How Marketplaces and Social Media Are Disrupting Global Ecommerce

When companies make plans to expand into new geographies particularly emerging markets like the BRIC nations (Brazil, Russia, India, China)they often consider launching multilingual websites to serve those new global customers.That seems like a smart play. Localized corporate websites are a proven way to market and sell to Western customers who speak a different language. An expertly translated, culturally accurate website can be the foundation for a global e-commerce strategy.However, many tech-savvy, mobile-first customers in emerging markets are not partial to company websites. Instead, they flock to virtual marketplaces hosted by third parties, such as China’s Tmall. They’re also using “Buy” buttons on social media channels as a seamless way to purchase items recommended by friends and family.Read on to learn how you can accelerate your expansion into virtual markets and offsite social commerce.

Spotlight

Tuesday Morning

Tuesday Morning is a national retail chain established in 1974 specializing in both domestic and international closeouts of medium to high-end name brand gifts, luxury home textiles, home furnishings, housewares and seasonal décor. Our treasure hunt shopping experience is characterized by a diverse merchandise selection, with a focus on quality brands and designer names at unparalleled savings of 20-60% off department and specialty store prices. This approach fuels an intense demand for product - creating excitement, anticipation and a heightened sense of urgency for customers who shop our stores across the nation.

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Ecommerce Merchandising

Digital Payments – Preferred Way To Exchange Money

Article | March 18, 2024

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.

