Staying on top of breaking news in the retail industry is a commitment Retail TouchPoints editors take seriously. Each day, we publish the latest information in this News Briefs section. Up-to-the-minute stories cover retail implementations, new product announcements, financial updates, executive appointments and overall global updates affecting every aspect of the retail industry.
Worldpay, a payment technology and services company, and CAN Capital, a provider of alternative capital for SMBs, have renewed their relationship to offer merchants access to additional working capital.
CAN Capital uses proprietary risk models combined with daily performance data to evaluate business performance and facilitate access to capital.
Revionics End-to-End Merchandise Optimization solutions leverage predictive analytics to help retailers create and execute more effective promotions and pricing strategies. Under the agreement, the companies will combine Revionics’ Price and Promotion Optimization solutions with the retail market domain knowledge of Strategix. Strategix also will support Revionics’ sales and implementation efforts for all German-speaking countries, Central Europe and Russia.
Coach has replatformed its flagship e-Commerce site on the Demandware Commerce Cloud to support its omnichannel business transformation and international expansion plans. The new web site launched on January 2015.
By moving the e-Commerce site to a cloud-based system, Coach will have more flexibility and scalability, allowing team members to make changes based on evolving customer trends and preferences. In addition, the luxury retailer will be better equipped to tailor online experiences for international shoppers.
Softcard has sold technology and intellectual property to Google, which plans to use this purchase to enhance its Google Wallet app. For now, current Softcard customers can continue to use the app to tap-and-pay for goods and services in locations that accept NFC-enabled payments. However, the company is encouraging its users to begin using Google Wallet and stated in a FAQ concerning the deal that "in the near future, the Softcard app will shut down and all wallets will be terminated."
This sale follows several turbulent months for Softcard. During that time, the company has rebranded from ISIS to Softcard and has faced increased competition from Apple Pay. More recently Softcard cut its staff by as much as 30%.
Due to the success of its free shipping strategy over the holiday season, Target has decided to lower its free shipping threshold. Now, all orders $25 or more will qualify for free shipping, a significant decrease from its initial $50 minimum.
“Lowering the free shipping threshold from $50 to $25 is one more way Target is putting guests first and making it easier for them to shop Target when and where they want,” said Jason Goldberger, President of Target.com and Mobile. “Now, whether guests are stocking up or doing fill-in shopping, we’ve enhanced our year-round shipping offer to be one of the best in all of retail.”
Vosges Haut-Chocolat, a manufacturer and retailer of chocolate products, has adopted predictive marketing cloud technology from AgilOne to boost customer engagement and strengthen acquisition campaigns. The retailer expects to use the technology to gain insights from customer data and deliver brand experiences to specific customer segments.
With AgilOne, Vosges Haut-Chocolat can identify groups within its customer base and target products and messages that match their interests, ensuring the delivery of relevant marketing campaigns. The platform enables the retailer to determine future product launches based on consumer taste preferences.
Lettuce Entertain You Enterprises (LEYE), an operator of 90 restaurants throughout the U.S., has moved its Frequent Diner Club loyalty program to the Paytronix Rewards platform. LEYE is transitioning from a card-based to a mobile-centric loyalty program, and looks to leverage the Paytonix mobile and data analytics capabilities.
Paytronix designed its platform to enable LEYE to monitor down to the guest-level, identify its most valuable customers, and reward and engage with them in a relevant way.
Kenneth Cole Productions has appointed Marc Schneider as its CEO, where he will assume responsibility for the company’s retail, outlet, e-Commerce, international, licensing and wholesale businesses. Schneider will report to Kenneth Cole, who will continue as Executive Chairman and Chief Creative Officer.
Schneider will start his new position Feb. 23, 2015.
Urban Outfitters, a lifestyle retailer operating under the Anthropologie, Bhldn, Free People, Terrain and Urban Outfitters brands, will relocate its e-Commerce fulfillment center from Trenton, S.C., to Gap, Pa.
The new fulfillment center will be one million square feet, with construction scheduled to complete July 2015. The retailer expects the center will significantly increase its fulfillment capacity, and will be located adjacent to the existing URBN Retail Distribution Center.
Wal-Mart Stores will raise the salaries of 500,000 full-time and part-time associates at Walmart U.S. stores and Sam’s Clubs this year, according to a company statement. In April, the retailer will raise its entry wage to $9.00 per hour, $1.75 above the current U.S. federal minimum wage of $7.25. Current employees will have their wages raised to $10.00 per hour on Feb. 1, 2016. In total, the raises will impact 40% of the company’s 1.3 million U.S. employees.
Starting in 2016, all entry level employees that successfully complete a six-month skills-based training program, will receive a guaranteed raise to $10.00 an hour.
French supermarket chain Monoprix, a subsidiary of the Casino Group, has implemented the TXTPlanning solution to support merchandise and assortments planning on an international scale across multiple channels. The supermarket operates approximately 500 brick-and-mortar locations in France, as well as numerous store formats offering a wide range of food, fashion, beauty and leisure products in 85 outlets abroad.
TXTPlanning is designed to synchronize planning practices across all business channels.
Disney and Uniqlo are among retail clients of personalization provider Reflektion that have experienced, on average, a 70% increase in engagement and a 26% increase in conversion rates. Additional clients using the company’s one-to-one personalization solution include Gander Mountain, Converse and O’Neill Clothing.
“We are experiencing expanding interest from retailers and e-Commerce brands that are looking to replace first generation personalization and product recommendation technology with a more advanced solution that can deliver a true one-to-one shopping experience for their customers,” said Sean Moran, CEO of Reflektion. “In 2014, we helped our clients increase revenue throughout the year as well as boosted conversion rates during the critical holiday time period.”
The vast majority (82%) of shoppers worldwide have made an online purchase with a brand or retailer outside of their home country, according to a new FedEx survey. These consumers reported spending approximately $300 on cross-border items per year.
In an effort to better understand global online customers, Forrester Research conducted interviews with more than 9,000 respondents from SMBs across 17 countries and territories.
For 58% of retailers, mobile is a key investment area during 2015, up from 53% in 2014, according to the Shop.org report, titled: The State Of Retailing Online.
To develop the report, Forrester Research surveyed 71 companies from numerous retail categories including apparel, footwear, general merchandise, home furnishings and personal care between November and December 2014.
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