TECHNOLOGY

Emerging economies continue to drive global digital payment transactions — and momentum shows no signs of slowing.

What is the purpose of your business? If you are a retailer and your immediate answer is “to sell more products,” you may find times getting tougher in the months and years ahead.

Costco Wholesale Club is upping its home delivery game for online food orders as the grocery delivery market continues to heat up.   The retailer has introduced a new two-day delivery service, called CostcoGrocer, for customers across the U.S. (with the exception of those in Alaska, Hawaii, and Puerto Rico.). The service, which has a fee of $3, offers delivery of non-perishable foods and sundries, with about 500 items available. The delivery fee is waived for orders over $75.  

Off-price retailers will remain among the top performers in the U.S. retail industry during the next 12 to 18 months.   That's according to a new report from Moody's Investors Service. The outlook is not as positive for department stores, which will continue to struggle as they seek to level the playing field with both off-price and online vendors.  

With a mere six months under its belt, Lids’ new Access Pass loyalty program is driving customer engagement to new levels.   Tired of running a stagnant loyalty program that only engaged a small amount of shoppers regularly, the sporting goods headwear and apparel retailer was ready to change the game. In April, Lids switched from a static points-based program to a digital model designed to “delight” shoppers.  

Suistudio specializes in suits — but it's not dressing men.    Based in the Netherlands, the online women's apparel retailer is set to open its first U.S. store at the end of October, in New York City. The merchandise mix will emphasize no-fuss silhouettes that promise an "impeccable" fit and put a modern twist on the notion of power suiting — with in-store, while-you-wait tailoring available. In addition to suits, the mix includes shirts, dresses, and evening wear.   

In a move to step up their customer experiences, more retailers are embracing artificial intelligence (AI).   This was according to the third quarterly “2017 E-commerce Performance Index,” a report from SLI Systems.   According to the data, 54% of companies reported they are using or plan to add AI in the future. The largest group of these respondents (20%) expect to add AI within the next 12 months.