Foreigners Mourn Carrefour's Retreat From China, Marking the End of a Retail Era

KYLE MULLIN | June 26, 2019 | 40 views

Carrefour regulars looking for a discount might be dismayed by its latest markdown. Earlier this week the French retailer sold 80 percent of its China ownership stake to domestic retailer Suning.com for RMB 4.8 billion (USD 698 million), a valuation of 0.2 times its 2018 sales. That is well below the 0.8 times industry average, which is “likely due to poor financial results," according to Bloomberg. It is a stark reversal of fortunes for one of the first foreign retailers in China. Since its debut in 1995, Carrefour has gone on to operate 210 supermarkets and 24 convenience stores nationwide. However, its 2018 sales in China stood at RMB 28.20 billion (USD 4.10 billion), a roughly 10 percent decline from the previous year, according to Channel News Asia.

Spotlight

Kettydo+

Kettydo + is a digital agency focused on three strategic assets: Experience, Creativity, Technology. An integrated offer to be competitive in the era of the Engagement Economy: a scenario in which the Brands win to demonstrate their Clients on a personal level, where the best way to conquer their heart and mind is to engage them in authentic experiences , participated and personalized.

OTHER ARTICLES
POS RETAIL

POS System Essential for Omnichannel Retail

Article | July 8, 2022

“Software-led payments is more than just ecommerce or online invoicing, as many software platforms are starting to offer solutions for card present transactions.” - Caleb Avery, CEO of Tilled The omnichannel retail marketplace has been witnessing a surge in recent years. A buyer has a natural tendency to check the details of the products or services on the internet. But a single purchase may involve different channels like apps, websites, store walk-ins, etc. For example, a customer may conduct online research and purchase an item before picking it up from a retail store; or, conversely, he may go to a nearby mall and inspect the product first before purchasing it online. Therefore, retailing has become increasingly about providing multi-channel or cross-channel experiences to customers. If the merchant misses out on his goods being offered on any channel, it will harm the customer experience (CX). In such a circumstance, deploying a POS system built for multi-site store networks that takes care of the maintenance of the website and all the locations in the chain simultaneously is a blessing for the retail sector. The point of sale is now an important part of an eCommerce plan for a business and a key part of its ongoing marketing strategy. Drive Loyalty and Sales Using Your Omnichannel POS A retailer's point of sale is the hub of every business action, wherein sales, marketing, inventory, customer management and customer service merge. But what many still don't realize is its powerful role in unlocking customer loyalty and higher revenue. With a modern and adaptable point-of-sale system, lengthy transaction times are minimized and may be boosted while simultaneously processing more consumers, enhancing the customer experience. Your omnichannel POS should permit the configuration of several payment methods. Customers can choose various payment methods, such as credit cards, digital wallets, PayPal, and cash. POS data should be utilized in all company decisions in today's society. Additionally, POS data is essential for merchandise planning. For example, if a product is not selling quickly enough, sell-through and sales-by-margin analytics can influence your pricing decisions and allow you to adjust accordingly. A common misconception about POS is that it is only a point of contact between your clients and your business. However, when its tremendous capabilities are utilized, it becomes a tool that helps you understand your clients, enhance their experience, and guarantee you are prepared to meet their demands. Importance of Using POS and Ecommerce Integration Combining CRM and POS software enables staff members to review and update client information instantly. You can develop new sales methods based on customers' interests and previous purchases. The omnichannel point of sale integrates with Tally, Quickbooks, etc. You may export order receipts from all channels directly. With omnichannel POS, your firm is accessible to customers 24 hours a day. Customers can purchase at one store and receive delivery from another, as well as other choices designed to improve the shopping experience. A retail eCommerce platform with seamless integration benefits both businesses and customers. Bottom Line Innovation in omnichannel retailing and investment in the POS system's digitization helps track and fulfill online, and offline customer needs. It goes without saying that the future of POS and retail are closely intertwined. In the coming years, POS will see a radical shift. Now is the optimal time for laggards to catch up or risk falling behind.

