Among the key trends in financial services in 2024 — as will be the case for the next year (and beyond) — has been the shift to open banking. The premise and the promise of open banking is this: Individuals have the ultimate control over...
Saks Global has completed its previously announced acquisition of Neiman Marcus Group for a total enterprise value of $2.7 billion. This acquisition brings together the luxury retail brands Neiman Marcus, Bergdorf Goodman, Saks Fifth Avenue and Saks Off 5th, with each continuing to operate under...
As consumers finish up their holiday shopping for this year, retailers reportedly expect to see a lot of returns in January. On average, retailers expect this holiday shopping season’s return rate to be 17% higher than usual, CNBC reported Tuesday (Dec. 24), citing data from...
Seasonal jobs are reportedly shifting from retail stores to eCommerce fulfillment centers as businesses respond to consumers’ changing holiday shopping habits. While the number of seasonal jobs at retailers dropped from 564,000 last year to 520,000 this year, Amazon added 250,000 seasonal positions and UPS...
This year was marked by a steady drumbeat of regulations and rules — and requests from regulators for information and comments from financial services players — touching on everything from credit card late fees to data sharing. But 2025 seems more like a wild card....
The retail sector is witnessing changes, with direct-to-consumer (D2C) brands leading innovation. As 2024 wanes, key trends influence how consumers interact with brands and make purchasing decisions. From artificial intelligence-powered personalization to a greater emphasis on sustainability, D2C retailers are adjusting to the changing expectations...
Rocket Homes said Monday (Dec. 23) that it “will not rest” until it sees the dismissal of Consumer Financial Protection Bureau (CFPB) allegations that were announced Monday. The CFPB sued Rocket Homes, Jason Mitchell and Mitchell’s real estate brokerage firm, which does business as the Jason Mitchell Group,...
As consumers rely more on online shopping, the importance of optimizing the payment process has never been more evident. With peak shopping periods like the holidays driving even higher consumer demand, retailers are focusing on pre-purchase testing and offering flexible payment options to ensure smooth...
The Nordstrom family now owns the department store chain bearing their name. Erik, Pete and Jamie Nordstrom and other members of their family, along with Mexican retailer Puerto de Liverpool, announced a deal Monday (Dec. 26) to acquire all of Nordstrom’s outstanding common stock. The...
