TECHNOLOGY

Tech Bytes: Three ‘disruptive’ lessons from Northwest Arkansas Technology Summit
Hands down, “digital disruption” was the theme of the third annual Northwest Arkansas Technology Summit, held in Rogers, Arkansas. In line with evolving concept itself, there were many definitions of what digital disruption truly means heard throughout the event.
More good news for retailers
Yet another holiday forecast brings more good cheer to retailers. Consumers plan to spend an average of $636 on holiday-related expenses, up 3% from what they anticipated last year, according to The NPD Group’s 2016 Holiday Purchase Intentions Survey. They are also less concerned this year about the economy spoiling their holiday fun. When asked how the state of the economy will influence holiday purchases in 2016, the 12% who said it will have a “significant impact” is down from recent years (14% in 2015, 19% in 2014).

Target’s latest partner is…

Target Corp. is partnering with a hip design magazine on its new home collection. The retailer will launch Modern by Dwell Magazine at select stores and online beginning Dec. 27. The collection will include more than 120 items, including furniture, décor, tabletop and home accessories, with products separated into indoor and outdoor collections. Prices will range from $49.99 to $399.99 for furniture and $16.99 to $99.99 for décor, tabletop and accessories.
Walmart to slow new store growth, invest in remodels and online

Walmart gave a lackluster profit outlook for next year, and said it will slow new store openings as it invests in remodels and digital initiatives.
Report: Walmart fielding presentations from 26 technology startups

Walmart is hosting 26 startups to present their ideas as part of the company's Technology Open Call, the Northwest Arkansas Democrat Gazette reported Thursday. The event is being held in conjunction with Friday's Northwest Arkansas Tech Summit and features companies like FreshSpire, a service that notifies participating consumers the availability of discounted produce that's about to expire.
Retail Next: The biggest, busiest shopping days of the year will be…

Move over Black Friday. The biggest shopping day in terms of holiday sales is expected to be Friday, Dec. 23, while the biggest day in terms of store traffic is expected to be Saturday, Dec. 17, according to RetailNext Inc. (See lists at end of story.) It’s the first time in many years that Black Friday failed to top either of the lists.
Home decor retailer betas membership-only loyalty program

Bed Bath & Beyond is taking a loyalty lesson from Amazon.com. The chain, which is synonymous with blanketing its customer base with ubiquitous $5 off and 20% off discount coupons, is beta testing a paid membership-based loyalty program that rewards participating customers with exclusive benefits online and in-store.
J.C. Penney uses ‘experiences’ to ‘reimagine retail’

It is not easy for a 100-plus year-old retailer to reimagine its retail strategy, but J.C. Penney is doing just that.
Online retailer open-sources 3-D code for home products

Known for its technology innovation, Wayfair just made a big move. The home furnishings pure play released its 3D model application program interface (API). This move gives developers access to more than 10,000 3D furniture and décor models available on the platform.
The nation’s largest mall bucks a big trend

In a bold stand, Mall of America will be closed on turkey day this year. The mall, located in Bloomington, Minnesota, has been open for business on the holiday for the past four years. The 5.6 million-sq.-ft. mall has more than 520 stores and restaurants, and a number of attractions. “In years past we’ve all rallied together to answer the call for 24/7 shopper access that the Thanksgiving/Black Friday weekend brings.”