Sales & Marketing

Los Angeles — Retail rents in the world’s most expensive markets will rise further in 2014 due to a shortage of available prime locations combined with a lack of new development, according to CBRE Group’s third quarter report on the world’s prime global retail markets.

Hong Kong (US$4,333 per sq. ft.) remains the world’s most expensive retail market by a substantial margin. Hong Kong houses the highest representation of luxury retailers among all global cities. With a healthy tourist market and a lack of available space.

Washington, D.C. -- The retail industry will lose an estimated $8.76 billion to return fraud this year, and $3.39 billion during the holiday season alone, according to the National Retail Federation’s 2013 Return Fraud Survey. Overall, 5.8% of holiday returns are fraudulent, up slightly from 4.6% last year.

In a move designed to accelerate adoption of RFID at the item level, Avery Dennison has signed a licensing agreement with Round Rock Research.

Los Angeles -- International payment and business development platform Payelp Global is partnering with mobile payment service Onebip, part of global mobile commerce group Neomobile.

Plano, Texas – Rent-A-Center plans to rebrand the kiosks it operates within third-party retail locations across the country.

Operating under the RAC Acceptance brand since being launched in 2006, the kiosks will transition to the AcceptanceNow brand. Existing kiosks, of which there are over 1,300, will convert in January 2014. Kiosks slated to open this month will immediately adopt the AcceptanceNow name.

The retail industry will lose an estimated $8.76 billion to return fraud this year, and $3.39 billion during the holiday season alone, according to the National Retail Federation’s 2013 Return Fraud Survey. Overall, 5.8% of holiday returns are fraudulent, up slightly from 4.6% last year.

New York -- Target is testing a section of its website that features products popular on Pinterest.

The Target Awesome Shop includes products from several lines, including beauty, each of which is among those most-pinned on Pinterest in the last few days. The products are mentioned only if they have at least a four-star guest review.

The website is currently in beta testing and was put together "in a matter of a few weeks" by Target's Rapid Accelerated Development team, a small group of digital experts working for the company.

Nashville, Tenn. – Genesco’s net earnings fell 34% to $27.7 million, from $42.1 million during the third quarter of fiscal 2013 for Genesco. The company also reported a slight increase in net sales, to $666.3 million from $664.4 million, during the same period.