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POS Solutions

Realizing Exponential Growth with Top E-commerce Tools

Article | April 4, 2024

Top e-commerce marketing tools help companies provide frictionless shopping experiences to their customers. Discover how leading e-commerce platforms help companies spur inimitable success and ROI. Contents 1. The Strategic Relevance of E-commerce Platforms 2. Prominent Trends in E-commerce Platform Development 3. Top E-Commerce Tools Driving Operational Efficiency and Growth 3.1 FastSpring 3.2 X-Cart 3.3 Emporix 3.4 Elastic Path 3.5 Kibo Commerce 3.6 Cleverbridge 3.7 Vendasta 3.8 BetterCommerce 3.9 CommentSold 3.10 Virto Commerce 4. In a Nutshell 1. The Strategic Relevance of E-commerce Platforms Today's leading e-commerce platforms offer remarkable perks like business expansion, unmatched personalization, and data insights, holding immense strategic relevance for businesses worldwide. The inclination toward digitizing commercial operations has further intensified with varied environmental, economic, or social factors that induce consumers and clients to engage in online shopping and interactions from the comfort of their homes. Leveraging these platforms, firms successfully offer their customers exceptional product varieties, ease of return, and exciting discount offers, elevating their brand image and user satisfaction. Moreover, as essential tools guaranteeing operational excellence, e-commerce platforms are helping businesses optimize their sales performance, providing them with a solid online presence and streamlined purchase processes. With crucial consumer behavior insights, these tools empower companies to fine-tune their product offerings,marketing pursuits, POS techniques, and other strategies. Therefore, investing in the best e-commerce tools and implementing a well-thought-out internet commerce strategy have become imperative for companies to thrive in the digital marketplace and address the shifting consumer demands. 2. Prominent Trends in E-commerce Platform Development Emerging e-commerce platform development trends are optimizing business processes to ensure the best customer experiences. Here’s a glimpse at the prominent trends gaining momentum among e-commerce businesses: Preference for Personalization With the effective implementation of advanced AI technologies and data analytics for marketing enhancement, e-commerce platforms today are affording businesses impressive customization abilities, including personalized product offerings and marketing messages, which secure greater customer satisfaction. The Surge in Mobile Commerce Mobile commerce has become another notable trend in e-commerce platform development, accounting for a considerable part of retail e-commerce sales. Likewise, many e-commerce websites are establishing dedicated mobile apps to offer an easy shopping experience to users across different devices, elevating conversions and brand image. Subscription-based Offerings Subscription services have become more influential in the digital business arena, for they foster customer loyalty toward a brand and ensure long-term relationships with them. Providing consumers with repeated services or product deliveries, these offerings secure a steady revenue stream and help companies engage in sound financial planning due to income predictability. APIs for an Omnipresent Business The present era of e-commerce is especially marked by API-led omnichannel integrations, which facilitate easy data exchange and communication between systems. By simplifying order management, enabling personalized experiences, and unifying data access, APIs help businesses offer seamless shopping experiences to customers across digital touchpoints. Augmentation of Shopping Experiences with AR and VR Today, businesses are more inclined to explore AR and VR technologies because of their ability to provide immersive shopping experiences. From enhancing customer engagement to limiting cart abandonments, such technologies have, therefore, emerged as essential stimulants of sales and revenue growth. Scaling with Headless Commerce Often called the future of digital commerce, headless technology has become a favorite among e-commerce businesses. As the technology provides greater flexibility and scaling, enterprises are increasingly integrating with headless setups, benefitting from limitless personalization and advanced tools. The Growth of Voice and Social Commerce Voice commerce helps businesses offer hands-free shopping experiences to their customers, elevating checkout processes and decreasing cart abandonment. Likewise, social commerce is gaining traction, owing to the employment of social media platforms as search engines. E-commerce platforms, therefore, leverage this impact and drive sales by creating shoppable posts and allowing in-app purchases. Promotion of Sustainable Practices With ‘sustainability’ as the catchphrase, e-commerce companies are endeavoring to highlight their sustainable practices by offering eco-friendly products, contributing to carbon footprint reduction, and providing information regarding sourcing and production processes. 3. Top E-commerce Tools Driving Operational Efficiency and Growth Leading e-commerce marketing tools offer robust technical support to online businesses, helping firms augment productivity and carve a niche in the digital marketplace. Here’s a list of the top e-commerce tools that companies leverage to outshine their competitors: 3.1 FastSpring An ingenious tool for managing subscriptions, payments, and global sales taxes, FastSpring is a comprehensive payment and subscription platform catering specifically to software, SaaS, and online content providers. With its impeccable features, the tool facilitates easy global expansion for companies, helping them handle tax collection in different jurisdictions, streamline functions, and provide excellent purchasing experiences to customers. The notable features of the tool enabling effective e-commerce internationalization include: International Payments: FastSpring ensures exceptional revenue potential and unmatched transaction acceptance rates globally for companies. The tool allows smooth receipt of global payments, entailing single-time purchases, recurring payments, and SaaS subscriptions. Easy Subscription Management: By streamlining subscription management processes, FastSpring further empowers businesses to customize their plans with upgrades, downgrades, trial periods, etc. It augments customer satisfaction through features like pause subscriptions and billing intervals. Matchless Checkout Experiences: Another prominent aspect of the advanced tool is its ability to drive conversions and enhance revenue at the POS through remarkable checkout experiences. Accordingly, by simplifying checkout processes, the tool ensures minimized cart abandonments and promotes customer loyalty. Simplified Tax Compliance: FastSpring’s tax management feature secures complete tax compliance across jurisdictions. This relieves businesses of the burden of handling intricate tax requirements, enabling them to focus on core e-commerce operations. Comprehensive Dashboards for Data Analysis: The innovative tool further offers businesses easy-to-understand analytics dashboards for quick evaluation of subscription and revenue data, helping them leverage crucial customer insights and make well-informed decisions to enhance efficiency. B2B Order Handling: With FastSpring, B2B businesses can simplify their order management processes by combining payment and subscription features with orders. The tool further streamlines billing operations and decreases system complexities. 3.2 X-Cart X-Cart is an enterprise e-commerce platform that helps businesses with their scaling endeavors, securing long-term success and high ROI. It offers API-backed solutions to businesses, allowing them to benefit from featured integrations and customizable design options. It further ensures data-driven growth for companies using robust marketing tools and analytics. Why X-Cart remains a perfect choice for businesses to optimize their operations includes its exceptional features, such as: E-commerce Hosting and Development: X-Cart ensures platforms’ agility and reliability by employing super quick solid-state drives (SSD) for speedy page loading. The tool significantly entails features like a dedicated IP address, regular data backups, PCI-compliant hosting, etc. It offers tailored platform development solutions to businesses, including automated platform updates and maintenance of thoroughly tested online stores. Store Handling and Personalization Services: X-Cart further provides impressive support services to businesses, covering different aspects of customization and store management, such as software installation, log analysis, etc. It also facilitates easy personalization through Template Editor and Template Tweaker options. SEO Benefits: The far-reaching tool improves search rankings and website traffic. Through practical content evaluation, customer analysis, and server optimizations, it promises businesses elevated visibility and drives organic growth. Round-the-Clock Technical Assistance: Significantly, the tool renders timely support at every stage of businesses’ e-commerce journey. The prompt assistance allows companies to address challenges effectively, increasing efficiency and minimizing downtime. 3.3 Emporix Offering compelling features for B2B, B2C, and D2C companies, Emporix offers an innovative commerce orchestration platform that helps businesses elevate their operations, enhance customer experiences, and make real-time modifications based on relevant data insights. With API-first design and cloud-native architecture, the tool notably induces considerable progress for businesses. The key attributes of the forward-thinking e-commerce tool include: Advanced B2B Capabilities: Through its composable architecture, Emporix effectively meets the challenging demands of the B2B world, offering solutions such as catalog management and personalized pricing. The tool further streamlines the quotation management processes and simplifies invoicing with its Purchase Orders feature. Unified Multi-Channel Experience: With Emporix, businesses can leverage a multi-site platform to sell across diverse channels, administer all their online websites from a centralized location, and ensure separated customer data and configurations. Companies can also establish a single master product catalog while handling diverse offerings based on brand, customers, location, and availability. Composable Solutions for B2B Wholesalers and Distributors: Catering to the diverse needs of the wholesale and distribution industry, Emporix offers ultra-modern solutions to companies for handling large-quantity transactions. Accordingly, the tool boasts excellent features like advanced quoting, pricing, and discount capabilities. It further automates processes and allows easy scalability. Success Enabler for Technology-driven Start-ups: With its API-first strategy, the tool helps technology start-ups expedite their software development processes, manage their proprietary IP, and enhance the value of their offerings. 3.4 Elastic Path As a game-changing headless solution, Elastic Path can easily integrate with businesses’ ERP systems as middleware. The platform boasts an API-based design, which renders considerable agility to companies in meeting present-day e-commerce challenges. Essentially, it operates without fixed templates and provides tailorable e-commerce solutions to firms, helping them gain from advanced commerce features and composable architecture. The remarkable properties of Elastic Path include: Greater Autonomy to Merchandisers: Elastic Path transforms traditional product and catalog management, allowing merchandisers to create various product setups without relying on the IT department and quickly catering to changing customer preferences. Superlative Commerce Capabilities: The robust tool boasts excellent commerce capabilities, which companies can leverage to offer consistent pricing, manage product offerings, enable smooth checkouts, and provide unique shopping experiences. Subscriptions Management Solution: With Elastic Path’s API-first subscriptions management feature, companies effectively streamline subscription-based services and extend uniform payment experiences across various geographies, establishing steady revenue streams and elevating customer trust. Ease of Payment: Elastic Path optimizes payment processes and ensures the delivery of consistent payment experiences across various locations and brands, resulting in enhanced sales and customer satisfaction. 