Artificial Intelligence

An emerging consumer demographic is showing strong support for an emerging trend in transactions.

A new GfK study of 1,000 U.S. consumers shows that Generation Z (ages 18 to 24) is twice as likely to make a mobile payment as the total population. Smartphones, tablets, and other mobile devices account for just 3% of all transactions in the U.S. – but 7% among Gen Z.

Imagine if the type of products consumers normally buy at the last minute represented your product assortment.

For Rocky Mountain Chocolate Factory Canada, a Vancouver, British Columbia-based specialty vertical candy retailer with about 68 Canadian stores, this is the reality of the store environment.

A diversified service offering that includes interior and exterior signage, lighting, specialty contracting and facilities maintenance gives ImageOne Industries an up-close look at the evolving retail scene. Chain Store Age spoke with ImageOne Industries president Jim Mikula about some of the trends the company is seeing.

What trends are you seeing in retail signage and graphics?

January is a tech bonanza for retail, with interesting, innovative and sometimes downright out-there new technologies and brands on display at the Consumer Electronics Show in Las Vegas and the National Retail Federation’s Big Show in New York City. It’s nearly impossible to keep track of every startup out there, but here’s a selection of the most promising ventures that should be on your radar.

Reemo

Following a successful pilot of authenticating mobile transactions with facial photos and fingerprint biometrics in 2015, MasterCard is bringing the new technology mainstream.

Dubbed “selfie pay” and initially tested with employees of First Tech Federal Union in summer and fall 2015, the solution is delivered via a special MasterCard app that lets customers take a photo each time they make an online purchase. They are required to blink during the photo to prove it is being taken live.

Irvine, California-based specialty Western and workwear retailer Boot Barn is laying down the law.

MasterCard and Visa are both intent on letting customers pay anyway, anyhow anywhere they choose.

Both of the major financial services providers are releasing new Internet of Things (IoT)- and mobile-enabled payment solutions that will allow consumers to shop from an increasing number of locations, using a variety of touchpoints, with greater security.

Retailing Today's sister publication Chain Store Age recently spoke with Vishwa Chandra, VP of retail accounts for Instacart, to get a better sense of the current and future state of online delivery.
 
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