Data & Analytics

After a 16% increase in e-commerce sales in 2014, another 14% increase is projected this year, in turn driving greater customer expectations.* Today’s shopper is more connected than ever before, which means they have more information and can turn to any number of retailers for the products they want. The bottom line is if they don’t have the experience they desire, they will go elsewhere, especially during the holiday shopping frenzy.

There’s no time like face time. Whether closing a multi-million dollar business deal or selling discount apparel, nothing moves the needle like human engagement. And although modern POS solutions have been revolutionary in integrating inventory, customer data, omnichannel sales, and a slew of other retail success factors, large cash-wraps have driven a physical wedge between merchant and customer.

As of Oct. 1, retailers who do not comply with the Europay, Mastercard, Visa (EMV) security standard that relies on embedded chips in payment cards face a shift in card fraud liability. Many EMV issues have not yet been resolved. Here are three big ones:

Swipe left out
Retailers have been warned repeatedly that if they do not implement EMV-compliant POS terminals, they will bear liability for any fraud resulting from an EMV card transaction.

A new marketplace has launched with the goal of helping retailers and suppliers keep up with the blistering pace of innovation that is transforming their world.

Between new formats, e-commerce efforts and supply chain initiatives, interesting times are ahead for Bed Bath & Beyond – even if second quarter sales were weak and profits declined.

E-commerce sales surged at Pier 1 Imports during the second quarter, but the retailers overall sales grew less than expected and the company lowered its full year outlook.

Total sales increased 2.7% to $430 million and same-store sales increased 2.5%. Excluding the effects of the stronger U.S. dollar, total sales increased 4% and same-store sales increased 3.8%.

All manner of store operational processes will soon be under review at Target following the appointment of a new executive whose role is to simplify, optimize and make the retailer more agile.

IBM aims to increase the solutions and services it offers the retail industry with two new centers. On Sept. 24, IBM opened a new global headquarters for IBM Commerce and new hub for its Watson artificial intelligence platform in San Francisco.

In addition, IBM is partnering with The Fung Group on a new large-scale laboratory for rapid experimentation with omnichannel retail technologies, which opened in Shanghai, China on Sept. 24.

There may not be a return of the annual “Running of the Brides” sales event, but a legendary discount retailer is back in business. Filene’s Basement has launched an e-commerce site that combines its traditional bargains with new omnichannel features.

Consumers are taking an increasingly varied path to purchase for tech accessories. According to the Second Annual Accessories at Retail study from the Consumer Electronic Association (CEA), almost two-thirds of U.S. consumers (62%) and more than three-quarters of millennials (77%) now go online via computer or mobile device to learn about tech accessories before making a purchase decision.

However, fewer U.S. consumers are making their final purchases online using a computer (30%) or mobile (7%).