3.5 Kibo Commerce Kibo Commerce affords exceptional software solutions to companies, helping them streamline core processes like customer handling, search functions, and inventory management. Using superlative composable technology, the promising tool ensures flexible deployment, decreased fulfillment times, elevated order value, and increased conversion rates. The revolutionary tool, Kibo Commerce, comes with many significant features, such as: Order Management and Dispatch: Kibo Commerce helps businesses coordinate and direct orders effectively, ensuring speedy fulfillment and decreased turnaround times. It optimizes delivery routes and inventory distribution, augmenting operational efficiency and promptly meeting customer demands. Easy Inventory Tracking: Another crucial feature of Kibo Commerce is real-time inventory visibility, which allows companies to check their inventory levels across multiple channels and make well-informed decisions regarding marketing and purchasing strategies. The attribute also benefits POS systems, reflecting current stock levels and ensuring satisfying shopping experiences. Multi-channel Pricing and Promotions: By employing the comprehensive tool, businesses can maintain consistency in promotional and pricing activities across varied sales channels, driving growth and ensuring an exceptional brand image. Catalog and Subscriptions Handling: Kibo Commerce allows businesses to effortlessly manage product attributes, catalogs, and categories, structuring and modifying their product offerings according to market demands. It also streamlines subscription management processes, ensuring prompt fulfillment of recurring orders. Unified Checkouts: The ingenious tool facilitates the integration of cart and checkout processes across various digital touchpoints. The unified feature helps businesses maintain substantial consistencies and limit card abandonments, securing frictionless shopping and high customer loyalty. Intuitive Search Functionality: By proffering user-friendly search capabilities, Kibo Commerce significantly enhances customers’ navigation experience, promoting engagement and making it easy to find products, information, and services. 3.6 Cleverbridge The next-generation e-commerce tool, Cleverbridge, enhances customer lifetime value (CLV) through compelling commerce solutions, empowering businesses to earn considerable financial gains. The tool guarantees frictionless transactions, boasting an impressive uptime and presenting businesses with effective solutions for finance automation, subscription management, global payments, etc. The most prominent components of Cleverbridge include: Subscription APIs Promising Speed to Market: With Cleverbridge, businesses can get their services and products to the market faster by employing innovative subscription APIs and documentation. Businesses can easily integrate subscription options into their offerings, simplifying development endeavors and speeding up time to market. Integrated Payment Solution: Supporting multiple payment options and currencies, Cleverbridge ensures secure financial transactions, fraud protection, adherence to industrial standards, and effortless global expansion. The tool further accommodates various payment preferences, boosting user delight and conversion rates. CLV Growth Engine: Inducing high customer retention, Cleverbridge’s CLV growth engine leverages AI-powered processes to help customer teams ensure high audience engagement. The tool achieves this by automatically reaching customers, effectively upselling, and renewing subscriptions. Wide-ranging E-commerce Solutions: From transaction automation to renewal simplification, Cleverbridge helps companies optimize buying processes by managing administrative tasks, compliance measures, retention marketing, and partner management. This feature lets businesses focus on critical operations, enhancing sales functions and driving higher profits. 3.7 Vendasta Catering to independent software vendors, marketing agencies, and media companies, Vendasta is a comprehensive e-commerce tool that allows reselling and rebranding online services to local business clients. Leveraging this leading-edge tool, companies can widen their service offerings, foster client relationships, and ensure profitable growth. Some of the chief aspects of the forward-thinking tool comprise: Easy Scalability: With Vendasta, users can easily automate repetitive tasks and optimize business operations. These merits allow them to manage a more significant number of projects and clients, ensuring sustained success in the long run. Enhanced Product Offerings and Secure Transactions: The exceptional tool allows users to widen their catalogs by combining their products with premium market solutions. Furthermore, it leverages encrypted billing and payment processes to ensure safe transactions, gaining customer confidence. Task and Project Management: With in-house fulfillment teams, Vendasta allows businesses to offload time-extensive tasks and focus on key operations. Its white-labeled communication feature further promotes easy interaction between clients and fulfillment teams, inducing successful project execution. Its impressive project and task management tools empower companies to organize, track, and prioritize tasks, streamline workflows, and decrease turnaround times. Sales Intelligence: Businesses can benefit from crucial client insights by employing Vendasta, as the tool offers snapshot reports. These reports scan the web for complete operation data, permitting effective identification of growth potential, customization of sales pitches, and building client trust. Personalized Marketing: The remarkable tool further automates marketing tasks and processes to optimize users’ marketing endeavors, ensuring the delivery of tailored content and messages to the target audience. It also allows for the smooth execution of email campaigns, elevating client engagement, and driving operational success. 3.8 BetterCommerce BetterCommerce, a digital market tool, chiefly caters to retailers and D2C brands. It provides composable commerce solutions to users, offering high scalability and allowing them to adapt to shifting consumer demands quickly. With components like a PIM, CMS, order management system and engagement tools, it helps businesses secure excellent buyer journeys. Promising high efficiency, the advanced tool boasts the following features: Extraordinary E-commerce Capabilities: With BetterCommerce, companies can leverage a headless architecture to process transactions, manage product offerings, and deliver excellent shopping experiences to customers across multiple touchpoints. This effective selection of headless architecture helps businesses drive sales and yield financial benefits. Centralized Product Data: The tool entails a splendid product information management (PIM) system, which lets users handle and publish updated product information across multiple listings, ensuring uniformity and preciseness across channels. Agile Content Delivery: The tool uses a headless CMS and renders phenomenal flexibility in content delivery, allowing users to conveniently create, modify, and publish content across digital touchpoints. Performance Insights: BetterCommerce notably encourages sound decision-making by providing crucial insights into customer behavior, sales performance, and marketing efficiency. Such insights further optimize businesses’ strategies and drive profits. 3.9 CommentSold Harnessing the possibilities of video commerce, CommentSold is a pioneering e-commerce solution that boasts live selling technology and redefines customer shopping experiences. The tool offers users engaging virtual experiences and comprises prominent features like Shoppable Videos, Smart Meta Chat Automation, and AI-generated Videos, which enhance productivity, engagement, and profitability. The top attributes that make CommentSold a preferred choice for businesses include: Customized Solutions: With CommentSold, businesses can capitalize on tailored solutions to address present-day business challenges. These include advanced POS systems, marketing automation tools, and warehouse optimization. Live Selling Feature: CommentSold empowers sellers to make excellent sales pitches. It allows companies to interact with customers through live videos, demonstrate products, and answer customer queries, inducing higher customer engagement and product purchases. Advanced POS System: The forward-looking tool comes with the latest POS system, which manages in-store and online sales through an integrated platform, enabling smooth checkout experiences. Inventory Control: Providing an all-inclusive inventory management system, CommentSold automates tasks such as dropshipping and wholesaling and allows businesses to focus on their strengths for augmented efficiency. 3.10 Virto Commerce A pioneering tool, Virto Commerce increases customer retention by providing superlative marketplace solutions to businesses backed by training, consulting, and assistance services. This budget-friendly tool helps companies with their expansion pursuits, rendering solutions, such as Virto Commerce Cloud, Virto Marketplace, etc., and securing high effectiveness. The principal attributes of Virto Commerce entail the following: Support for Decoupled Commerce: Offering a modular architecture and support for headless commerce via API, Virto Commerce allows companies to easily customize different components without impacting the system’s core functionality. It facilitates the management of various channels within the same e-commerce ecosystem. Capacity for Limitless Catalogs: The tool affords infinite catalogs containing myriad products. It allows companies to store product data in physical and online synchronized listings, securing tailored category structures and avoiding data duplication. Customized Offers and Diverse Currency Support: With Virto Commerce, vendors can assess and control their offers, implementing personalized pricing per quantity, discounts, and sales terms. The tool significantly supports diverse currencies, helping businesses scale their operations without hassle. Comprehensive Order Management: Virto Commerce’s Orders feature lets firms simplify their order processing tasks, providing them with complete oversight and notifications for quick order management. 4. In a Nutshell The importance of e-commerce platforms in today's business world can hardly be overstated. From facilitating expansion to helping companies tweak their strategies, leading e-commerce platforms allow unparalleled growth and ROI enhancement. Notably, businesses employ top e-commerce tools, benefitting from unmatched customer experiences and high operational efficiency. Furthermore, with emerging trends like mobile commerce, subscription-based services, voice-enabled shopping, and social commerce, the future of e-commerce holds substantial potential. These trends will transform the way customers buy products and promise further advancements in the sector. In particular, innovations like drone delivery and live shopping technology continue to gain traction, offering even more exciting opportunities to businesses, letting consumers make purchases from anywhere in the world, and driving boosted revenues for e-commerce companies.

