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.
While a company might get lucky, and hit on a unique product, history has shown that just isn't enough to drive sustainable results. In other words, for the short term, customers will put up with almost anything to get the "next big thing." The operative phrase here is: "short-term."
Kohl's broke new ground as a retailer in the 1990s creating a kind of streamlined department store. The chain is now reinventing itself for the digital age following a re-evaluation of its merchandise mix and needed the systems to support the shift.
The role of the store is changing in the new omnichannel order, but the technology needed to fuel it is still underutilized. Case in point, RFID and in-store fulfillment for online orders.
While the Federal Trade Commission has launched an investigative arm for consumer privacy protection in the Internet of Things, Samsung Electronics is focusing more on business applications.
During a keynote speech at CeBIT 2015, Samsung President Won-Pyo Hong said the company is restructuring its IoT services to cater to B2B needs, creating a Samsung Business unit, according to Pymnts.com.
Hong said Samsung is creating an innovative, open and collaborative IoT ecosystem. "As more and more businesses adopt the Internet of Things, we have a great opportunity to enhance customer value with increased productivity and profit," Hong said, as reported in a company press release. "Significant advancements can be made in the business process through the application of IoT in inventory management, energy efficiency and more. However, we first have to overcome the challenges of platform compatibility, data analysis and security in order to accelerate IoT adoption."
Cisco Systems is warning of a new breed of malware technology, nicknamed PoSeidon, that targets point-of-sale systems.
This is bad news for retailers that are still reeling from the many data breaches of recent history, such as those that hit Target, Home Depot, Staples and Supervalu. Target is still attempting to settle a class action suit from its 2013 breach, which affected as many as 110 million customers, for $10 million.
PoSeidon infects machines and scrapes their memory for credit card information, and then exfiltrates that data to servers—many hosted on Russian domains—where it can be harvested and likely resold, according to a post on Cisco Systems' blog. Data exfiltration is also known as data extrusion, and it is the unauthorized transfer of computer data.
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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.
RFID is gaining traction with retailers and manufacturers, nearing an adoption and usage "tipping point," according to a recent study from GS1 US.
Kirkland's Home, a 337-store home decor retailer in 35 states, has implemented a customized advanced fashion assortment program that will improve its merchandise financials, location and item planning.
Target Corp. has proposed a $10 million settlement of a class action lawsuit regarding the high-profile 2013 data breach that compromised the personal and credit card information of as many as 110 million people, according to court records.
Facebook has added a payments feature to its Messenger app, although its purpose is somewhat different from Apple Pay and others designed for use at the point-of-sale. In keeping with its mission to facilitate communications between "friends," the Facebook payment system is peer-to-peer and free, enabling the half billion Facebook users to send money to each other through Messenger after linking a Visa or MasterCard debit card to their account.
In a move that will expand its capabilities in the Internet of Things for business uses, Amazon has acquired 2lemetry, a startup that has developed a platform to track and manage IP-enabled machines and other connected devices.
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Pharmaceutical and consumer packaged goods manufacturer Johnson & Johnson announced that it is partnering with Google to develop robots that can assist surgeons in the operating room.
Amazon announced the expansion of its one-hour delivery service to Dallas. Prime Now, which delivers daily essentials, is now accessible in four cities.