Read More
CLOUD BASED POS

A pivot to customer and supporting the shopping journeys

Article | June 21, 2022

ABC Fine Wine & SpiritsOracle Retail Cross Talk is our favorite event of the year. Across the 2.5 days, we create authentic connections across our retail community so you can learn from each other. We recruit 25-30 global retailers to share their experiences in case studies, panel discussions, or fireside chats. We are thrilled to host a panel discussion with ABC Fine Wine & Spirits and Estee Lauder. Delivering a great omnichannel retail experience takes the right people, process, and technology to earn shopper loyalty by offering engaging and seamless experiences across more than 70 unique customer journeys. Widespread curbside pick-up, flexible store environments, buy online, pick-up in-store (BOPIS) protocols–these new norms have dramatically accelerated in-store adaptation and innovation. As brands dive deeper for new ways to maximize the customer experience—and adapt to the rapidly changing world—they must lean into agile technology. Join this discussion to hear how ABC Fine Wine & Spirits and Estee Lauder are tackling today’s challenges and planning for the future. Estee Lauder Platform Discussion: Stores and Omnichannel As customers continue to evolve the omnichannel retail journey, you can provide them with engaging, seamless experiences while refining operations across point-of-service, ecommerce, and order management systems. Join us at Cross Talk to learn how Oracle Retail’s omnichannel modern retail solutions bridge the productivity gaps between the online and traditional point-of-sale functionality, improve store associate effectiveness, increase sales, and ultimately personalize the customer experience.

Read More
POS RETAIL

Digital Payments – Preferred Way To Exchange Money

Article | August 12, 2022

In the past several years, the evolution of the payments industry has been remarkable. The digital payment business is expanding fast and is an open area for competitors. Globally, the emergence and implementation of digital payment solutions results from diverse requirements. The digital payments ecosystem is being propelled by three significant factors: technology, customer demand, and regulations. Insights Into Digital Payments Evolution The Internet of Things, APIs, point of sale (POS), mobile wallets, and tokenization create a seamless payments ecosystem by digitally connecting every industry with the payments environment. Consumer demand drivers can be broken down into subcategories, such as real-time payments, a better user experience, and personalization. In 2021, the market for digital payments was estimated at USD 7.36 trillion. It is expected to reach USD 15.27 trillion by 2027, with a CAGR of 12.38% between 2022 and 2027. The technical improvements of smartphones, digital payment cards, and point-of-sale terminals in retail stores are driving the expansion of the industry. According to American Express, the COVID-19 pandemic significantly impacted cardholder spending. Companies are offering contactless payment options to attract customers. This has made the contactless function a global competitive advantage for companies. In light of the preceding progress and development, let's explore what 2022 has in store for you. Look closely at any changes to digital payment methods that could be important in 2022. The Most Prevalent Digital Payment Trends – 2022 Biometric Authentication In 2022, biometric authentication will increase as a trend in the digital payment industry. Biometric authentication utilizes a person's biological and anatomical traits. In addition to fingerprint scanners, face recognition, iris recognition, heartbeat analysis, and vein mapping, the verification process also incorporates fingerprint scanners. It is a very secure payment system based on the unique qualities of each individual. Additionally, it helps establish consumer loyalty and trust. Contactless Payments Customers may make contactless payments by just waving their smartphone in front of the reader. Thus, the payment method becomes faster and more convenient than card insertion. Contactless payments are more secure due to the rapid transfer of encrypted data to the point-of-sale gadget. Mobile Point of Sale Mobile-point-of-sale (mPOS) is a breakthrough technology since it liberates retailers from storefronts and in-store payments. Instead, it is a portable register that operates on a tablet, smartphone, or mobile device. Mobile POS has significantly altered a store's payment procedure by making it more efficient and adaptable. According to Global Market Insights, mPOS will grow at a 19% CAGR between 2020 and 2026. Mobile Wallet Transaction According to Juniper Research, digital and mobile wallet usage will surpass 4.4 billion by 2025. Mobile wallets do not require a real bank account and keep all payment information securely and compactly. This is enabled through Near Field Communication (NFC) technology, which allows devices in close proximity to communicate and share data quickly. With the rise in demand for contactless payments, NFC has become a prominent term in digital payments. Final Word There are many proven ways to send money around the world. It is essential to consider how money moves across borders. The answer depends on the payment's context. Today's businesses want diverse and straightforward methods for international money transfers. The choices available to enterprises range from SWIFT and ACH transfers to digital wallets and cheques to credit cards and even crypto money. Digital payments enable organizations to conduct money transfers efficiently, transparently, and cost-effectively. This will encourage the global economy to continue expanding and strengthening further.

