Creating the online equivalent of the in-store experience, one that hinges on associate interaction, is a challenge for any retailer. So for home furniture chain Room & Board, the idea that impersonal data could create a more personalized experience was a foreign one.
Retail technology is among the hottest topics in the tech world, but is still in its infancy. This was made exceedingly clear after a recent trip to SXSW Interactive, where sessions and presentations about retail technology in general, and mobile retail in particular, took center stage.
Ulta Beauty, the one-stop destination for beauty products and services, is leveraging technology to better personalize and customize their connection with shoppers in stores.
The mass market is still recovering from its latest bout with "The Bright Shiny Object Syndrome." It comes down with this fever every time a new technology product catches its fancy. The symptoms are excessive hype, excitement and preoccupation until the next hot thing comes along.
As the payment wars between retailers and credit card issuers rage on, both sides would be well served if the EMV October fraud liability shift deadline were pushed back, because neither group is fully prepared to meet it.
The dispute has been brewing for months and stems in no small part from the long and bloody conflict over card interchange fees. There's no love lost between retailers and their banking partners.
EMV stands for Europay, MasterCard and Visa. It is the global standard for inter-operation of integrated circuit cards (IC cards or chip cards), IC card-capable point-of-sale terminals and automated teller machines. It authenticates credit and debit card transactions. The card industry set an October deadline for retailers to be ready, or else become responsible for any resultant POS fraud.
EMV chip card payments won't reach "broad" adoption for at least a few more years, and tokenization must be prioritized to secure the payment chain, according to a new report from Forrester Research.
The report noted that the time is "ripe" for a change in the U.S. payment industry, suggesting that more secure, encrypted and tokenized transactions on digital wallets, mobile-based near field communication (NFC) virtual cards, and EMV contactless payments will be strong competition for plastic EMV chip-and-signature and chip-and-PIN payments in the United States.
As a result, Forrester predicted that plastic EMV cards won't achieve broad adoption in the United States until 2020. EMV acceptance in the United States will be slow for three reasons: The technologies don't solve fundamental fraud and security issues; the U.S. payment market is very complex; and the cost of terminal upgrades will slow adoption, or transition retailers directly to contactless solutions.
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With every new business venture and announcement, Amazon reveals more and more about its true self, and it's seeming less and less like a retailer.
Payment security technology is top-of-mind for most retail IT executives who are seriously considering, if not aggressively adopting, EMV chip card systems, tokenization, Apple Pay and point-to-point encryption. All are important, but none are complete solutions in and of themselves.
Walmart will begin testing a frontal assault on Amazon Prime this summer, offering unlimited free shipping at a rate equivalent to half of Amazon's $99 annual price.
In one of the largest RFID projects undertaken in retail yet, Target will roll out the radio frequency identification technology later this year for pricing and inventory control.
Trader Joe's may be the next major retailer to sign up for ApplePay, which, if expanded beyond a test, will add 400 retail locations to the contactless payment system's total.
RadioShack's intellectual property, which includes the iconic brand's name as well as its customer data, was sold at auction this week to Standard General, a hedge fund that acquired many of the stores, keeping 1,700 of them from liquidation with plans to revive the RadioShack legacy.
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Marketing platform providers Vidyard and SnapApp have entered a partnership that allows B2B marketers to integrate interactive tools such as quizzes, calculators and contests directly into video content. The embedded tools provide trackable, measureable opportunities for audience interaction at a time when marketers are boosting their spending on video.