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POS Solutions, POS Retail, Ecommerce Merchandising

Point-of-Sale Systems to Emerge as a Necessity for Modern Retailers

Article | June 10, 2024

Innovative POS systems with built-in advanced inventory management and secured payments to mandate their adoption by retailers. For businesses and retailers, conventional cash registers have long been an important part of sales operations during the past few years. But today, the cash registers of even the smallest of businesses are attached to a computer through "point-of-sale" (POS) systems. These novel solutions have garnered huge popularity over traditional cash registers as they not only ring up the sales but also provide crucial and real-time information about the customer and inventory. The importance of POS systems goes way beyond managing transactions at checkout counters across the retail industry. Emphasis on Improving Customer Experience Demands POS Adoption: With a growing fast-paced lifestyle, customers around the world are opting for faster, and more convenient shopping and billing experiences. Reassuring customers that their transactions are secure significantly increases satisfaction and customer loyalty. Since novel POS systems assist in providing faster checkout, flexibility in payment options, highly secured payments, and a seamless billing experience, these POS systems are extensively being adopted by modern retailers. According to a study, retailers across the U.S. lose nearly $45 billion, due to insufficient inventory in stock, and $224 billion, due to excess inventory. POS systems help in managing the inventory, resulting in declining losses by preventing excess or insufficient inventory. An estimate states that, an independent retailer with a $400,000 revenue can cut costs by nearly 10%, saving an average of $40,000 per year. What Comes Next? With technology getting better and new POS solutions like cloud-based, mobile, cashless payment, and others coming out, retailers are extensively installing POS solutions to make it easy for customers to pay. For instance, Veras Retail and ACCEO Solutions Inc., an American company specializing in all types of electronic payment transactions, announced plans to install their respective payment middleware solutions and point-of-sale software solutions in National Stores locations across Puerto Rico and the U.S. Hence, the growing focus on enhancing in-store customer experience and customer retention is mandating modern retailers to deploy POS solutions.

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POS Solutions

Inclination Towards Cloud and mPOS Solutions to Create Tailwind for Evolution

Article | June 30, 2022

A significant transformation has been witnessed across the point of sale (POS) industry over the past few decades. Businesses around the world have updated their payment solutions from stationary credit card readers and conventional cash registers to advanced cloud-based POS systems. In addition, advancements in technology not only provide businesses with additional features but also assist them in keeping track of all transactions and reports in one place. Deepening Inroads Across the POS Sector with Cloud and mPOS Technologies Growing use of mobile devices has reduced the gap between the digital and physical worlds, allowing businesses to take advantage of their digital resources and integrate them into their actual locations. With the advent of cloud-based software and rising demand for highly convenient and secure payment solutions, mPOS devices are gaining huge popularity across e-commerce, hospitality, retail, and other sectors. It is extensively being adopted by service providers to automate the sales process and enable customers to shop online and pay for products ranging from restaurant meals to luxury items and even cars. Citing this trend, the number of mPOS users is estimated to reach 85.6 million across the U.S. by the end of 2025. The average mobile transaction value is forecast to rise from around $7,000, as reported in 2020, to $11,755 by 2025, as per a study by Statista. With 22% of current retail POS systems already on the cloud and 29% of businesses aiming to shift towards using cloud-based systems by 2024, demand for these advanced POS solutions is estimated to exhibit robust growth worldwide. In fact, it is anticipated that the cloud POS industry will total US$6 billion by 2025. Emphasis on New Product Launches to Transform the POS Industry To stay ahead of the competitors in the POS industry, more and more companies are investing in launching advanced technologies and solutions and aiming to forge partnerships with numerous payment channels. For instance, in 2022, Worldline, a French multinational payment and transactional services company, announced the introduction of a highly advanced LINUX-based 4G POS terminal. The POS system is integrated with a Dual-Core Cortex processor, LINURA LP 7220 with the highest security protocol, a resistive touch screen, and 256MB of RAM to provide an enhanced in-store digital payments experience in India. Similarly, well-known POS service providers are focusing on adding new features such as multiple payment options, loyalty programs, tracking employee productivity, and other things to help their clients improve their customers' experiences and gain a competitive edge. The Way Ahead The importance of having an effective POS solution is growing to assist businesses to manage money, staying organized, and maintaining customer relations. With increasing research & development activities and the introduction of novel POS solutions such as Buy Now Pay Later (BNPL), the industry will continue to experience transformation over the forthcoming years.

