Data & Analytics

PayPal credits partnerships for its revenue increase during the fourth quarter, as well as throughout 2016.   The digital payments company reported a 17% jump in revenue to $2.981 billion for the fourth quarter ended December 31, 2016. During this timeframe, PayPal also added 5.4 million active customer accounts; and 1.8 billion payment transactions, an increase of 23%. The company also reported $99 billion in total payment volume (TPV), up 22%.  

Abercrombie & Fitch is in cost-cutting mode.     The teen apparel retailer has let go 150 employees at its headquarters in New Albany, Ohio, Columbus Business First reported.    The retailer said the layoffs were part of its “ongoing cost reduction initiatives,” according to the report.  

Fraud, cyber and security incidents escalated in 2016.   That’s according to the “Kroll Annual Global Fraud and Risk Report,” which surveyed executives worldwide across multiple industries and geographies. The study noted that 82% of the respondents experienced a fraud incident in the past year compared to 75% in 2015.  

A new acquisition by Alibaba positions the company to accelerate the accessibility of global financial services.   Ant Financial Services Group, Alibaba’s e-payment arm and the parent company of Alipay, is purchasing money transfer firm MoneyGram for approximately $880 million, according to Business Insider.   

EBay Inc. reported its fourth consecutive quarter of sales gains amid a successful holiday, which saw it run its first-ever U.S. television commercial.     The online marketplace said that sales for the fourth quarter rose 3% to $2.4 billion. Net income rose to $5.94 billion, fueled by a $4.6 billion income tax benefit.  

The omnichannel evolution has begun — and more retailers are adopting the business strategy to better meet shoppers’ needs.   That’s according to “Retail Insight: Moving Beyond Omnichannel,” a report from SPS Commerce and conducted by Retail Systems Research. The study, which is based on responses from more than 500 retailers, suppliers and logistics firms worldwide, said that more than 35% of retailers are on track with their omnichannel execution, up nearly 200% year-over-year.  

American consumers are ready to celebrate the Super Bowl, but they don’t plan on spending as much as they did last year.      Consumers will spend an average of $75 for a total of $14.1 billion as an estimated 188.5 million watch the Atlanta Falcons face the New England Patriots in Super Bowl LI on February 5, according to the National Retail Federation’s annual Super Bowl Spending Survey conducted by Prosper Insights & Analytics.  

Lululemon Athletica has opened a community-centric, European flagship on Regent Street in London. The two-level, 6,344-sq.-ft. store is the brand’s second largest in the world, second only to its New York flagship.    Designed by Dalziel & Pow, London, the new Lululemon combines the latest in technology with a locally-inspired design and community experiences. A palette of greys and marbles with hints of bronze help make for a soothing escape from the hustle and bustle of the city streets.    

Retailers executives are bullish on 2017.   That’s according to a survey from TD Bank, which polled 173 retail executives at the National Retail Federation’s annual Big Show in New York City. Seventy-four percent of the retailers said they believe sales will increase in the next 12 months. What’s more, 81% of the retailers reported that they met or exceeded their revenue goals in 2016.   In other key findings:  

J.C. Penney is shoring up its commitment to its new technology lab in Bangalore, India.   The chain has tapped Snehil Gambhir as VP and managing director of its global in-house center (GIC). Tasked with leading all operations at the company’s GIC, he will support and expand a variety of key business functions, including IT, digital, store operations, analytics, marketing, infrastructure and merchandise operations.