News

Survey: Back-to-school spending increases — but not across the board
Parents are opening their wallets for the upcoming academic year, but being selective in what, where and how they buy.
EXTENDED OVERTIME REGULATIONS
How businesses should respond to the new rule

In May, the Department of Labor unveiled new overtime regulations. The biggest change — and the one that will impact retailers the most — is the nearly doubling of the salary threshold that entitles most salaried workers to overtime pay from $23,660 to $47,476, which is based upon the 40th percentile of the lowest-wage region, the South. The previous cutoff was set back in 2004.

Glitch affects Starbucks pricing

A computer error caused Starbucks to overcharge some customers and forced the coffee giant to disclose a planned price increase. In a brief statement released on the retailer’s corporate blog at about 8 p.m. ET Friday, July 1 and updated about 11 a.m. ET Saturday, July 2. Starbucks said a price adjustment was prematurely entered into the POS systems of U.S. company-owned stores. As a result, some customers were overcharged by as much as 30 cents for their beverages.
In-store technologies: Separating the ‘cool’ from the ‘creepy'

Smart mirrors are a ‘cool’ in-store technology, but facial recognition software is another story entirely. Those are among the findings of a new survey by RichRelevance, a provider of omnichannel personalization technology. The company surveyed more than 2,000 U.S. and U.K. consumers about how technology can impact their in-store shopping experience, highlighting the differences between what shoppers thought was ‘cool’ and ‘creepy’.
NRF: Consumers want swipe fee status quo

The people have spoken – and they like limits on debit card swipe fees the way they are.
A FRESH TAKE ON ‘RETAILTAINMENT’

Entertainment concepts are the future of retail fun

Retail has been the foundation of shopping centers throughout their existence, but new entertainment concepts are making inroads in traditional retail venues.

Even in mixed-use venues, it’s generally accepted that a critical mass of traditional retail is the highlight, and that other uses are complementary pieces, designed to drive traffic and support the retail component.
FOCUS ON AUTOMATIC DOOR SYSTEMS

From convenient access to reduced heating costs, automatic doors provide retailers with some key benefits.
ASSESSING IT

It’s important to look beyond the traditional hard metrics of ROI to determine the bottom line value of an IT solution. Here are five key areas CFOs need to consider when evaluating technology:

1. Sales growth: There are many types of applications that can drive increased sales, but some of the most common are solutions that optimize pricing, including markdowns. Determining the ideal price for maximizing sales without cutting profits at a store level is too complex for merchants to do on their own.
THAT’S ENTERTAINMENT!

The South has an abundance of entertainment developments popping up, possibly more than anywhere else in the country, thanks to its climate and land availability. The milder climate enables developers to incorporate more outdoor elements like amphitheaters, children’s play areas, trail systems and concepts such as Topgolf, as well as experiences like free yoga or movies being displayed in gathering spaces.
TODAY’S CONSUMER IS SMARTER— IS YOUR BOARD?

Today, when it comes to adding new members to your board of directors, creating a balance between industry experience and innovation is extraordinarily important. Filling board seats with industry veterans and compliance experts may feel comfortable in the short term, but to adapt to today’s savvy and demanding consumer, companies must be more forward thinking.

We’ve all witnessed the recent evolution of the C-suite — companies bringing in new, young talent, often from other industries, to modernize a brand, enhance the store experience or to leverage technology.