Read More
POS RETAIL

Top Reasons Businesses Choose Cloud-based POS Systems

Article | May 20, 2022

Digital innovations make a significant impact on the payment business. Point-of-sale is one such innovation that eases the payment mode. Traditional POS systems face several obstacles, such as data storage on local servers, higher upfront payments, limited access to the data, and higher costs. On the contrary, a cloud-based POS system is easier and offers more agility and access, making the payment process seamless and less time taking. Customer expectations are constantly changing regarding seamless online and offline payment processes. Cloud-based POS systems ensure the best possible customer experience while staying relevant to the rapidly evolving technology. Making the lives of the customers easier is the primary goal of the payment service provider. Deciding Between Getting a Traditional or A Cloud-Based POS System? POS software has improved over the past decade, and many firms have hopped on the POS system bandwagon. There are different types of POS systems available, and you may get confused, especially if you are new to POS. Purchasing a POS system is a long-term investment and should not be made without extensive research and knowledge. It would be best to compare the pros and cons of traditional and cloud-based POS options. Identify your business's needs and select the right POS system. On-site or existing POS is an old method. The data is stored on local servers and in closed networks. It is commonly known that standard POS systems can be complex and time-consuming. Also, installing large hardware adds to the cost of getting started. If you use older methods, you might be able to access data on-site, but you could lose it. A cloud-based POS is easy to use and easy to get to. The cloud-based POS system is adaptable and can easily add new modules or apps from other corporates. The software is rented by the month or year. Methods that use the cloud allow mobile access which means you can leverage the functionality of mobile POS without fully implementing a mobile POS system. POS software that runs in the cloud is also automatically backed up. Cloud-based POS software offers incredible benefits for your business. Reasons for Opting for a Cloud-based POS System Cloud POS Systems Are More Secure A cloud-based POS system lowers all types of risks due to stringent security standards. Cloud technology allows the POS software to automatically backup the data and sync via remote servers. The regular updating of the system increases the security level of the software. Remote System Access Switching to a cloud-based POS system allows you to access your back-office functionality from anywhere. This capability gives you the ability to receive important updates regarding inventory or vendor issues on your mobile or home computer. You will also benefit from the security of cloud backup for your data. Cost-effective Cloud-based POS may appear to be more expensive than conventional POS systems. Nevertheless, cloud-based technologies are preferable for SMBs. In contrast to traditional POS systems, cloud-based SaaS has no upfront costs and has low monthly rates. Automatic software updates are delivered, and the system can update itself. Better Customer Service Cloud POS is compatible with various payment options and can send invoices through email or SMS. This enhances the purchase experience for your brand's customers. Customers interested in simple technology like simple processes are thus satisfied with the commercial services a POS system delivers. By choosing a cloud-based POS system, you'll always be able to meet customer needs quickly. Also, remember that you can get updates, which are meant to change some features to fit how people use them. Conclusion We’ve seen a few reasons that why you should consider transitioning to a cloud-based point-of-sale system, but the list is unlimited. If you have not considered implementing a point-of-sale system, now is the time to do so. The most prominent upside is that a sound POS system facilitates sales and increases the capacity to attract more clients.

Read More

Spotlight

Kettydo+

Kettydo + is a digital agency focused on three strategic assets: Experience, Creativity, Technology. An integrated offer to be competitive in the era of the Engagement Economy: a scenario in which the Brands win to demonstrate their Clients on a personal level, where the best way to conquer their heart and mind is to engage them in authentic experiences , participated and personalized.

