Research Topic

Mobile wallet usage in the United States remains small, and shows no signs of increasing anytime soon.   This was according to “PYMNTS/InfoScout Mobile Payment Adoption,” a new report from PYMNTS.com. The survey, which was conducted in March 2017 among more than 7,655 consumers, said less than one in 20 consumers who have one of the main mobile wallets (Apple Pay, Sam-sung Pay, and Android Pay) use it regularly.   

After solid start to the year, retail is now back in softer growth territory. While the 2.1% rate of overall expansion is not disastrous, it is much lower than the past few quarters and is largely the result of higher gas prices which buoyed sales at gas stations by 15.8%. The pure retail number is more concerning, with the 0.8% increase being the slowest growth recorded since February 2013.  

The delay of tax refunds helped keep consumer spending in check on February.   Retail sales in February inched up 0.2% seasonally adjusted over January, according to the National Retail Federation. (The NRF numbers exclude automobiles, gasoline stations and restaurants.)   The industry’s performance in February was mixed. Electronics and appliance stores took the biggest hit, with sales falling 2.8% over the previous month.   

Disappointing shopping experiences are costing brick-and-mortar retailers serious money.   That’s according to the recent TimeTrade State of Retail 2017 survey, whose results suggest that U.S. retail stores left about $150 billion in potential revenue on the table in 2016 by failing to offer shoppers the personalized shopping experiences they want.     

The Retail Industry Leaders Association (RILA) and Accenture on Monday announced the launch of a new initiative that will explore the impact that technologies such as artificial intelligence and virtual reality will have on the retail industry.   RILA’s new (R)Tech Center for Innovation will also help retailers create innovative ways of doing business.  

An online giant and the world’s biggest retailer claim the top two positions in a study that ranks retail companies by their brand value.   Amazon ranked as the world’s most valuable retail brand in the annual study by valuation and strategy consultancy Brand Finance. The company’s brand value, $106.4 billion, is nearly double that of Walmart ($62.2 billion), which ranked as the second most valuable retail brand. (An explanation of the ranking is provided at the end of article.)    

Generation Z is called the mobile-first generation. However, their preference for shopping in physical stores presents new opportunities for retailers.   That’s according to a new report from Euclid Analytics, “Evolution of Retail, 2017 Generation Z Shopper Survey,” which found that 66% of Gen Z prefer to shop in store because they like to see, hold and try on products before buying. Also, 28% want to engage with store associates while shopping, the most of any generation.  

More luxury stores opened in London in 2016 than any other city in the world.   The British capital topped the global ranking for new luxury retail store openings in 2016, according to Savills Global Luxury Retail report.    The city saw a total of 41 luxury store openings during the year, (of which 15 were the respective brand’s first ever store in London), followed by Paris, with 36 openings, and New York, with 31. Rounding out the top five were Dubai (31), Hong Kong (25) and Milan (24).