Data & Analytics

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%).

For specialty men’s apparel retailer Knot Standard Inc., custom fit is everything.

The New York-based omnichannel retailer, with seven showroom stores in the U.S. and Dubai, as well as a global e-commerce business, tailors clothing to its customers’ dimensions. This customized approach also fits its IT strategy.

“We built all our systems from scratch using PhP [development language],” explained Matthew Mueller, CEO and co-founder of Knot Standard. “There is no off-the-shelf technology.”

Retailers always take a gamble when targeting promotions, and The Limited is doing its best to improve the odds. The specialty apparel retailer is using the First Insight InsightTargeting predictive analytics solution to determine which products and prices will appeal most among specific customer segments.

InsightTargeting combines data from First Insight's real-time consumer engagements with behavioral data from CRM and social media platforms.