Related News

Delivering Regional Flavor With State-Specific Subscriptions

pymnts | June 24, 2019

To offer shoppers a curated selection of local products ranging from décor to local flavors, eCommerce innovators are assembling subscription boxes around different U.S. states. California Found, for instance, is essentially a boutique gift box of artisanal goods from the Golden State. In lieu of a big-box store or Amazon, the box aims to provide shoppers with opportunities to purchase gifts for friends or loved ones through a different channel, with a differentiated experience. “This is like going to a small boutique with unique items” they will not find elsewhere, Founder and Owner Beth McClure told PYMNTS in an interview.

Read More

Betting on a Prime Day outage, eBay announces 'Crash Sale'

retaildive | June 26, 2019

EBay on Wednesday announced a "Crash Sale" on July 15 that includes brand deals and free shipping, according to a press release emailed to Retail Dive. If Amazon's website crashes on Prime Day which on Tuesday was announced would begin on July 15 eBay stated it will introduce more deals during its Crash Sale.EBay is running a series of sales during the month of July that includes "July 4th Savings" from July 1-7 with savings on items like stand mixers, robotic vacuums; the "Hot Deals for Hot Days" from July 8-22, which includes daily deals on tech, appliances and smart home devices; and the aforementioned "Crash Sale" on July 15, which offers discounts of more than 50% off select brands.

Read More

Who benefits from an Apple, Best Buy partnership?

retaildive | June 26, 2019

In a bid to make its services more widely accessible, Apple announced last week that Best Buy is now an authorized repair partner.In addition to the retailer's roughly 1,000 stores providing repair services, the company announced that nearly 7,600 of Best Buy's "Geek Squad" members will also serve as Apple-certified technicians who are "ready to make same-day iPhone repairs or to service other Apple products," according to a press release. Apple also noted that it will back all repairs and that only genuine Apple-branded parts will be used for the services. Best Buy customers already rely on the knowledge and support of its employees, most notably from its Geek Squad base, so becoming an authorized Apple repair location will likely resonate well with consumers."We love being there for our customers no matter what their Apple need is, from helping them choose the right device, to offering AppleCare protection and now helping fix their devices," Trish Walker, Best Buy's president of services, said in a statement.

Read More

Delivering Regional Flavor With State-Specific Subscriptions

pymnts | June 24, 2019

To offer shoppers a curated selection of local products ranging from décor to local flavors, eCommerce innovators are assembling subscription boxes around different U.S. states. California Found, for instance, is essentially a boutique gift box of artisanal goods from the Golden State. In lieu of a big-box store or Amazon, the box aims to provide shoppers with opportunities to purchase gifts for friends or loved ones through a different channel, with a differentiated experience. “This is like going to a small boutique with unique items” they will not find elsewhere, Founder and Owner Beth McClure told PYMNTS in an interview.

Read More

Betting on a Prime Day outage, eBay announces 'Crash Sale'

retaildive | June 26, 2019

EBay on Wednesday announced a "Crash Sale" on July 15 that includes brand deals and free shipping, according to a press release emailed to Retail Dive. If Amazon's website crashes on Prime Day which on Tuesday was announced would begin on July 15 eBay stated it will introduce more deals during its Crash Sale.EBay is running a series of sales during the month of July that includes "July 4th Savings" from July 1-7 with savings on items like stand mixers, robotic vacuums; the "Hot Deals for Hot Days" from July 8-22, which includes daily deals on tech, appliances and smart home devices; and the aforementioned "Crash Sale" on July 15, which offers discounts of more than 50% off select brands.

Read More

Who benefits from an Apple, Best Buy partnership?

retaildive | June 26, 2019

In a bid to make its services more widely accessible, Apple announced last week that Best Buy is now an authorized repair partner.In addition to the retailer's roughly 1,000 stores providing repair services, the company announced that nearly 7,600 of Best Buy's "Geek Squad" members will also serve as Apple-certified technicians who are "ready to make same-day iPhone repairs or to service other Apple products," according to a press release. Apple also noted that it will back all repairs and that only genuine Apple-branded parts will be used for the services. Best Buy customers already rely on the knowledge and support of its employees, most notably from its Geek Squad base, so becoming an authorized Apple repair location will likely resonate well with consumers."We love being there for our customers no matter what their Apple need is, from helping them choose the right device, to offering AppleCare protection and now helping fix their devices," Trish Walker, Best Buy's president of services, said in a statement.

Read More

Events