Data & Analytics

Home furnishings giant enters ‘gig economy’ with acquisition
Ikea Group has entered the booming market for on-demand services. The home furnishings giant is acquiring TaskRabbit, an on-demand services platform company that connects customers with workers, called "taskers," that handle everyday needs such as furniture assembly, moving and packing, general handyman repairs, and home improvements. The price of the transaction was not revealed.
Study: Cash is still king for U.S. consumers
Despite the rise of electronic, mobile and contactless payments, physical currency remains a favored choice for consumers in the United States. This was according to “In Cash Consumers Trust. But How Do Retailers Make it Pay?,” a report from cash technology solutions provider Glory. The study is based on responses from 1,500 consumers in the U.S., U.K. and Australia.

Report: Restaurant chain is latest data breach victim

Sonic has been targeted in a cyber-attack. The restaurant chain, which is known for drive-up ordering kiosks and roller skating waitresses, has confirmed it has suffered a data security breach. Specifically, the incident has jeopardized the security of credit cards from up to 5 million customers, according to KrebsOnSecurity, which first broke the news.
Survey: Most shoppers will visit stores this holiday season

Unfazed by store closures, shoppers plan to get most of their holiday shopping done in-store this year. Nearly three-quarters of consumers (71%) plan to do the majority of their holiday shopping in physical stores — the same percentage from a similar poll a year ago. Additionally, the vast majority (88%) plan to at least visit stores this holiday season.
Study: Online retailers at risk of losing $2.1 billion this holiday season

More unauthorized product ads are hijacking the consumer experience — an issue that will cost retailers precious revenue this holiday season. As unauthorized product ads are injected into consumer browsers — and appear on retailer sites — consumers are distracted from the retailer’s offerings. This disruption – known as online journey hijacking – cuts directly into retailers’ revenue, an issue that could cost companies $2.1 billion this holiday season.
Macy’s revamps loyalty program

Macy's is overhauling its loyalty program, putting a new focus on its best customers. The department store retailer is revamping its Star Rewards program with a tiered rewards system that gives its very best shoppers (those who spend $1,200 or more annually) such perks as free shipping, additional savings and earned points on every purchase.
CVS Pharmacy in big Times Square debut

CVS Pharmacy has brought its new store format to the "crossroads of the world."
DSW going back to its roots for store of the future
Amazon doubles down on Echo—and then some

Amazon's Echo is in expansion mode just in time for the holiday rush. The online giant on Wednesday announced five new Echo products, along with several other new gadgets. And none of the items cost more than$150, TechCrunch reported. The new items include Echo Plus, which will do double duty by also serving as a hub for smart home devices.
Pier I loss widens in Q2

Pier 1 Imports Inc. reported a wider-than-expected loss in its second quarter and forecast a smaller per-share profit for the year that analysts had expected. Pier 1 lost $7.8 million, or 10 cents a share, compared with a loss of $4 million, or 5 cents a share, in the year-ago quarter. Adjusted for one-time items, the company reported a loss of 5 cents a share in the quarter.
Kohl's CEO to retire in May; successor named

Kevin Mansell, chairman, CEO and president of Kohl's, will retire in May 2018 at the end of the company’s annual shareholders meeting. The 35-year Kohl's veteran has served as its chief executive for nearly 10 years.
American Eagle Outfitters in new loyalty offerings

American Eagle Outfitters has gone omnichannel with its loyalty program. The teen apparel retailer announced the launch of AEO Connected, a highly digitized loyalty program for its American Eagle and Aerie customers. Over 16 million current rewards members were immediately converted to AEO Connected.