TECHNOLOGY

Study: Rampant promotions lead to big margin reduction for retailers
Call 2016 the “year of promotions” in retail, with 44% of all orders during the year sold on promotion, and 67% of all orders sold using a markdown. That’s according to the DynamicAction Retail Index: 2016 Year-in-Review and 2017 Outlook, which found that rampant promotional and markdown activity led to a 24% margin reduction for North American retailers in 2016.
Survey: Shopping in stores a ‘chore’ for many consumers
When did washing dishes become more attractive than shopping? In-store shopping has lost its allure for many shoppers, who are increasingly frustrated with brick-and-mortar stores that lack the convenience of online players, according to a new global report from Capgemini’s Digital Transformation Institute.

Traditional Stores Get Smarter and Better Connected

In their e-commerce operations, retailers have long had access to limitless data about customers and transactions. They’ve become adept at using this information to deliver personalized communications and targeted campaigns to customers as they shop online. Unfortunately, the same could not be said for in-store shopping. Retailers have had no way of knowing what customers were doing in their stores from the time they entered the front door until they checked out at the POS system.
Holiday sales better than expected; data reveals winners — and losers

It was a less than merry holiday for some retailers, especially in the department store sector, but total sales still managed to beat industry projections, fueled by a strengthening economy. Retail sales (excluding autos, gas stations and restaurants) during November and December rose 4% over 2015 to $658.3 billion, according to the National Retail Federation. The group had forecast sales would rise 3.6% to $655.8 billion.
Report: Future of retail IoT more than beacons

Omnichannel is so 2016, with mPOS, staff handhelds/wearables, camera analytics, interactive mirrors with AI, chatbots, and VR already shaping up as this year’s overused retail tech buzzwords. At least that's according to ABI Research, whose new report outlines important trends — including 3D sensing — that it believes, while still under the radar, should be top priorities on retailers' technology agendas as they move toward a “smart” retail future.
Study: The first ‘digitally native’ generation shops in stores

Generation Z grew up online, but that doesn’t mean that’s where they do all their shopping. Sixty-seven percent of Gen Z — the first “digitally native” group to grow up not knowing a world before cellular phones, smartphones and other digital devices — said they shop in a bricks-and-mortar store most of the time, with another 31% shopping in-store sometimes, in a new survey by IBM and the National Retail Federation.
Retailer gets caught in political crossfire

L.L. Bean has been drawn into something that it has always shied away: the political spotlight. It all started with the news that Linda Bean, granddaughter of company founder Leon Leonwood Bean and a member of the Bean board, had made a substantial donation to a pro-Trump PAC during the president-elect's campaign. Trump then thanked Bean for her support via a tweet that ended with “Buy L.L.Bean.”
Amazon settles price advertising case for more than $1 million

Amazon is being penalized for inaccurate pricing practices on its Canadian website. According to the Competition Bureau, a Canadian independent law enforcement agency, Amazon will pay a $1 million penalty and $100,000 towards the Competition Bureau’s costs — punishment for violating the Competition Act, a law that ensures consumers are not misled by references to inflated regular prices.
Target is looking for a few good tech start-ups

Target is bringing back its retail accelerator program for a second round. On the heels of the first Target + Techstars retail accelerator, the retailer said it has opened applications for a second round of the program yesterday, inviting retail-specific tech startups worldwide to apply for a chance to relocate to Minneapolis and embed themselves at Target.
Study: Grocers fail to meet shoppers’ fresh needs

Many grocery retailers are still missing the mark when it comes to meeting a key shopper demand. Specifically, 81% of shoppers said they are unable to get produce they want in store, online and at discount retailers, yet 91% of grocery retail professionals are confident they are meeting customer expectations of availability.