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Spotlight

Tuesday Morning

Tuesday Morning is a national retail chain established in 1974 specializing in both domestic and international closeouts of medium to high-end name brand gifts, luxury home textiles, home furnishings, housewares and seasonal décor. Our treasure hunt shopping experience is characterized by a diverse merchandise selection, with a focus on quality brands and designer names at unparalleled savings of 20-60% off department and specialty store prices. This approach fuels an intense demand for product - creating excitement, anticipation and a heightened sense of urgency for customers who shop our stores across the nation.

Related News

POS Retail

Assembly Acquires PipeCandy, a Leading eCommerce Market Data and Intelligence Provider

Assembly | April 26, 2022

Assembly announced the acquisition of PipeCandy. Assembly is an eCommerce software platform with a global footprint that powers market-leading products such as Helium 10, Pacvue, and Refersion. PipeCandy is the global leader in vertical DaaS and market intelligence, tracking information on 5.4 million online businesses. "With PipeCandy, we now unlock a 360-degree view of eCcommerce performance of brands. As a result, PipeCandy has the best data set on DTC eCommerce in the industry and Assembly is now poised to be the authority of omni-channel eCommerce market intelligence." Ben Collier, Head of Product at Assembly PipeCandy analyzes the worldwide direct-to-consumer market's complex data sets and provides actionable insights to marketers, investors, analysts, and sales teams at top logistics, technology, and financial organizations. Ashwin Ramasamy, the co-founder of PipeCandy, said, "We quintupled our coverage through 2021 and our customers include some of the most prominent companies and brands in the lending, financial services, SaaS, and logistics industries. Being a product in the Assembly platform will allow us to solidify our position as the largest, cleanest and most accurate dataset on eCommerce and DTC companies, and scale our product and business insight offerings for brands and eCommerce operators." Along with the purchase, PipeCandy recently opened a first-of-its-kind Data Center of Excellence, where product managers, data scientists, data UI designers, and application developers collaborate to swiftly develop omnichannel insight solutions.

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POS Retail

Neiman Marcus Group Celebrates Earth Month with In-Store Activations and Speaking Events Reinforcing its 2025 ESG Goals

