While omnichannel retail is the biggest growth area for retailers, the majority of retail CEOs are focused on traditional growth areas.
Eighty-three percent of global retail CEOs believe that their retail supply chains are currently "not optimal" for today's changing retail environment, according to a recent study conducted by PwC for JDA Software.
At the same time, only 34 percent of CEOs consider the rise of omnichannel shopping to be an external threat, while only 22 percent said it will have a direct impact on their organization, according to the survey of 400 global retail CEOs.
"The rise of omnichannel is one of the most transformational shifts that has occurred in retail in recent times," said Baljit Dail, chairman of the board and interim CEO, JDA Software, in a statement. "Retailers who don't understand the strategic alignment of their supply chain with consumer expectations are in danger of becoming non-competitive."
In another sign that Bitcoin is becoming more mainstream, payments processor and e-commerce platform provider Digital River said this week that it will accept the virtual currency. It is one of the first major payment processors to accept Bitcoin.
Following Walmart's lead, Target launched an Accelerator Program in India, which leverages brilliant minds for the next big tech ideas, according to the retailer.
Two years ago, WalmartLabs invested in Bangalore's tech talent to build a global e-commerce platform. Similarly, Tesco, the UK's largest retailer, has a technology center in Bangalore to build global solutions.
Target executives expect that the technology ideas from Bangalore will change customer engagement in the U.S. "The Indian operation of Target is not a back office, and the accelerator program showcases that India has talent to solve global problems in the retail market," Navneet Kapoor, CEO of Target India, told BusinessWorld.
Target's program, launched early this year, focused on small startups that were charged with bringing innovative ideas to Target across five key areas: search, content, data, social and mobile. Hundreds of startups applied to the program, but only five were selected and given the opportunity to develop their ideas at Target's Bangalore office with access to mentors, tools, resources and operational support.
While retailers and restaurants in the U.S. deal with a flood of card data breaches, hackers have demanded a ransom of 30,000 euros ($40,706) from Domino's Pizza. In a startling move, the hackers demanded the money after stealing personal data on more than 600,000 of the restaurant chain's customers in Belgium and France.
Until security on retail point-of-sale systems becomes pervasive, the data breaches that affected Target late last year and P.F. Chang's just this month will continue, security experts say.
The iBeacon rollout along London's high-profile Regent Street is an example of what iBeacon proponents think should happen in U.S. retail.
This week, iBeacons along the mile-long street — essentially the Fifth Avenue of London — went active to the public after previously aggregating thousands of users. Regent Street comprises 130 retail stores, including Burberry and Hugo Boss.
Like Walmart, Amazon and a handful of other retailers, Target is realizing the potential value in offering same-day delivery.
To help its retail customers compete with Amazon, IBM said Wednesday its customers can integrate with a startup called Deliv for same-day delivery.
"A lot of our clients are really looking at how do we more effectively compete against Amazon," IBM's Errol Denger told Re/code. Providing customers with every possible delivery option is becoming more critical.
Chinese e-commerce giant Alibaba Group officially launched its 11 Main U.S. retail site this week, threatening, eBay, Amazon, Etsy and other online sellers.
Consumers will more easily be able to buy products via their iPhones with Apple's new iOS 8 platform. The updated system will be available in September.
One way that iOS 8 boosts buying power is allowing the iPhone's camera to snap photos of credit cards to automatically populate credit card information fields. "That means no more arduous copying out of your card number, cardholder name and expiration date every time you want to complete a transaction online," TechCrunch reported. "Instead, it's a single-click thanks to optical character recognition, and it works automatically with existing Web forms, so there's no work required on the part of Web developers."
Many banking and security professionals would argue that the P.F. Chang's credit card data breach discovered on June 10 is a reason for quick EMV migration in the U.S. However, others say EMV is not the be-all, end-all for retail fraud.
While a news source claims that eBay may have to shut down its eBay Now local delivery service, eBay says that is not the case.
The online payments war continues after Amazon said earlier this week it was launching a PayPal competitor.
Sam's Club will become the first major retailer to adopt chip-and-PIN, or EMV technology, with the launch of a new card—co-branded with MasterCard. The card, along with a new rewards program linked to it, will be officially rolled out June 23.
Sears Holdings is seeking to grow e-commerce and in-store sales by bolstering supply chain and fulfillment.
Online retail sales may be hampered because of online and offline data breaches over the past few months, according to a new survey.
While Bitcoin's use by U.S. retailers is controversial, two new developments signal the virtual currency's future success.
Target this week said its security efforts were not to blame for the massive credit card breach late last year, contradicting what the retailer previously stated.
While in-store analytics are vital, many of the 124 global retailers surveyed by in-store analytics firm Brickstream also said they are focusing on multi-channel retail.
In the report released Wednesday, June 4, survey respondents reported a timeline of within a year to four years for becoming fully multi-channel, with supermarkets and department stores ranking as early adopters. More than 80 percent of retailers said stores and e-commerce are the most dominant sales channels, while 73 percent of those surveyed said mobile is the most important channel and 66 percent named social as the most vital channel.
U.S. retailers looking to use stores for online order fulfillment could have a new role model from across the pond. Tesco, Waitrose and Sainsbury in the U.K. have been using "dark stores" to fill up to 4,000 online orders a day.