WELCOME TO The POS REPORT
How to Scale an E-commerce Business
WALDEMAR MOSS | August 6, 2019
Barclaycard, part of Barclays Bank UK PLC, is a leading global payment business that helps consumers, retailers and businesses to make and take payments flexibly, and to access short-term credit and point of sale finance.
Article | March 10, 2020
With retail stocks hammered in the coronavirus-driven market selloff, should you buy the dip? Some retailers, like Costco, may see upside from the panic. But, there are scores of retailers who could see diminished profits in the near term. Why? Supply shocks, for one. Also, if this crisis causes a recession, expect to see decreased consumer spending. The brick-and-mortar retail sector is already feeling a squeeze thanks to Amazon (NASDAQ:AMZN). In other words, the “retail apocalypse.” This may be a more material factor for smaller, niche retailers. However, even major retailers struggle to stay relevant in the face of e-commerce growth.
Last July, a small group representing the giants of the tech industry gathered in the seat of US government, Washington DC. They probably didn’t want to be there. Congress had summoned their employers Apple, Facebook, Google, and Amazon to answer questions about the command they hold over the markets they operate in. On Amazon’s behalf, associate general counsel Nate Sutton spoke in defense of his employer’s role in US retail. Throughout, he argued that Amazon isn’t so powerful as to be able to control prices and stifle competition. Amazon, he pointed out, makes up less than 1% of retail globally. In the US, it accounts for around 4% of retail. In fact, Walmart is much larger than Amazon, he said. In terms of sales, Sutton is right. Walmart reported $510 billion in total sales across its US and international segments in the 2019 fiscal year, versus Amazon’s $233 billion in roughly the same period.
One of the most transformative customer experiences is happening at the point of sale retail consumers are tapping and swiping more than ever compared to handing over cold hard cash. A driving force is the innovation taking place in retail payment as the cashierless storefront slowly takes root and young shoppers don't want to be bothered with even the credit card transaction time. Retail Customer Experience reached out to Mike Rittler, general manager of retail card services and personal lending at TD Bank, to get his perspective on retail POS, trends, consumer expectations and the retail purchase experience.
Attendees and speakers of PSFK's World Retail Innovation Week expect a “great reset” in attitudes, morals and behavior, both on a personal and corporate level Last week, we ran an e-festival with over 100 talks across different topics related to innovation in retail, along the customer experience journey and beyond. For many attendees and the speakers themselves the talks provided moments where they could both focus on the future and deal with today. With speakers from brands, retailers, solutions providers, tech firms and consultants, what did the audience really learn about the future at World Retail Innovation Week? We ran lunchtime town-hall sessions each day to hear from the professionals attending WRIW events and they told us about a number of themes that they believe will drive retailers,
Keep me plugged in with the best
Join thousands of your peers and receive our weekly newsletter with the latest news, industry events, customer insights, and market intelligence.
Put your news, events, company, and promotional content in front of thousands of your peers and potential customers.
Not a member yet? Not a problem, Sign Up
Sign up to contribute and publish your news, events, brand, and content with the community for FREE