Neiman Marcus Group | April 23, 2022

To celebrate Earth Month, Neiman Marcus Group is proud to announce new initiatives, partnerships, and in-store activations that will further the organization's continued progress against its Environmental Social Governance (ESG) strategy, Our Journey to Revolutionize Impact. "We are on a journey to revolutionize impact, and this includes setting meaningful ESG goals. The fashion industry must take steps toward a commitment to ESG and transparency to consumers, stakeholders, and the government. We are proud to join hands with our brand partners and other organizations to increase awareness and inspire action within our industry. As we move closer to our 2025 goals outlined in our recent ESG report, we look forward to continuing the momentum we've made to minimize the impact of how we serve our clients through our digital channels, stores, and supply chain, as well as the experiences we create and the products we sell." Geoffroy van Raemdonck, Chief Executive Officer, Neiman Marcus Group As part of its efforts to reduce Scope 1 & 2 emissions by 50% by 2025 and procure 100% renewable energy use by 2030, this month, NMG partnered with Trane® by Trane Technologies to replace natural gas-powered chillers with two new 500-ton water-cooled Trane® chillers at their iconic Bergdorf Goodman's Women's Store, located in the heart of New York City's famed retail district. This installation utilized innovative, energy-efficient decarbonization technology that enabled the retailer to eliminate natural gas use, electrify the building, and procure a new renewable energy contract to power the store's operations. The move will contribute to New York City's goal of reaching net-zero greenhouse gas emissions by 2050 while keeping shoppers cool and comfortable. Meanwhile, Neiman Marcus stores across the U.S. are driving progress toward the company's goal to partner with customers to raise an additional $3,000,000 for Heart of Neiman Marcus Foundation grantees through point-of-sale (POS) fundraising. In March, the retailer began a POS fundraising campaign for the Fashion Scholarship Fund (FSF) that invites customers and associates to donate in-store and online through April 30. Proceeds from the campaign will fund creating a new NMG x FSF scholarship for students aspiring to careers in sustainable and ethical fashion. The effort has raised enough money to fund at least seven NMG x FSF scholars in the partnership's first year. As NMG seeks to increase revenue from sustainable and ethical products by 2025, it is also proud to announce the upcoming launch of the new 'Fashioned for Change' and 'Conscious Curation' edits at Neiman Marcus and Bergdorf Goodman. These edits will identify items with preferred product attributes made with sustainable materials, including bio-based vegan leathers, as well as products that are responsibly manufactured, give back philanthropically, are made by diverse-owned brands, or promote enhanced transparency through digital product passports from groups like EON. Products from participating brand partners will be highlighted on NeimanMarcus.com and BergdorfGoodman.com and will be considered for exposure in highly visible placements via in-store and digital channels. To explore the new 'Fashioned for Change' edit at Neiman Marcus, visit here. The 'Conscious Curation' edit at Bergdorf Goodman will launch in the upcoming months. NMG will be hosting and sponsoring a variety of speaking events throughout the month to socialize the efforts above with associates, customers, and the broader fashion industry. To build on last year's conversation with Elizabeth Cline, author of 'The Conscious Closet,' NMG is hosting an all-associate event on April 26 with Aja Barber, author of 'Consumed.' This talk will take a deep dive into Barber's book, which explores the intersection of climate change, colonialism, and consumerism in the fashion industry. Customers near Neiman Marcus Northbrook in Chicago will also be invited to attend a panel discussion on social and environmental issues facing the fashion industry and its next generation of talent with industry trailblazer Eileen Fisher and Melissa Gamble, a professor at Columbia College of Chicago – an FSF member school. Finally, to continue educating and amplifying the call for sustainable practices in the broader industry, NMG is excited to sponsor the Women's Wear Daily Sustainability Summit and the Sustainable Fashion Forum fireside chat, which will be held this month. NMG executives will host panels and fireside chats about topics surrounding circularity in fashion, fur and leather alternatives, the role of technology in sustainability, and more, along with innovators in the space from pioneering organizations like FASHIONPHILE, Prota Fiori, and EON. About The Neiman Marcus Group, LLC Neiman Marcus Group is a relationship business that leads with love in everything we do for our customers, associates, brand partners, and communities. Our legacy of innovating and our culture of Belonging guide our roadmap for Revolutionizing Luxury Experiences. As one of the largest multi-brand luxury retailers in the U.S., with the world's most desirable brand partners, we're delivering exceptional products and intelligent services, enabled by our investments in data and technology. Through the expertise of our 9,000+ associates, we deliver and scale a personalized luxury experience across our three channels of in-store, eCommerce, and remote selling. Our NMG|Way culture, powered by our people, combines individual talents into a collective strength to make life extraordinary. Our brands include Neiman Marcus, Bergdorf Goodman, Neiman Marcus Last Call, and Horchow. About Trane Technologies Trane Technologies is a global climate innovator. Through our strategic brands, Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes, and transportation. We have also set bold 2030 Sustainability Commitments for ourselves and our customers. Through our Gigaton Challenge, we have committed to reducing our customers' carbon emissions by one gigaton or, one billion metric tons by the year 2030. About Trane Trane by Trane Technologies, a global climate innovator – creates comfortable, energy-efficient indoor environments for commercial and residential applications.

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POS Solutions

Rezolve and Computop Announce Strategic Partnership on Mobile Engagement and Payments

Rezolve | April 22, 2022

Rezolve, a leader in mobile commerce and engagement, and Computop, a leading payment service provider, today announced a strategic partnership agreement to combine their respective strengths in mobile engagement and payment processing to improve service for users of both globally. As part of the agreement, Computop will offer Rezolve’s technology to its more than 15,000 global clients, providing them with new mobile engagement and commerce tools. Rezolve, an enterprise SaaS platform designed from the ground up specifically for mobile commerce and engagement, is positioned to become the engine of mobile engagement that enables the transformation of interactions between consumers and merchants on mobile devices. Computop helps retailers and service providers to process their omnichannel payments securely and conveniently worldwide and was the first payment service provider in Germany, and among the first globally, to obtain PCI P2PE certification, or Point-to-Point Encryption certification. “We are excited to announce this partnership with Computop, a German leader in payment services around the world. This represents a great opportunity for Rezolve to extend our mobile engagement technology to their impressive list of clients around the world.” Dan Wagner, Rezolve’s Chairman and CEO Computop’s large international merchant and global marketplace partners are in industries such as retail, mobility, travel and gaming. Global customers include C&A, Fossil, Metro, Rakuten, Samsung, SIXT and Swarovski. Computop focuses on global omnichannel payment, fraud prevention, global POS, global e-commerce, in-app payments, local payments worldwide, risk management, reconciliation and accounting solutions. "For Computop this is exciting because our business model depends on the success of our customers,” said Ralf Gladis, founder and CEO of Computop. “We believe that our merchants can be more successful if they can reach out to customers with Rezolve. With Rezolve’s mobile technology our merchants will be able to trigger their customers wherever they are.” After buying EOS Payments from Otto Group in 2013, Computop now processes payments for all 100 Otto retail brands. In cooperation with its network of partners, which it has expanded over many years, Computop offers a comprehensive omnichannel solution that is geared to the needs of today's market and provides merchants with seamlessly integrated payment processes. Computop’s Shop modules provide worry-free integration with shop systems like Salesforce/Demandware, SAP hybris, Intershop, Magento, Oxid, Shopware, Spryker, and 20 others. With Rezolve, merchants can lead consumers directly to special offers by using mobile technology including geofencing, notifications on smartphones, Bluetooth beacons, or with watermarked advertisements. Rezolve currently has go-to-market partner agreements with leading global players that have a combined global reach of over 20 million merchants and over 1 billion consumers across China, Asia and Europe. Rezolve’s platform already serves over 196,000 of those merchants today. For Computop customers the partnership means it will be easy to use Rezolve, because their payment processing is already integrated with Rezolve’s technology. Thousands of Computop customers can now easily use Rezolve. Meanwhile, for Rezolve, the Computop Paygate is a payment platform that offers access to more than 60 acquirers worldwide. Therefore, merchants can use their existing acquiring contracts for credit cards. About Rezolve Rezolve is taking retailing into a new era of customer engagement with a proprietary mobile engagement platform. The Rezolve Platform is a powerful set of mobile commerce and engagement capabilities that provide mobile application vendors with a range of valuable commercial opportunities that can be realized without having to develop code, host operations or manage security. The Rezolve Inside SDK allows mobile application vendors to quickly deliver innovation for their consumers into existing or new mobile apps. Rezolve was founded in 2016, is headquartered in London, UK and has offices in China, India, Taiwan, Germany, Spain and Mexico. About Computop As one of the very first payment service providers, Computop offers its customers around the world local and innovative omnichannel solutions for payment processing and fraud prevention. The internally developed Computop Paygate payment platform enables seamless integrated payment processes for e-commerce, at POS and on mobile devices. Retailers and service providers have the flexibility and freedom to choose from over 350 payment methods enabling them to specifically tailor their payment options per country. Technologies such as biometric authentication and self-learning algorithms improve security and convenience for retailers and consumers alike.

