Data & Analytics

Store closures, layoffs and shifting consumer preferences weighed down Macy’s bottom line, negatively impacting its fourth quarter earnings. And the retailer doesn’t see its slump ending in the near future.    Macy's net income fell to $475 million in the quarter ended Jan. 28, compared with $544 million in the year-ago period. Adjusted earnings per share came to $2.02, better than analysts had expected. Analysts had expected $1.95 per share for the quarter, according to FactSet.  

In a move that could attract more tech start-ups, New York City will be the home to one of the newest innovation labs.   The 250,000-sq.-ft. “Union Square Tech Hub,” which was announced in December, will include 58,000 sq. ft. of “fluid space” for startups, and a 36,500 sq.-ft. tech training center, reported TechCrunch.   

Exceptional customer service is key to driving long-term customer loyalty — and once again, B&H Photo Video, The Home Depot and Zappos are blazing the path.     For the second year in a row, these three heavy hitters topped the 20th Annual Mystery Shopping Study. The report from Astound Commerce recognized retailers who excel in customer service through an assessment of “must-have” website features and behavior based on engagement with available touchpoints.  

When it comes to shopping for groceries, millennials are apparently no fan of supermarkets.   Nearly two-thirds of millennials shop online weekly for groceries, and this demographic has the potential to transform the retail grocery business, according to new research released by Clavis Insight.  

DWM Facilities Maintenance has opened a new office in Orlando, Florida. The new office will help facilitate the company’s recent growth.   

IBM is taking the next step in its IoT journey.   The technology provider has opened the doors of its new $200 million global headquarters for its Watson Internet of Things (IoT) business in Munich, Germany. The space will also serve as an innovation space for the European IoT standards organization, EEBus.   "We have reached a tipping point with IoT innovation,” said Harriet Green, general manager, IBM Watson IoT, cognitive engagement and education.   

Shoptalk, the “nextgen commerce event,” is still accepting applications for a new initiative that connects retailers and brands with technology companies — and provides complimentary tickets and travel reimbursement to the event.    Shoptalk will accept applications for its new “Hosted Retailers & Brands Program” until midnight on Friday, Feb. 17. More than 100 retailers and brands have already been accepted into the program. (Shoptalk will be held March 19-22, 2017, at the Aria in Las Vegas.)

Google Home is giving Amazon’s Echo a run for its (shopping) money.   On Thursday, Google announced that shoppers can use Google Home to order everyday basics from Google Express retailers, including Costco, Whole Foods Market, Walgreens, PetSmart, Bed Bath & Beyond and others, reported GeekWire.