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In today’s top retail news, Amazon Go stores in Seattle are reportedly being equipped with Amazon One palm-reading scanners, while automotive brands are taking control of digital purchasing platforms. Plus, fashion-based small and medium-sized businesses (SMBs) are getting a new marketplace option. Amazon Expands Palm Biometrics In Seattle .
The retail bankruptcy watch intensified Tuesday (April 21) as the department store sector was hit by reports of yet another major player looking at that option. Lord & Taylor, now joining Neiman Marcus, is considering a bankruptcy filing as the COVID-19 lockdown continues to decimate non-essential retail. billion in sales.
In today’s top retail news, Bed Bath & Beyond said it has finished its sale of Cost Plus World Market (CPWM) to a private equity firm, while Starbucks will help Washington state with the distribution of coronavirus vaccines. Starbucks To Assist Washington State With COVID-19 Vaccine Distribution. Bed Bath & Beyond Inc.
Consumers are showing little interest in returning to in-store shopping six months into the pandemic, leading retailers around the globe to double down on their digital capabilities to convert these new digital-first shoppers.
Don’t look now, but virtual reality and augmented reality are starting to make bigger gains in the retail world. The spread of VR and AR technology is not confined to physical retailers, either — eCommerce giants are getting into the game as well. billion via retail and marketing in 2022. Larger Trends.
WaFd, formerly Washington Federal Bank, is offering interest-free lines of credit of up to $200,000 to small businesses as a result of the pandemic. As the novel coronavirus continues to spread, rattling the economy, banks are reevaluating their business propositions to clients.?
State regulators such as those in California, New York and Washington also recently passed rules just before the outbreak, with California regulators in particular still discussing potential changes to its California Consumer Privacy Act (CCPA). The potential reach and creation of such an agency is still currently being debated.
Federal workers, through partnerships with several online retailers, will now be able to purchase equipment like desks or office supplies through an eCommerce network for the first time, The Washington Post reports. Leaders at Overstock said the new GSA initiative would help them with their retail operation.
Up until then, retail levels were improving somewhat since the all-time low in April while the country was on lockdown. But customers have begun retreating from retail for the second time due to the increase in cases. The other 37, plus Washington D.C., The spikes in cases have been particularly noteworthy in Florida and Texas.
For retailers, it’s better to be hot in 2020 than top. The National Retail Federation (NRF) said on its blog this week that the Hot 100 Retailers, while vulnerable to mergers and acquisitions, as a group is more stable than the Top 100 Retailers ranking, as stores are impacted by the unpredictability of COVID-19.
retail and economic recovery is still facing serious headwinds. retail sales, which exceeded forecasts in June. Retail spending increased 7.5 What was not clear was the effect stimulus funds made on retail spend. But the May and June spikes returned retail sales levels to pre-pandemic numbers. percent hit.
Foxtrot , a small company out of Chicago, is reinventing convenience store retail and taking it uptown. The retailer features gifts as well as standard convenience store necessities, and shoppers can also order products through its app or eCommerce site to be delivered within an hour. 2: Number of Washington, D.C.
Retail industry trade leadership likes what it sees from Washington so far. Since the first appearance of COVID-19, retailers and their employees have been working diligently to ensure customers have the goods and services they need during this pandemic,” said RILA Senior VP of public affairs Michael Hanson in an official statement.
The parameters around how consumer financial information should be shared with third-party apps and platforms was the subject of debate at an industry forum organized by the Consumer Financial Protection Bureau in Washington, D.C., on Wednesday.
UPS , too, is going down the drone path – one that Amazon pioneered for retail delivery uses – and is seeking a certification to operate commercial drone flights. Over the last few months, Amazon Scout has delivered thousands of smiles to customers just outside of Amazon’s headquarters in Washington state.
could force retailers and restaurants in a number of states to accept cash as a payment method. Meanwhile, the paper reported New York City, Washington, San Francisco and Chicago are looking at similar legislation. Meanwhile, the paper reported New York City, Washington, San Francisco and Chicago are looking at similar legislation.
In one case, real estate investment trust (REIT) Macerich is bringing a concept called BrandBox to its Tysons Corner Center mall in a Washington, D.C. The space can appeal to digital native brands that might want to dip their toes into the world of brick-and-mortar retail. Mall Owners Get Flexible With Spaces.
As retailers reopen and take stock of new post-pandemic consumer dynamics, the role of industry trade groups is changing. Groups like the National Retail Federation (NRF) focused more on economic forecasts and supply chain issues as other advocacy groups that have taken the fight for more stimulus dollars to Washington, D.C.
Payments company Square has partnered with the Washington Nationals and Levy Restaurants to let fans order concession menu items right from their seats, according to reports. Fans can use the Square-owned Caviar app and the Square POS terminal to order everything from food to beer and wine while enjoying the game from the stands.
The forces closing in on retail have forced its various trade and advocacy groups to press their case in Washington. According to The Washington Post , even routine finance issues have become risky. While the AAFA is taking its concerns to the government, the National Retail Federation (NRF) has expressed cautious optimism.
To learn more about their customers and increase foot traffic, retailers are testing out new business ideas. In some cases, retailers are dedicating small spaces to brands inside their brick-and-mortar stores. The vast majority of retailers believe in trying new business approaches.