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POS Retail

Assembly Acquires PipeCandy, a Leading eCommerce Market Data and Intelligence Provider

Assembly | April 26, 2022

Assembly announced the acquisition of PipeCandy. Assembly is an eCommerce software platform with a global footprint that powers market-leading products such as Helium 10, Pacvue, and Refersion. PipeCandy is the global leader in vertical DaaS and market intelligence, tracking information on 5.4 million online businesses. "With PipeCandy, we now unlock a 360-degree view of eCcommerce performance of brands. As a result, PipeCandy has the best data set on DTC eCommerce in the industry and Assembly is now poised to be the authority of omni-channel eCommerce market intelligence." Ben Collier, Head of Product at Assembly PipeCandy analyzes the worldwide direct-to-consumer market's complex data sets and provides actionable insights to marketers, investors, analysts, and sales teams at top logistics, technology, and financial organizations. Ashwin Ramasamy, the co-founder of PipeCandy, said, "We quintupled our coverage through 2021 and our customers include some of the most prominent companies and brands in the lending, financial services, SaaS, and logistics industries. Being a product in the Assembly platform will allow us to solidify our position as the largest, cleanest and most accurate dataset on eCommerce and DTC companies, and scale our product and business insight offerings for brands and eCommerce operators." Along with the purchase, PipeCandy recently opened a first-of-its-kind Data Center of Excellence, where product managers, data scientists, data UI designers, and application developers collaborate to swiftly develop omnichannel insight solutions.

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POS Retail

Neiman Marcus Group Celebrates Earth Month with In-Store Activations and Speaking Events Reinforcing its 2025 ESG Goals

Neiman Marcus Group | April 23, 2022

To celebrate Earth Month, Neiman Marcus Group is proud to announce new initiatives, partnerships, and in-store activations that will further the organization's continued progress against its Environmental Social Governance (ESG) strategy, Our Journey to Revolutionize Impact. "We are on a journey to revolutionize impact, and this includes setting meaningful ESG goals. The fashion industry must take steps toward a commitment to ESG and transparency to consumers, stakeholders, and the government. We are proud to join hands with our brand partners and other organizations to increase awareness and inspire action within our industry. As we move closer to our 2025 goals outlined in our recent ESG report, we look forward to continuing the momentum we've made to minimize the impact of how we serve our clients through our digital channels, stores, and supply chain, as well as the experiences we create and the products we sell." Geoffroy van Raemdonck, Chief Executive Officer, Neiman Marcus Group As part of its efforts to reduce Scope 1 & 2 emissions by 50% by 2025 and procure 100% renewable energy use by 2030, this month, NMG partnered with Trane® by Trane Technologies to replace natural gas-powered chillers with two new 500-ton water-cooled Trane® chillers at their iconic Bergdorf Goodman's Women's Store, located in the heart of New York City's famed retail district. This installation utilized innovative, energy-efficient decarbonization technology that enabled the retailer to eliminate natural gas use, electrify the building, and procure a new renewable energy contract to power the store's operations. The move will contribute to New York City's goal of reaching net-zero greenhouse gas emissions by 2050 while keeping shoppers cool and comfortable. Meanwhile, Neiman Marcus stores across the U.S. are driving progress toward the company's goal to partner with customers to raise an additional $3,000,000 for Heart of Neiman Marcus Foundation grantees through point-of-sale (POS) fundraising. In March, the retailer began a POS fundraising campaign for the Fashion Scholarship Fund (FSF) that invites customers and associates to donate in-store and online through April 30. Proceeds from the campaign will fund creating a new NMG x FSF scholarship for students aspiring to careers in sustainable and ethical fashion. The effort has raised enough money to fund at least seven NMG x FSF scholars in the partnership's first year. As NMG seeks to increase revenue from sustainable and ethical products by 2025, it is also proud to announce the upcoming launch of the new 'Fashioned for Change' and 'Conscious Curation' edits at Neiman Marcus and Bergdorf Goodman. These edits will identify items with preferred product attributes made with sustainable materials, including bio-based vegan leathers, as well as products that are responsibly manufactured, give back philanthropically, are made by diverse-owned brands, or promote enhanced transparency through digital product passports from groups like EON. Products from participating brand partners will be highlighted on NeimanMarcus.com and BergdorfGoodman.com and will be considered for exposure in highly visible placements via in-store and digital channels. To explore the new 'Fashioned for Change' edit at Neiman Marcus, visit here. The 'Conscious Curation' edit at Bergdorf Goodman will launch in the upcoming months. NMG will be hosting and sponsoring a variety of speaking events throughout the month to socialize the efforts above with associates, customers, and the broader fashion industry. To build on last year's conversation with Elizabeth Cline, author of 'The Conscious Closet,' NMG is hosting an all-associate event on April 26 with Aja Barber, author of 'Consumed.' This talk will take a deep dive into Barber's book, which explores the intersection of climate change, colonialism, and consumerism in the fashion industry. Customers near Neiman Marcus Northbrook in Chicago will also be invited to attend a panel discussion on social and environmental issues facing the fashion industry and its next generation of talent with industry trailblazer Eileen Fisher and Melissa Gamble, a professor at Columbia College of Chicago – an FSF member school. Finally, to continue educating and amplifying the call for sustainable practices in the broader industry, NMG is excited to sponsor the Women's Wear Daily Sustainability Summit and the Sustainable Fashion Forum fireside chat, which will be held this month. NMG executives will host panels and fireside chats about topics surrounding circularity in fashion, fur and leather alternatives, the role of technology in sustainability, and more, along with innovators in the space from pioneering organizations like FASHIONPHILE, Prota Fiori, and EON. About The Neiman Marcus Group, LLC Neiman Marcus Group is a relationship business that leads with love in everything we do for our customers, associates, brand partners, and communities. Our legacy of innovating and our culture of Belonging guide our roadmap for Revolutionizing Luxury Experiences. As one of the largest multi-brand luxury retailers in the U.S., with the world's most desirable brand partners, we're delivering exceptional products and intelligent services, enabled by our investments in data and technology. Through the expertise of our 9,000+ associates, we deliver and scale a personalized luxury experience across our three channels of in-store, eCommerce, and remote selling. Our NMG|Way culture, powered by our people, combines individual talents into a collective strength to make life extraordinary. Our brands include Neiman Marcus, Bergdorf Goodman, Neiman Marcus Last Call, and Horchow. About Trane Technologies Trane Technologies is a global climate innovator. Through our strategic brands, Trane® and Thermo King®, and our portfolio of environmentally responsible products and services, we bring efficient and sustainable climate solutions to buildings, homes, and transportation. We have also set bold 2030 Sustainability Commitments for ourselves and our customers. Through our Gigaton Challenge, we have committed to reducing our customers' carbon emissions by one gigaton or, one billion metric tons by the year 2030. About Trane Trane by Trane Technologies, a global climate innovator – creates comfortable, energy-efficient indoor environments for commercial and residential applications.

