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Returns Totaled $369 Billion In 2018, But Many Can Be Prevented – Retail TouchPoints

“Returns hit the bottom line in multiple ways: the value of returned merchandise was $369 billion in 2018, and it takes, on average, more than seven people to handle processing a return. Additionally, 80% of first-time customers who return their order will never buy from that retailer again. However, most returns happen due to preventable issues, such as shipping the wrong […]
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Trigo Raises $22 Million to Challenge Amazon Go With Automated Grocery Stores

“The days of supermarket queues are numbered. That’s if Amazon and a slew of well-financed startups’ recent activities are anything to go by. Amazon’s cashierless automated stores are expanding everywhere , while emerging competitors like Standard Cognition and Grabango are raising sizable sums to bring cashierless technology to more supermarkets .”
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NY Lawmakers Propose Electronic Payment Platform for the Unbanked

“More than one in four Americans lack adequate access to credit. Nationally, the Federal Deposit Insurance Corporation (FDIC) reports that 6.5 percent of households are unbanked and 18.7 percent are underbanked. How can this be remedied? One option that NPQ has covered would be to activate the US postal system to provide limited banking services, a practice […]
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U.S. Retail Sales Rebounded in October

“Retail sales—a measure of purchases at stores, at restaurants and online— rose a seasonally adjusted 0.3% in October from a month earlier, the Commerce Department said Friday. Economists surveyed by The Wall Street Journal expected a 0.2% increase. The rise in October follows a drop in September, when sales fell 0.3%, the same as previously […]
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Kohl’s CEO Michelle Gass: ‘Amazon Is Working’

“Kohl’s CEO Michelle Gass says the retailer’s partnership with Amazon is going well, despite Kohl’s reporting dismal holiday sales that cast doubt on the strategy. “I get this question, ‘Is Amazon working?’” Gass said Sunday at the National Retail Federation’s annual Big Show in New York, in an interview with CNBC’s Courtney Reagan . “Amazon […]
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You may be surprised by who carries the most credit card debt

“Turns out, Americans with a net worth of more than $100,000 are more likely to have credit card debt than people who have a negative net worth. Taking a deep dive into the numbers, 58 percent of people with this level of net worth owe at least $2,500, and 39 percent are carrying at least $5,000, Bankrate.com […]

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Mastercard SpendingPulse: U.S. Retail Sales Grew 3.4 Percent This Holiday Season

“Retailers have much to cheer about this holiday season. According to Mastercard SpendingPulseTM , holiday retail sales increased 3.4 percent (ex auto) with online sales growing 18.8 percent compared to 2018. Mastercard SpendingPulse provides insights into overall retail spending trends across all payment types, including cash and check.”