5 Retail Updates you Need to Know Today

Aloha folks, before we jump into this week’s Retail Wrap Up we need to address the elephant in the room; apologies for the radio silence, we’ve missed you! The last few weeks have been beyond busy and we’ve all been bustling to make Booodl beautiful. But now we’re back, and we’re offering up our favourite retail tech news stories gathered from around the world. Sit back, relax and enjoy your long weekend!

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1) The lowdown on Twitter’s Buy Button

The Twitterverse has been abuzz with rumblings of a Buy Button. Well, in the last few days it has been made available to THOUSANDS of U.S. retailers! This offering is aided in part by a very smart partnership with three major e-commerce platforms: Shopify, Bigcommerce and Demandware. On top of this Twitter has also partnered with Stripe, the guys we also use, to streamline the purchase flow even further. Now that’s something to tweet about! http://goo.gl/2U4sa3

2) Target’s tech transformation

Target is ramping up their retail tech infrastructure; scrapping their outdated systems to better cater for shoppers’ modern needs. They’re teaming up with Techstars, a startup accelerator, to ensure they’re at the forefront of retail innovation. The two companies will start accepting applications from retail-centric startups by the end of the year, and together will help test and perfect these solutions. But wait, it gets better! They’re also working on a tech focused “concept store” that may (they’re keeping very mum on the details) feature robots and other sci-fi enhancements. They clearly want to be leading the future of retail! http://goo.gl/guwmnn

3) YouTube evolves shoppable ads

Aaaand YouTube can also be added to the growing list of shoppable social networks. They’re wholeheartedly embracing e-commerce with the introduction of Shopping ads, a tool that will allow viewers to buy the featured products within a video. These ads will be more native than their current shoppable TrueView product cards, and will open up an additional revenue stream for content creators. Learn more here: http://goo.gl/Gy8jRL

4) America introduces new credit cards 

America is in the process of rolling out EMV based credit cards and the deadline for retailers to update their EFTPOS has just passed. While checkout will take a few seconds longer, the implementation of these new microchip based cards is an effort to curb credit card fraud. The chips hold data specific to each purchase so duplicating the card will now be much harder. Owen Wild, security marketing director at NCR, said “We have not seen a proven data breach of a chip card in an EMV market since it’s been in place.” For those stores that haven’t met the update deadline, they will be footing the bill for any fraudulent activities. Harsh but fair. Read more here: http://goo.gl/vFwTbp

5) Digital shopping and the holiday season

According to Retail Dive, digital shopping is expected to rise this holiday season, driving $434 billion in retail store sales. Interestingly, people are expected to kick their shopping off online but actually head in-store to pick up. According to Deloitte, 80% of shoppers touch base with a retailer or brand on a digital device before they head in-store. Rod Sides, vice chairmen of Deloitte LLP, said “Retailers that are likely to come out ahead this holiday season are the ones connecting the dots between their digital channels and their stores, rather than focusing solely on the online ‘Buy’ button.” There’s no better way to do this then via Booodl! http://goo.gl/uJOEAC

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