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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. Let’s hope the discussion isn’t much too little and way too late, but is more about how to respond to retail’s COVID-19 wake-up call.

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eCommerce Takes Half Of Pandemic-Driven Retail Growth

PYMNTS

The dramatic consumer shift to Digital 3.0 — predicted months ago by the PYMNTS COVID-19 tracker work — is accounting for almost half of the retail growth in the US. It found that eCommerce growth as of May 1 was up 68 percent, surpassing 40 percent of total retail sales. Overall Chinese retail sales of consumer goods dropped 2.8

Retail 231
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Report: Social Commerce Market Reaches $89B

PYMNTS

Regardless of what happens with the sale of TikTok, social commerce could become a retail factor to reckon with in Q4, and is definitely ready for its close-up in 2021. In fact a new report puts the global market for social commerce at $89.4 billion this year and says it will reach $604.5 billion by 2027, growing at a CAGR of 31.4

Marketing 209
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Peloton, Connected Fitness Companies Chart New Course And Face New Problems

PYMNTS

The market is now flooded with smart bikes, smart mirrors, smart rowing machines and treadmills. Michael Campese, senior vice president of sales and marketing for Estes Forwarding Worldwide (EFW) , said his company is responding to big changes in its consumer base due to the pandemic, Freightwaves reports. “It

Course 211
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Virtual Reality: 5G Retailers’ Secret Sauce?

PYMNTS

Out of the haze of uncertainty emerged a new mobile network, and from the new mobile network came new retail applications and experiences, all taking advantage of the faster speed of the technology, and the potential to reduce friction. 5G Retail Deal. 5G Retail Deal. VR Retail Growth. A new report also says the U.S.

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Consumers’ Sentiment Slumps, eCommerce Fills Only Part Of ‘Retail Gap’

PYMNTS

Call it the retail gap that eCommerce can only partly fill. That gain, of course, reflects calm before the storm, so to speak, before the unemployment filings, the mass closures, the stimulus efforts and stock market roller coasters. That makes sense, of course, as at a minimum, 47,000 chain stores across the U.S.

Retail 205
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Were online customers more satisfied during the COVID-19 pandemic?

Perficient

The American Customer Satisfaction Index’s recent COVID-19 special retail study showed satisfaction declines across 75% of the retail companies. But the ASCI study showed a decline of almost 5% in customer sat for internet retailers versus just a 1.3% decline for Department & Discount stores.

Online 421