Welcome to this week’s Payments NEXT newsletter with lots of pre-Black Friday and holiday sales data and predictions, including a 14% increase in spending this year and online sales expected to reach $124 billion. We’ve got a look at how Sears missed the e-commerce and mobile sales bandwagon and 7-Eleven’ new hybrid cashierless checkout system. Our payments news roundup includes Amazon’s first-ever holiday toy catalog, how shoppers are fed up with Black Friday crowds, organized retail crime data and much more.
Experian says 2018 holiday shoppers plan to spend 14% more
Experian‘s 2018 Holiday Survey shows holiday shoppers are in a generally positive mood about holiday shopping and plan to spend 14% more this year than in 2017. The 2018 survey provides useful insight into shoppers’ thoughts on spending plans, budgets and interesting differences between the shopper generations. Read more…
US online holiday sales will reach a record $124 billion
Adobe is forecasting a record $124 billion in US online sales during the 2018 holiday sales season. Based on Adobe Analytics data, Adobe says online sales will increase by 14.8%, totaling $124.1 billion, while offline retail spending is expected to increase a modest 2.7%. Sales on Cyber Monday alone could hit $7.7 billion, record and up 17.6% over last year. Read more…
Why Sears sagged in the e-commerce economy
Founded in Chicago in 1892, Sears, Roebuck & Company began business as a mail order catalog company. It began opening stores in the US in 1925 with its first store in Evansville, Indiana and was the largest-selling US retailer until Walmart surpassed it in 1989. Sears fall from grace and success has been well told leading up to today’s last-ditch fight for survival but it’s interesting to look at how e-commerce may have saved the company. Read more…
7-Eleven introduces hybrid mobile cashierless checkout
In 14 stores in its Dallas headquarters market, 7-Eleven is testing a mobile cashierless checkout app called Scan and Pay. Customers can pick up a Slurpee, snacks and other items, scan the product barcodes with a mobile app, pay by your favorite payment provider, display a QR code from your phone to a cashier-less checkout “confirmation station” in the store and exit. Read more…
Nov 9 Global payments news roundup
Here’s the global payments news that got our attention this week, curated and provided for your weekend reading. Look for plenty of pre-Black Friday and holiday sales data and predictions, including a 14% increase in spending this year. Check out the estimated $30 billion organized retail crime wave. Amex gets approval to process payments in China, a US mobile payments snapshot, and much more payments news ahead. Read more…
LET’S CONNECT