Artificial Intelligence

When it comes to tech companies, millennials place their trust in a well-known e-commerce retailer. A nationwide survey commissioned by the Marketing Executives Networking Group reveals that more than half of millennials age 18-34 indicated they trusted Amazon more than any other major tech company.

Detroit’s fledging reputation as a Midwest Silicon Valley took took a big step forward with the news that Amazon is creating a tech hub in the Motor City.

“Michigan is a rapidly growing technology corridor and we’re eager to bring the incredible local Detroit talent to Amazon,” Peter Faricy, VP for Amazon Marketplace, told the Detroit. Free Press.

These are challenging times for the nation’s chief information officers — and speed is of the essence.

An annual survey of global CIOs found that digital innovation is actively causing disruption to business models, requiring IT leaders to move quickly to deliver new infrastructures, platforms and applications to meet customers’ fast-changing needs. An overwhelming two-thirds of all CIOs believe digital disruption is now a very significant change to business, according to the “Harvey Nash CIO Survey 2015,” done in association with KPMG.

Despite all the commotion surrounding the Oct. 1 deadline for U.S. retailers to accept EMV-compliant payment cards, the National Retail Federation (NRF) expects no drastic shifts to occur.

In this ever-changing, fast-paced world, it is no wonder that retail businesses must adapt to how consumers shop. With smartphones, online shopping and detailed comparison sites, shoppers are now more informed than ever about what they want. This evolution has impacted the role that retailers play in assisting consumers in their shopping experiences.

One of the best ways retailers can make both their financial data and store systems more secure is to reduce potential vulnerability by removing financial data from the store.

“Take any credit card data out of your store systems,” advised Perry Kramer, VP and practice lead for Boston Retail Partners. “Most retailers don’t know what’s on their systems or their risk profile. You need a good inventory. Some data you might keep.”

Despite the ongoing emphasis on energy conservation, many retailers still underestimate the benefits of energy-efficient products and systems. David Ely, of EDSS, told Chain Store Age that reducing energy and carbon emissions is only going to become more important as cities address energy at the local level and regulations become increasingly strict.

Videos just became more valuable to retailers. YouTube is releasing Shopping ads, a new advertising format that lets viewers click and buy products directly from videos.