Emerging Trends In Retail, Payment Methods And Open Banking

By  |  March 31, 2021
 | 
Lord & Taylor App

A much slimmer version of JCPenney is aiming to put itself on an even keel months after it emerged from bankruptcy, while the new owner of Lord & Taylor is reportedly close to reintroducing a streamlined and digital-only version of its store. In payment methods, buy now, pay later (BNPL) appears to have particular sway among younger U.S. shoppers and has attracted consumers around the world. And in finance, open banking provides new opportunities for small to mid-sized businesses (SMBs) to grow across borders. All this, Today in Data.

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    Data:

    $800M: Price that two mall landlords paid in cash and debt for JCPenney.

    60%: Share of the U.K. population projected to be using open banking by the end of 2023.

    $43B: Projected value of the global open banking market in the next five years.

    26%: Share of millennials who have used BNPL options online in February.

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    $12M: Amount for which Manhattan-based Saadia Group acquired Lord & Taylor in October.


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