This week, Amazon increased its investments in artificial intelligence, as the eCommerce giant and rival Walmart adopt new technologies to remain competitive. Amazon’s $1 billion Industrial Innovation Fund is ramping up investments in companies that combine AI and robotics this year to boost efficiency throughout its logistical network, Franziska Bossart, head of the corporate...
With the emergence of omnichannel shopping reshaping consumers’ expectations of brick-and-mortar stores, Best Buy is reconceptualizing its physical spaces. On a call with analysts Thursday (Feb. 29) discussing the consumer electronics retail giant’s fourth-quarter fiscal 2024 earnings results, CEO Corie Barry explained that with consumers no longer solely dependent on stores...
The iPhone is still apparently a tough sell for Chinese consumers. As Bloomberg News reported Thursday (Feb. 29), resellers in China are marking down the latest version of Apple’s flagship product by as much as $180, a sign of an unusually long period of reduced demand. The...
As retailers look to secure consumers’ loyalty both online and in stores, PYMNTS Intelligence research finds that digital deals and discounts go a long way toward meeting shoppers’ evolving expectations. By the Numbers The PYMNTS Intelligence study “2024 Global Digital Shopping Index: The Rise of...
The TJX Companies is seeing young consumers join the mix, suggesting that Generation Z shoppers are looking for bargains. The off-price retail company, parent of TJ Maxx, Marshalls, HomeGoods and others, shared on a call with analysts Wednesday (Feb. 28) discussing its fourth-quarter and full-year...
As grocery slowly catches up to other retail categories in digital adoption, Thrive Market is seeing mobile gain share. In an interview with PYMNTS following the online grocer’s recent launch of Supplemental Nutrition Assistance Program (SNAP) Electronic Benefits Transfer (EBT) acceptance, Thrive Market Co-founder and...
Wendy’s wants diners to know it’s not raising prices, despite what they may have heard. When reports emerged recently that the fast-food chain was going to test dynamic pricing — or surge pricing, the practice of hiking prices when demand is at its highest level — a social...
With consumers increasingly expecting their shoppable media experiences to flow more seamlessly between entertainment and commerce, traditional shopping networks such as HSN and QVC are seeing revenue declines. Qurate Retail, parent company of QVC, HSN and other brands, reported in its fourth-quarter and full-year 2023...
Retail brand management company Trax has debuted its signal-based merchandising (SBM) solution. The new tool lets brands gain visibility down to the individual product level, the company said in a Tuesday (Feb. 27) news release, engaging shoppers in-store to gather data points so brands can...
