusted retail spending – up 1.2 Analysts reported that physical retail sales, seasonally adjusted, were up 2.7 And what we also see is only one part of the retail sales story. percent growth in June.

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Retail Branding Online Report 335

Bank Innovation

MARCH 2, 2020

New York time, the company posted a statement on the website […]. Robinhood Markets Inc.’s s brokerage website experienced technical issues Monday with some customers unable to make trades on a day when the market was rebounding from last week’s rout. A system-wide failure began as the U.S. markets opened and continued through midday.

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