Trends in legal cannabis retail are just now emerging, and fresh numbers from Colorado are providing insight into how the industry is evolving. Other figures also point to how much consumers are spending on legal retail pot. Legal retail cannabis may be spreading throughout the U.S., Companies also have made more than $6.5
There’s $454 billion earmarked for retailers in the vast series of COVID-19 relief legislation passed last week. But none of it will arrive in time for the April rent and lease deadline staring retailers right in the bank account come Wednesday. And if it’s any consolation, retail rents will almost certainly drop in the short term.
billion for Whole Foods , the online retail giant is planning to open its second automated-checkout grocery store in Seattle’s Eastside neighborhood and is hiring managers for a third store in the city’s Capitol Hill district, The Seattle Times reported. Amazon must like the supermarket business. Three years after it paid $13.4
a blockchain loyalty system, and Korean luxury retail chain Shinsegae Duty Free have joined forces to allow rewards points to be managed on the blockchain, Cointelegraph reported. .” He provided remittances, stablecoins and some tokens as scenarios in which digital currency upstarts might appear more akin to banking services.
It was supposed to be a thriving retail center in Milwaukee when it was built seven years ago. It’s one approach to a growing retail vacancy issue that local governments are getting more aggressive in trying to solve. The most high-profile local interventions have happened Washington, D.C. But it never happened. Starting Jan.
With the most recent COVID-19 studies from PYMNTS reinforcing the need for health and safety in the retail world, some retailers are stepping up to accommodate consumers’ concerns. channel performance at Washington, D.C.-based Ipsos surveyed consumers and conducted mystery shopper visits at 45 of the top retailers.
California Consumer Privacy Act (CCPA), Washington Privacy Act (WPA) and other new privacy and online transaction standards are changing how businesses interact with consumers’ data in the U.S. states are starting to implement new standards, too, with the CCPA introduced two months ago and WPA on the path to ratification in Washington.
They say the perfect crime is hard to commit, but last week in Spokane, Washington an intrepid burglar managed to pull it off at the Yuppy Puppy pet store, according to local law enforcement officials. What makes the story stand out among the reams of local retail crime reporting is that the crime was actually committed.
In today’s top retail news, CarLotz, Inc. Plus, retail rents have fallen to historic lows in the Big Apple amid the coronavirus pandemic. The firm will expand into the Seattle–Lynnwood, Washington market and will also provide a hub for the Orlando–Merritt Island, Florida area. Retail Rents Plummet In NYC As Vacancies Rise.
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.
At an industry forum in Washington, D.C., Fintechs, aggregators and banks may agree on data sharing, but accountability should be equally assigned to all parties, according to JPMorgan Chase. Natalie Williams, general counsel for responsible banking and data at Chase, said each party should be held to the same standards as banks.
Washington D.C.-based Walmart, the nation’s largest retailer, will utilize robots from Brain Corp., which specializes in offering floor-cleaning robots to retailers already. Walmart, the nation’s largest retailer, will utilize robots from Brain Corp., Walmart will use the robots in 1,860 of its 4,700 U.S.
Legal marijuana may have a massive payments problem, but that’s not stopping retail innovation in perhaps the newest area of legitimate commerce in the U.S. Trends in legal cannabis retail are just now emerging, and fresh numbers from Colorado are providing insight into how the industry is evolving. Big Retail. and Canada.
Brick-and-mortar fashion retailers are developing in-store experiences to encourage customer loyalty. markets, aiming to generate repeat visits as part of its experiential retail efforts. With the expanded partnership, the companies will bring the offering to brick-and-mortar stores in Washington, D.C.;
And groups such as LVMH are also investing in retail ventures. From acquisitions to new or revamped brick-and-mortar stores, beauty, as well as cosmetic brands, are taking steps to evolve their retail operations. Glossier is opening temporary shops in Nordstrom stores, including the retailer’s New York flagship.
This year, apps aimed to make it easier and more convenient for consumers to order their favorite foods and sundries, with restaurants and other retailers tapping into delivery. To help bring these options to more consumers, retailers and technology companies decided to join forces. and Chicago.
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.
Case in point, Stockwell: a self-service retail venture that got off on a very wrong foot with customers by, among other things, choosing the wrong name. The Washington Post branded Bodega the most hated startup in America. When Stockwell launched in September of 2017, it went by a different name: Bodega.
New Jersey joins Washington, Illinois and other states and regions in introducing data privacy laws. On March 21, retailers doing business in New York State will be faced with a new law regarding data security. Retailers of all sizes will be forced to prepare for new, stricter regulations.
The ruling meant that online retailers could be mandated to collect sales tax — and taxes can be levied by states on firms that do not have physical presence in those states. One consideration is the fact that economic presence within a state means that retailers have to collect and remit taxes in those states.
A team of 50 students from Schulich’s MBA, Master’s and undergraduate programs worked on the service, which will be integrated with Canada’s Digital Main Street program as well as common digital retailers like Shopify , Google, Facebook, Microsoft, eBay and Mastercard Canada.
With the retail industry sliding into Mother’s Day in just a week, the return issue is bound to raise its head. Some stats around the issue show just how substantial it is for retailers. And if a retailer charges too much (or charges at all) 57 percent of millennials will bail on future business. Now add a pandemic.
District Court in Seattle, alleges Washington-based Robojap Technologies and Quatic Software Solutions in Punjab, India have scammed Amazon users by offering help to install Alexa on their devices through fake websites and applications. The lawsuit, filed last week in U.S.
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