Today in Retail: May Retail Sales Dip 0.3%; H&M Gets Q2 Boost in Foot Traffic

Today in retail, retail sales fall unexpectedly in May, while shoppers return to H&M stores. Plus, retailers fight fraud, Shopee cuts staff, Walmart teams with Miranda Lambert, and Clip Money and Staples partner.

Retail Sales Turn Negative, Reflect Broad-Based Consumer Caution

U.S. retail sales unexpectedly fell 0.3% in May from a downwardly revised 0.7% pace in April, extending a four-month slowdown and delivering the strongest proof yet that record-high fuel and food prices are cutting into consumer spending and confidence. According to the Census Bureau’s May report, if a 4% increase in sales at gas stations last month is backed out, retail sales declined 0.7%.

Shoppers Return to H&M Stores as COVID-19 Pandemic Fears Subside

The lifting of quarantines and other pandemic-related restrictions across Europe and around the world led shoppers to return to the brick-and-mortar locations of fashion retailer H&M, giving the company a bigger-than-expected sales boost for the second quarter of fiscal 2022 from March 1 to May 31. H&M’s net sales were up 17% year over year to 54.5 billion crowns (about $5.4 billion) in the quarter, still lower than 2019’s second quarter.

Retailers Counter Fraud With Digital Innovation — and a Bit of Kindness

Riskified Vice President Marina Moraes told PYMNTS the pandemic surge in eCommerce pushed consumers online, where they’re quite happy to shop — provided they feel protected from fraudsters and appreciated by merchants. Three core competencies are indispensable in locking in loyalty. Seamless and personalized experiences top the list, followed by convenience and speed.

Shopee Cuts Food Delivery, Online Payments Staff

Singapore-based eCommerce giant Shopee is trimming staff for its food delivery ShopeeFood and online payment ShopeePay teams in Southeast Asia. Shopee Group President Chris Feng said that “given elevated uncertainty in the broader economy, we believe that it is prudent to make certain difficult but important adjustments to enhance our operational efficiency and focus our resources.” The staff reductions will help Shopee optimize its operations in some segments and markets.

Walmart Boosts Home Furnishings With Miranda Lambert Deal

Walmart has inked an exclusive home collaboration pact with ACM Entertainer of the Year and three-time Grammy winner Miranda Lambert. Wanda June Home by Miranda Lambert is now available on Walmart.com and includes more than 80 kitchen, bar, tabletop and home décor items. It joins Beautiful by Drew Barrymore, Gap Home, The Home Edit, The Pioneer Woman, Queer Eye and My Texas House as some of Walmart’s recent additions.

Clip Money, Staples to Offer Business Cash Deposit

FinTech company Clip Money has partnered with Staples U.S. Retail, the office supply retailer’s branch focused on small business resources, to add cash deposit tech to Staples’ retail locations. The new offering, called Clip Boxes, will make it possible for businesses to make cash deposits directly into their existing bank accounts at Staples locations.

Affirm: Smart Data Provides Edge in BNPL Space

Affirm has an edge over competitors in the BNPL space, and its data analysis approach is key to its successful underwriting process. Using data, Affirm analyzes transactions beyond someone’s credit score and considers factors like the time of day and other seemingly small details to ascertain risk.