Global online retail spending

| May 4, 2019

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Global online retail sales are growing and is estimated to reach 8.8% of total retail spending in 2018 as compared to 7.4% in 2016.  In terms of country, UK has the highest retail E-commerce sales as %age of total retail sales (15.6%) , followed by China (13.8%), Norway (11.5%), Finland (10.8%) and South Korea (10.5%).  Check out our infographic “Globe Online Retail Spending” for latest statistics and trends.

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Macy's Furloughs Workers, and Other Retail News Related to the COVID-19 Crisis

Article | March 30, 2020

Retailers are continuing to lay off and furlough workers due to the coronavirus uncertainty. Macy's announced this morning that the majority of employees for the Macy’s, Bloomingdales, and Bluemercury brands will go on furlough beginning this week. U.S. clothing rental firm Rent the Runway also said on Saturday it had laid off retail employees following temporary store closures amid the ongoing coronavirus outbreak. “Like many businesses affected by the COVID-19 pandemic, Rent the Runway has had to make some difficult decisions in the short term to thrive in the long term, which include temporary store closures and retail role eliminations,” a company spokeswoman said in an emailed statement to Reuters. Last week, Everlane laid off and furloughed more than 200 workers, including retail and those operating back-end functions, as it struggles to cope with the shutdown of its retail business over measures to reduce the spread of the coronavirus.

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Which Stores in the United States Have Closed Due to Coronavirus?

Article | March 17, 2020

In case you have been living under a rock, major US retail stores have announced they are closing or limiting their store hours to prevent the spread of the Coronavirus here in the United States. Besides almost every state closing restaurants, bars, gym’s, and theaters, you also have big companies trying to protect citizens from the Coronavirus crisis and protect public health. Walmart has taken steps to reduce hours after several major retailers have chosen to fully close physical store operations after there have been several confirmed cases in the country and they continue to rise. Major retailers Glossier and Patagonia both announced a temporary closure, prompting popular stores such as Abercrombie & Fitch, Nike, and Urban Outfitters to follow their lead.

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Getting smart about payment terminals

Article | April 15, 2021

For many years, payment terminals have been a vital tool for businesses that complete their customer transactions in-store. The familiar hand-held devices have reliably taken card payments and offered simple additional services like mobile phone top-ups, cashback or electronic tipping solutions. However, with recent technical innovation, boosted by the urgency surrounding Covid-19, the humble payment terminal is shedding its hard exterior - no longer is it, as some would argue, simply a commoditised, hardware-based necessity. As many within the payments space have predicted, the payment terminal is truly becoming a digital enabler and vital pivot point of modernisation for any business that accepts electronic transactions. The Android Operating System leads the way Today, payment terminals come in many forms. Though the traditional, handheld counter-top devices remain, many businesses now use off-the-shelf smartphones or tablets enabled with SPOC and CPOC technology. Regardless of their physical form, truly modern payment terminals share a commonality – enhanced functionality which allows businesses to update and adapt quickly to changing performance, environments, and customer needs. The Android operating system has been at the centre of a latest wave of innovation, facilitating the rise of mobile payment devices - pushed hard by the likes of Visa - and supporting the budding versatilities presented by Open Banking and PSD2 initiatives. Combined, this new choice and flexibility has the potential to deliver significant advantages to businesses deploying Android point-of-sale (POS) solutions. These include integrated EPOS, strong authentication, and an array of alternative payment methods such as bank-to-bank payments, QR codes and even crypto currencies. It’s about more than being just Covid-ready Getting the timing right to make adjustments and improvements is now a focus for businesses across the UK as we start to emerge from Covid-19 restrictions and resume face-to-face interactions. The conventional payment terminal can play a central part in engineering the essential adjustments needed to create a Covid-safe environment – the new £100 contactless limit being the most obvious example. However, functionality provided by the latest payment terminals allows businesses to do more than just make their premises Covid-ready. For more commercial gains, payment terminals running on the Android OS allow for this same POS functionality but combine it with other essential business systems such as stock management, visual itemisation, and centralised booking systems. As well as providing greater visibility of a business’ health and finances, more information also means friction points such as wait times and queues in store can be better managed. More data about customer behaviour also makes the in-store experience more customisable, for example, businesses can use this data to identify their busiest periods, explore seasonal changes or test new product lines and structure their staff planning and stock levels accordingly. Coupled with more vital operational efficiencies, payment terminals can allow for a speed and flexibility of payments that can directly enhance the bottom line. As the pace in retail environments ramps up to match that of the pre-Covid days, meeting new customer expectations and new environmental changes will be critical in staying relevant. An ability to accept the latest types and methods of payment could actually play a part in helping a business survive through difficult economic times. Bolstering cash flow will also take on added importance as businesses rebuild. Payment terminals powered by better internet connections mean transactions are already faster, but internet speed alone is not enough. Today, terminals can be updated in ways that allow merchants to process those transactions faster still and get funds deposited into bank accounts in batches throughout the day, often completing within the hour. Payment terminals and Big Data With data becoming the bedrock of all modern businesses, it is the Android operating system’s ability to generate such an impressive wealth of data that adds to its compelling proposition. The value of Big Data and analytics to filter large volumes of information and uncover actionable insights is well known to the business world. Useable information can help leaders learn about their customers, make better decisions and, ultimately, produce more revenue. Customer data, for example, makes it possible for a business to learn about the buying behaviours of an individual customer or of defined customer segments. When a business knows the time of day (or night) their customers shop and what type of purchases they make, it becomes easier to plan when inventories are stocked and with what items. Android payment terminals can provide data in a way that offers easy visibility of key trends and which specific hours of the day produce the most sales, allowing businesses to investigate possible reasons and react accordingly. Such knowledge can then be used for a variety of purposes including the ability to upsell to future customers with greater success and the tactical arrangement of items in store. Crucially now, it will also enable businesses to maintain a Covid-safe environment by planning ahead for in-store activity and capacity limits. With hundreds of applications already available to download from the app store, it’s important that SMEs are able to use this scale of choice to their advantage rather than become overwhelmed or distracted by it. Indeed, by taking the time to explore the apps available, smaller businesses can find the tools which allow them to level the playing field by bringing their operational efficiencies in line with larger brands and by leveraging the solutions that allow them to compete on customer service.

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How field research can help retailers reach untapped sales opportunities

Article | April 20, 2020

When you think of field research, you might think of an archeologist bent over a dig site investigating civilizations from the past, excavating the terrain and sifting out important artifacts. In marketing, field research is also about the study of the human experience and uncovering those important pieces of knowledge — but as they pertain to your business. Field research can give you insights into your customers' pain points, what they need to solve their problems, their thoughts on how your product helps or even what where they feel your services might be improved.

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Newgistics is now part of Pitney Bowes, and our combined industry-leading capabilities provide the most proven, scalable and complete suite of commerce solutions to help you go the extra mile in serving your customers.

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