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Digital-First Economy Redefines Retail And Consumer Behavior

PYMNTS

When it’s said and done there was only one story that mattered in the retail universe this year and it was the rise of the digital-first economy. They and others have succeeded because they entered the market independent of traditional retail, and because their business model fit the needs of the pandemic.

Retail 295
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Today In Retail News: Philadelphia Mall Reopens, Ralph Lauren Cuts Workforce

PYMNTS

In today’s top retail news, Philadelphia Real Estate Trust reopens its newest property, Ralph Lauren cuts its workforce and Mall of America offers space to local businesses. The transformation plan, according to the company, aims to attract younger consumers, drive targeted expansion, lead with digital and operate more efficiently.

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60% of U.S. Bank Transactions Are Digital, COO Says

Bank Innovation

Bank’s transactions are now 60% digital, Chief Operating Officer Andrew Cecere said at the Goldman Sachs U.S. But that doesn’t mean the Minneapolis-based bank is giving up on branches. Financial Services Conference this week. It has around 3,000 branches and 80% of its sales activity still takes place there Read More.

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Pop-Up Shops Fit Trend Toward Smaller Retail Spaces

PYMNTS

Retailers are looking to do more in smaller spaces, a trend that seems ready to increase during the holiday shopping season and beyond. Among the latest examples of that comes from kids’ eyewear retailer Fitz Frames , which offers face measurements via its mobile app, and a subscription commerce plan for consumers.

Trends 121
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Buy Now Pay Later Startup Sezzle Tops 1M Active Customers

PYMNTS

Founded in 2016 and headquartered in Minneapolis, Sezzle’s buy now, pay later (BNPL) payments platform is in the U.S. “One million active users is a huge operational achievement, and a testament to the value our users see in our product. Digital payments FinTech startup Sezzle announced on Monday (Feb.

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More Retailers Are Checking Into Hotels In Search Of Innovation

PYMNTS

Part of the future of retail is playing out inside hotels — and that’s happening as the wider part of the travel-and-tourism industry is undergoing its own significant disruption. One of the latest — and perhaps wildest — examples of the hotel-retail trend comes from Taco Bell, of all places. Unattended Retail. Deeper Trend.

Retail 116
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Retail Malls Look For New Innovations, Commerce And Otherwise

PYMNTS

What to do with retail malls? That is among the latest trends as retail reinvents itself, and technology and other trends force new uses for old commerce spaces. Mall of America is teaming up with University of Minnesota physicians and a Minnesota-based health care system to operate the clinic.”. Mall Leases. New Investment.

Retail 108