Chanel has reportedly seen a slowdown in the United States. The privately-held luxury brand’s sales growth in the U.S. has dipped from about 10% in 2022 to “in the single digits” this year, the Financial Times (FT) reported Thursday (May 25). “We had a softening in the U.S.,...
Procurement platform Sastrify has raised $32 million to help companies avoid overspending on software. The Series B round will help the company scale its teams in the United States and Europe and accelerate product development as Sastrify tries to tackle what it referred to as “sprawl” in the Software-as-a-Service...
Instant Cash has received a license from the Central Bank of the United Arab Emirates (CBUAE). With this Retail Payment Services and Card Scheme Regulation (RPSCS) Category 2 License, Instant Cash can build further trust with partners, broaden its scope of services within the money...
Consumers’ demand for more affordable quick meal solutions is sending them running to the freezer aisle, Dollar Tree CEO Rick Dreiling notes. On a call with analysts Thursday (May 25) discussing the retailer’s first quarter FY2023 financial results, Dreiling noted that the availability of frozen foods has had...
The global remittance market — where hundreds of billions of dollars flow across borders annually — is being reshaped by digital disruption. Late last year, the World Bank estimated that remittances last year grew by 5% in 2022, to $626 billion. Generally speaking, remittances are...
Pesto has raised $11 million and launched an asset-backed credit card. The Pesto Mastercard, which is the company’s first product, is available to customers who send valuables to be used as collateral and is designed to provide an alternative to pawn and payday loans, Pesto said in...
Marketing automation platform Klaviyo has launched an integration with Amazon’s Buy With Prime. The integration lets Klavio users “easily sync their Buy With Prime order and customer data with their Klaviyo account, giving them a more complete view of each customer,” according to a Thursday (May 25) press release. Businesses...
Digital-first and digital-only banks are gaining ground, but many consumers are hesitant to make the switch from a more traditional bank to a neobank. Unfamiliarity with neobanks plays a role, as does satisfaction with current — and typically traditional — banking models. That’s according to...
As Amazon succeeds at whittling away at incumbent grocers’ shares of center-aisle purchases, smaller retailers are drawing inspiration. According to a PYMNTS survey of nearly 2,700 U.S. consumers conducted last month, 61% of U.S. consumers are Amazon Prime members, and 26% are subscribed to Walmart+....
