News

MasterCard takes on world with MasterPass
Munich, Germany – There is more news in the fast-growing digital wallet sector.

MasterCard and payment gateway solution provider Pay.On are partnering to make the MasterPass digital wallet application available to more than 110 payment service providers (PSPs) via Pay.On’s white label global payment gateway. MasterPass is now available to more than 56,000 Web shops worldwide that route payments through Pay.On’s partners.
Study: Shoppers using reviews, social posts and video more than ever
Product reviews, social media posts and videos are having more of an impact on shoppers than ever before, according to a new survey from Bazaarvoice.

The Bazaarvoice Conversation Index Volume 9 examines how consumers' online and offline shopping behavior is influenced by consumer-generated content (CGC) such as ratings and reviews, questions and answers, photos, videos, and social posts.

Birchbox gets real — with virtual reality

New York - Online beauty and grooming subscription retailer Birchbox is the latest brand to dip into virtual reality.
Barnes & Noble to spin off education unit in August

New York – Barnes & Noble Inc. will officially spin off its education unit on Aug. 2, 2015. Barnes & Noble shareholders will receive 0.632 shares of Barnes & Noble Education stock for each share of Barnes & Noble stock they hold as of July 27, 2015.

Barnes & Noble Education will function as a separate public company and trade under the symbol BNED on the New York Stock Exchange. Barnes & Noble will continue trading on the NYSE under the symbol BKS.
Wal-Mart dares Amazon comparison

Bentonville, Ark. – Wal-Mart Stores Inc. is not backing down in its challenge to the upcoming July 15 Amazon “Prime Day” event. One day after reducing the minimum online purchase for free shipping from $50 to $35 and reducing prices on thousands of online items, Wal-Mart is going a step further and guaranteeing it will offer lower prices than Amazon.
The future of food, according to General Mills

Retailers who sell food have seen firsthand the huge shift in consumer behavior toward natural, organic, gluten free and non-GMO products. Offering a view of what’s next in the grocery aisle this week was leading food supplier General Mills.

As part of an investor day to unveil growth strategies, the $18.8 billion company shared details about a broad range of new product introductions that debut this summer and are expected to drive retail sales.
QVC orders new West Coast distribution hub

West Chester, Pa. - QVC will open a state-of-the-art distribution center in Ontario, California. When the new facility begins operation in third quarter 2016, it will serve as a West Coast distribution hub for QVC.

As QVC ramps up operations, the center is expected to employ more than 500 team members by 2018. QVC anticipates hiring approximately 1,000 team members in total by 2020 as the distribution center expands fulfillment to all product categories.
Sears names Gymboree executive as president

With its stock trading at a 52-week low, Sears has made an interesting choice to lead its department store business.

The company says it has found a new executive to develop a strategy for the Sears format that focuses on meeting the needs of the Shop Your Way member.
Good news for retailers in ICSC’s back-to-school shopping survey

New York -- There was good news for retailers in the International Council of Shopping Centers’ annual BTS (Back-to-School) Consumer Spending Survey.

The survey revealed that the share of consumers expecting to spend more this year increased significantly year-over-year to 67%, compared to 50% of shoppers in 2014 and 39% who expected to increase spending in 2013.
Books-A-Million OKs $21 million buyout

Birmingham, Ala. -- In a deal that may take it private again, Books-A-Million Inc. has given its OK to a buyout deal from the family of its original owners.

The chain reached an agreement to be acquired by a newly organized entity owned by the Anderson Family, which includes Books-A-Million executive chairman Clyde B. Anderson, for $21 million, or $3.25 a share in cash. (According to the most recent SEC filing, the Anderson family already owns 58.2% of the company).