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Tech Bytes: Three Reasons Everyone Wants In on Mobile Payment
It’s not your imagination – a lot of new players are entering the mobile payment market. In the past few months, entities including Google, Samsung, Capital One, and J.P. Morgan Chase & Co have launched or announced plans to launch new mobile payment solutions. And retailer-backed Merchant Customer Exchange (MCX) expanded trials of its CurrentC mobile payment app this summer. Retailers like Starbucks are bypassing the middleman entirely and offering mobile payment from their own proprietary e-commerce apps.
That's a lot of coffee: Starbucks sales set to break $20 billion in 2016; more expansion on tap
Buoyed by the launch of new menu offerings and increases in store traffic, Starbucks Corp. brewed up another strong quarter, with revenue and profits meeting Wall Street expectations. The coffee giant also continues to set a torrid pace for store expansion.

Starbucks intends to open 1,800 new stores globally during fiscal 2016, with licensing driving a large portion of the growth. This includes 700 stores in the Americas (half licensed), 900 in China/Asia-Pacific (two-thirds licensed), and 200 primarily licensed stores in Europe/Middle East/Africa (EMEA).

Jordan’s Furniture’s new store will put customers on the roaps—literally

Jordan’s Furniture, known for its larger-than-life stores that combine retail with all manner of entertainment, is outdoing itself in its next location.

The retailer is building a 192,500 sq.-ft. store in New Haven, Connecticut—its first in the state—that will feature a massive indoor roap course, billed as “IT Adventure Roaps Course,” that includes two 60-feet high ropes courses. Jordan’s is devoting 20,000 sq. ft. to the attraction.
Visualizing sales on Instagram

A new e-commerce integration will empower online retailers to sell goods directly through Instagram.

Springbot, an e-commerce marketing platform designed for online stores, has integrated with Instagram to allow the creation of customized shopping pages through a Magento or Shopify merchant’s Instagram profile. Springbot already provides the tracking of revenue attribution for retailers on Facebook, Pinterest and Twitter.
CVS Health surpasses expectations once again

The pharmacy services segment helped CVS Health post a $10.3% increase in net revenue in the third quarter.
Amazon ends consumer-facing service

Amazon.com is famous for launching new services and solutions at a dizzying rate, but the online retail giant is quietly preparing to close one down.

In an announcement posted on the Amazon Local daily deals site, the retailer says it will stop deals on the site and app as of Dec. 18. Amazon Local will continue business as normal until that date. Amazon Local purchase vouchers will remain valid for five years from purchase date as required by law in all 50 states.
WBA to divest as many as 1,000 stores to secure Rite Aid deal approval

The merger agreement between Walgreens Boots Alliance and Rite Aid must be consummated by Oct. 27, 2016, or the deal is off, according to documents filed to the Securities and Exchange Commission on Thursday. That deadline could be extended to Jan. 27, 2017 under some circumstances, according to the document.
CVS Health announces results of solid Q3

For the third quarter ended Sept. 30, CVS Health reported $38.6 billion in net revenues, representing an increase of 10.3%. Revenues across the Pharmacy Services Segment increased 13.3% to $25.5 billion, primarily driven by growth in specialty pharmacy and pharmacy network claims.

“We delivered solid revenue and operating profit growth across our businesses, and we continue to expect significant growth in the fourth quarter, rounding out another terrific year for our company,” Larry Merlo, CVS Health president and CEO, said.
Millennials Set to Rebuild Retail Industry from the Ground Up

Retailers, are you prepared for the millennial effect?

Born roughly between 1980 and 2000, millennials, are poised to cause a tidal shift in the retail industry because of their spending power and unique characteristics that greatly influence how and what they purchase. According to Advertising Age, millennials will spend more than $200 billion annually starting in 2017 and $10 trillion in their lifetimes.
Report: Another big name throws hat in mobile payment ring

Mobile payment keeps getting more popular, at least on the provider side.

According to Re/Code, Amazon.com is launching a mobile “Pay with Amazon” button that will let consumers automatically use their Amazon payment information to make purchases on other retailer’s e-commerce apps. While not exactly a mobile wallet app, the Pay With Amazon button is definitely an attempt to obtain a piece of the mobile payment market which Apple, Samsung, Google, and several other entities are trying to take an early lead in.