Read More

POS Solutions

Rezolve and Computop Announce Strategic Partnership on Mobile Engagement and Payments

Rezolve | April 22, 2022

Rezolve, a leader in mobile commerce and engagement, and Computop, a leading payment service provider, today announced a strategic partnership agreement to combine their respective strengths in mobile engagement and payment processing to improve service for users of both globally. As part of the agreement, Computop will offer Rezolve’s technology to its more than 15,000 global clients, providing them with new mobile engagement and commerce tools. Rezolve, an enterprise SaaS platform designed from the ground up specifically for mobile commerce and engagement, is positioned to become the engine of mobile engagement that enables the transformation of interactions between consumers and merchants on mobile devices. Computop helps retailers and service providers to process their omnichannel payments securely and conveniently worldwide and was the first payment service provider in Germany, and among the first globally, to obtain PCI P2PE certification, or Point-to-Point Encryption certification. “We are excited to announce this partnership with Computop, a German leader in payment services around the world. This represents a great opportunity for Rezolve to extend our mobile engagement technology to their impressive list of clients around the world.” Dan Wagner, Rezolve’s Chairman and CEO Computop’s large international merchant and global marketplace partners are in industries such as retail, mobility, travel and gaming. Global customers include C&A, Fossil, Metro, Rakuten, Samsung, SIXT and Swarovski. Computop focuses on global omnichannel payment, fraud prevention, global POS, global e-commerce, in-app payments, local payments worldwide, risk management, reconciliation and accounting solutions. "For Computop this is exciting because our business model depends on the success of our customers,” said Ralf Gladis, founder and CEO of Computop. “We believe that our merchants can be more successful if they can reach out to customers with Rezolve. With Rezolve’s mobile technology our merchants will be able to trigger their customers wherever they are.” After buying EOS Payments from Otto Group in 2013, Computop now processes payments for all 100 Otto retail brands. In cooperation with its network of partners, which it has expanded over many years, Computop offers a comprehensive omnichannel solution that is geared to the needs of today's market and provides merchants with seamlessly integrated payment processes. Computop’s Shop modules provide worry-free integration with shop systems like Salesforce/Demandware, SAP hybris, Intershop, Magento, Oxid, Shopware, Spryker, and 20 others. With Rezolve, merchants can lead consumers directly to special offers by using mobile technology including geofencing, notifications on smartphones, Bluetooth beacons, or with watermarked advertisements. Rezolve currently has go-to-market partner agreements with leading global players that have a combined global reach of over 20 million merchants and over 1 billion consumers across China, Asia and Europe. Rezolve’s platform already serves over 196,000 of those merchants today. For Computop customers the partnership means it will be easy to use Rezolve, because their payment processing is already integrated with Rezolve’s technology. Thousands of Computop customers can now easily use Rezolve. Meanwhile, for Rezolve, the Computop Paygate is a payment platform that offers access to more than 60 acquirers worldwide. Therefore, merchants can use their existing acquiring contracts for credit cards. About Rezolve Rezolve is taking retailing into a new era of customer engagement with a proprietary mobile engagement platform. The Rezolve Platform is a powerful set of mobile commerce and engagement capabilities that provide mobile application vendors with a range of valuable commercial opportunities that can be realized without having to develop code, host operations or manage security. The Rezolve Inside SDK allows mobile application vendors to quickly deliver innovation for their consumers into existing or new mobile apps. Rezolve was founded in 2016, is headquartered in London, UK and has offices in China, India, Taiwan, Germany, Spain and Mexico. About Computop As one of the very first payment service providers, Computop offers its customers around the world local and innovative omnichannel solutions for payment processing and fraud prevention. The internally developed Computop Paygate payment platform enables seamless integrated payment processes for e-commerce, at POS and on mobile devices. Retailers and service providers have the flexibility and freedom to choose from over 350 payment methods enabling them to specifically tailor their payment options per country. Technologies such as biometric authentication and self-learning algorithms improve security and convenience for retailers and consumers alike.

Read More

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