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An old technology is solving the vexing problem of inventory management in omnichannel environments: radio frequency identification. The result is big market growth for RFID and a big ROI for retailers implementing it.
An old killer app rides again. Radio frequency identification will become a key component of the Internet of Things because it bridges the physical and digital worlds, enabling the identification of objects and linking them to the internet.
The explosive growth of digital technology is compelling retail CIOs to embrace mobile and cloud mediums. Most retailers operate about 60 percent of their systems in the cloud, and others hope to increase that figure to 90 percent soon.
On average, retailers are only displaying about 80 percent of their store's merchandise on the showroom floor. That means at least 20 percent of a store's goods can't be sold because they can't be seen.
What happens next at JCPenney (NYSE:JCP), after the 1,100-store chain fired CEO Ron Johnson on Monday (April 8) and replaced him with the CEO that Johnson replaced, Mike Ullman? The retailer isn't saying. But many of the internal changes Johnson instituted at JCPenney are effectively irreversible, including remodeling all the chain's stores and replacing much of the chain's IT capability. That money is already spent.