Walgreens to expand into financial services | NRF chair lauds retailers' resilience in tough times | How omnichannel expertise drove retail success in 2020
Walgreens will begin offering a credit card and a prepaid debit card tied to its new loyalty program later this year in partnership with Mastercard and Synchrony, the retailer said Wednesday. The move is part of Walgreens' efforts to seek out new revenue streams in the face of changing consumer behaviors driven by the pandemic.
Retailers reacted to a year of pandemic-related upheaval and political turmoil with agility, and they were quick to adapt through store closures, changing safety requirements and sometimes-tense customer interactions, NRF Chairman Mike George said in a keynote at NRF 2021: Retail's Big Show -- Chapter 1. George cited examples of retailers that adapted, including Sam's Club's development of an app to aid contactless shopping, Lowe's acceleration of its curbside pickup program and Target's launch of online reservations.
Omnichannel efforts proved vital as retailers had to find new ways to serve customers during the pandemic, and Nordstrom's digital expertise sent it to the top of a new ranking in CI&T's Connected Retail Report that was presented at Retail's Big Show. Target, Home Depot, Staples and Walmart rounded out the ranking's top five.
Sephora has launched an initiative to end racial disparity in its stores by doubling the availability of Black-owned brands and establishing protocols to end racial profiling. The changes are resulting from the Sephora-sponsored "Racial Bias in Retail" study, which has revealed discriminatory practices experienced by employees and customers.
Kroger has been testing the new KroGO smart cart in a Cincinnati-area store since last fall, the company reports. The cart, powered by tech firm Caper, will be rolled out to more stores based on insights from employees and customers, according to a company spokesperson.
Retailers are taking an increasingly hyperlocal approach as e-commerce demand surges in the pandemic and pressure to lower supply chain costs continues, Capgemini consultants said during a panel at Retail's Big Show. Retailers' toolkits include sourcing local products and using stores to fulfill digital orders, lead consultant Lindsey Mazza said.
Foot traffic at malls was within 30% of 2019's tally in October, according to data from Placer.ai, marking the best reading since February. That number worsened in November before rebounding in December, when foot traffic was off 32.4% on a year-over-year basis. "Placer.ai's team thinks that 2021 could be a big year for malls, as customers are itching to get out and shop," the report notes.
Join David Wilkinson, president and general manager of NCR Retail, for a fireside Q&A with Becca Coggins, senior partner at McKinsey, to discover the technologies giving retailers the agility to adapt. They will explore today's big technology advances in store virtualization, touchless self-checkout, next-generation retail architecture and why now is the time to invest -- not rest. Learn more.
Is social responsibility a response? An agenda? A strategy? Or is it simply a necessity? Being socially responsible is no longer a point of distinction. It's what stakeholders -- customers, employees and capital investors -- expect. Read more about why an entire company must be on board with corporate social responsibility initiatives.
White Castle will turn the parking lots at more than 300 locations into retro drive-ins with carhop service for one night to keep its 30-year Valentine's Day tradition going during the pandemic. As in previous years, reservations for the night are required.