Samsung

What better place is there for global exposure than the Olympic Games?   At least, that is what Alibaba is counting on now that it struck a deal to become a top sponsor of the Olympic Games through 2028. The sponsorship, which is worth $800 million, pits the brand among giants like Coca Cola Co. and Samsung Electronics Co., according to Bloomberg.  

One technology provider is forgoing a traditional show floor exhibit to illustrate how innovation will drive the next-generation retail experience.   

Online apparel-rental company Rent the Runway continues its brick-and-mortar expansion with the opening of its biggest store to date, a tech-savvy, 4,000-sq.-ft. flagship in Manhattan.

The stylish space merges the retailer’s digital assets with physical elements to create a very personalized customer experience, one based on each customer’s unique needs and past interactions with the brand.

An end-to-end e-commerce solution now enables Rent-A-Center visitors to shop online from their desktop, laptop, or mobile device.   Rent-A-Center’s new platform enables guests to choose from more than 73 available products, primarily consumer electronics. The new solution also gives shoppers the option to complete an online form to obtain pre-approval to rent from within one of Rent-A-Center’s approximately 2,600 store locations.   

Best Buy Co.’s sales and profits in the third quarter topped forecasts, but the retailer warned that the recall of a Samsung smartphone is likely to impact its holiday sales.   Best Buy’s profit jumped 55% to $194 million, up from $125 million in the same period a year ago. Adjusted for one-time expenses, it earned 62 cents a share, which was higher than the 47 cents analysts were expecting.  

Regardless of when retailers start their sales, Black Friday weekend is shaping up to feature the biggest deals yet.   According to BlackFriday.fm, a website that tracks the best Black Friday deals, news, and ad scans, “the Black Friday and Cyber Monday sales are going to be bigger than ever this year, “ said Rene Kirschbaum, director of BlackFriday.fm.   Among the retailers to watch include:  

One year after launching, Samsung Pay is expanding the program’s reach and functionality.   Samsung Pay is now available in three new countries, including Malaysia, Russia and Thailand, which will make the mobile wallet accessible to consumers across 10 countries by the end of 2016.