TECHNOLOGY

Survey: Consumers like technology — if they are in control
Consumers feel good about some — but not all — retail technologies. That’s according to a new study by Oracle, Retail 2025, which reveals that consumers are most willing to engage brands with new technology if they feel that they are in control of their experience.
Two retail associations to combine risk events
The Food Marketing Institute and National Retail Federation will combine their existing risk and safety signature events into one cross-industry event starting in 2018. The two groups will sponsor Protect in 2018, according to an announcement made Wednesday at the FMI’s Audit, Safety, Asset Protection Conference in Orlando.

Westfield’s smart screens to serve up customized offers to mall shoppers

State-of-the-art digital screens that can identify demographic information of passersby and pitch them personalized offers from brands are making their way into Westfield malls in top DMAs. Employing a proprietary suite of technologies, the six-foot-tall, high-definition screens scan passersby and — apparently through smartphone data and facial imaging — determine their demographic profiles to serve them customized ads.
Moody’s: U.S. supermarkets’ profits to rise in 2017

Moody's Investors Service has some good news for the U.S. supermarket industry. Grocery stores’ operating profits will grow at a fairly healthy rate again this year after a disappointing 2016, according to Moody’s new report, "Companies Will Perform Better in 2017 as Deflationary Pressure Wanes. Profitability last year was crimped by an unprecedented level of deflation for an economy not in recession, the report noted, but as downward pressure on prices wanes, things will pick up in the latter half of this year.
Warehouse club giant to roll out grocery delivery service

Costco Wholesale Corp. is making it easier for customers to shop for groceries. Shipt, a membership-based delivery service for online groceries, has partnered with Costco to deliver groceries orders placed by Costco customers directly to their homes. The service will launch initially in the Tampa area, with plans to expand to 50 markets and more than 30 million households by the end of the year. It is limited to grocery, and does not include apparel, furniture or electronic
How Can Retailers Thrive in Review-First Shopping?

Online reviews have boomed in recent years. Once just another step in the customer decision-making process, they are now a pervasive part of daily life.
Walmart launches Store No. 8 — but it’s not really a store

The nation’s largest retailer is delving deeper into e-commerce and evolving technology with its newest investment. Walmart has formed Store No. 8, a technology incubator that will be based in the Silicon Valley. (The new initiative is named after an early Walmart store that company founder Sam Walton used to try out new retail strategies.)
Study: Consumers in rebellion against full prices

Shoppers are no longer willing to pay full price as deep discounts influence consumer behavior. That is one of the key findings of a new consumer report by First Insight, which found that widespread discounting by department stores and mass merchants is significantly influencing the expectations of discounts when consumers shop in other product categories.
Menswear retailer to focus on marketing, digital in 2017

Destination XL Group is slowing store growth to invest in e-commerce and enhanced marketing that includes a return to television advertising. The retailer of big and tall men’s clothing on Monday reported better-than-expected net income of $1.8 million for the quarter, after reporting a loss of $1.4 million in the year-ago period. Total sales for the quarter were reported as $122.6 million, down slightly from $124.0 million in the prior-year quarter. Same-store sales fell 2.4%.
Report: Retail will look dramatically different by 2030

Converging channels, customization and constant connectivity are expected to change the shopping sector in the years ahead. That is the main theme of a new study by Synchrony Financial, which examines consumer perspectives and shopping trends that are expected to change the retail industry by 2030. “The future of retail will look dramatically different in 2030 than it does today,” said Whit Goodrich, CMO retail card, Synchrony Financial.