Retail: ShopBack Pay lets users earn rewards
In retail today, ShopBack is expanding payment methods, while cosmetics companies are battling costs. Additionally, Authentic Brands Group is looking to add Ted Baker to its growing portfolio, the wedding season is expected to be the busiest in two decades and 60% of consumers are buying only the essentials amid rising inflation.
ShopBack expands payment method
ShopBack, a cashback network for the Asia-Pacific (APAC) region, is adding a scan-and-pay QR feature that allows ShopBack users to not only collect cash online, but also in physical stores. With ShopBack Pay, customers can link their preferred payment methods to make in-store purchases and earn more cash in addition to rewards from their selected payment method.
Investors have a ‘break with makeup’ as cosmetics struggle with costs
Revlon, the 90-year-old New York-based parent company of more than a dozen different brands that are sold in thousands of global outlets in 150 countries, announced it was looking to raise $25 million. dollars for “general corporate purposes”. The move will not only dilute existing shareholders’ stake by around 7% given the cosmetics company’s reduced market value of $350 million, but it comes on the heels of a sale that has already seen the shares of Revlon has lost almost 50% so far this year.
Authentic Brands Group seeks to add Ted Baker brand to growing portfolio
Brand licensing conglomerate Authentic Brands Group (ABG) – which includes Reebok, Aeropostale, Forever 21 and around 50 other labels – is among “multiple parties” considering a bid for British fashion retailer Ted Baker. ABG spoke with the company’s financial advisors, and ABG was reportedly part of the process which included a Thursday (April 21) submission deadline for non-binding offers.
The knot braces for business boom as marriages hit 20-year high
Andy Ivanovich, chief financial officer of The Knot Worldwide, tells PYMNTS that a two-year backlog of postponed events and a heavy flow of current bridal planning could lead to the busiest wedding season the vast and diverse industry has ever seen. special events has known for 20 years. The company said its internal numbers suggest there will be around 2.6 million weddings in the United States this year. With the easing of pandemic restrictions, the removal of masks and the return of a sense of “back to normal”, retailers are seeing an increase in the number of weddings and other special events.
NEW DATA: 6 in 10 consumers only buy essentials as inflation rises
March marked the highest rate of inflation seen in the United States since 1981, and consumers are feeling the pinch. Sixty-one percent of the US adult population – 154 million people – bought little more than their basic necessities that month, including food and health products. These so-called “stick to the basics” consumers are just one of four main types of shoppers that PYMNTS has identified in our latest round of research, but their sheer numbers point to a much broader consumer trend to try to limit their overspending. minimum.
Coca-Cola’s out-of-home business gets a much-needed drive-thru boost
Coca-Cola Chairman and CEO James Quincey told analysts on a call discussing the company’s first quarter 2022 results how the company’s global restaurant business continues to be impacted by the pandemic. Faced with these challenges, some channels have performed disproportionately. For example, digital ordering and drive-thru pickup paved the way, driving the recovery of the restaurant industry.
Mastercard and Microsoft launch next-generation ID technology for safer online shopping
Mastercard and Microsoft Corp. launched an updated identity solution designed to improve online shopping and detect digital fraud. To combat first-party fraud schemes, where purchases are made legitimately but later challenged, Mastercard has enhanced its Digital Transaction Insights solution with next-generation verification and instant decision-making capabilities.
Future Group’s secured creditors cancel $3.4 billion deal with Reliance
Indian retailer Reliance has canceled its $3.4 billion deal with Mumbai-based retail company Future Group, adding it “cannot be implemented” as Future’s secured creditors have rejected the claim. ‘deal. In a stock exchange filing, Reliance said the deal was canceled because “FRL’s (Future Retail) secured creditors voted against it.” Future’s secured lenders rejected the proposal the day before, putting Future Retail on the brink of bankruptcy after reaching more than 1,500 stores at its peak, making it the second-largest retail company in India.
Container store gets social and emotional about nesting trend
For The Container Store, this increased focus on storage, organization and mess disposal, driven in part by the ongoing pandemic, has been part of the company’s DNA since its launch in 1978. It’s partly why the Texas operator of 94 outlets and a loyal following felt it was time to revamp this mature brand through a series of updates and new campaigns, including a new logo, loyalty program , a mobile app and a renewed social media presence, all of which reflect this middle-aged specialty retailer’s attitude to how it wants to connect with its customers.