Officially it’s called Retail’s Big Show, but NRF 2023 was also about Retail’s Big Tech. As in, the retail industry’s increasing embrace of Big Tech and the scores of artificial intelligence (AI) solutions being showcased at the just-wrapped annual National Retail Federation convention in New...
U.S. retail sales fell for a second month in December as slumping department store receipts saw the key economic benchmark post its weakest tally in a year. Officially, the Census Bureau report released Wednesday (Jan. 18) showed a 1.1% decline from the previous month, which...
Grocers are noticing that, to win shoppers’ loyalty, they have to offer self-service checkout options. The Context Grocers continue to add self-checkout capabilities. Last month, grocery chain Weis Markets, which operates about 200 stores across seven East Coast states, announced that it was implementing Toshiba Global...
LVMH’s share price rose to over 800 euros on Tuesday (Jan. 17). The fashion and luxury goods group, which is listed on the Euronext Paris exchange, briefly traded at over 800 euros (roughly $863) a share, boosting the company’s market capitalization to 400 billion euros...
With new brick-and-mortar and digital competition, convenience stores can no longer afford outdatedness or grunginess. The number of convenience stores is rising in the United States, as the National Association of Convenience Stores (NACS) noted this week in its 2023 NACS/Nielsen Convenience Industry Store Count report. The...
Clik2pay now enables Shopify online merchants to accept payments directly from Canadian customers’ bank accounts. This direct-from-account payment option gives Canadian consumers the choice of using a payment method other than a credit card and enables online merchants to expand their customer base, reduce payment...
All-in-one super apps represent a major step in frictionless retail and payment experiences, with appeal among high-spending age groups. The idea of a single app to integrate payments, banking, messaging, mobility and more finds a parade of hopefuls ranging from Microsoft to Twitter working on...
Fashion brand SYKY has raised $9.5 million for its bid to build a blockchain-based luxury platform. “Fashion is on the verge of a renaissance, powered by technology and the next generation of creators,” Alice Delahunt, a former Ralph Lauren executive and SYKY’s founder and CEO, said in a news...
With its shares down 95% in two years, personal fashion subscription service Stitch Fix has become a cautionary tale of trial and error, The Wall Street Journal (WSJ) reported Tuesday (Jan. 17). The company’s experience holds key lessons for other tech companies looking to recapture...
