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Retail Monthly March 2016


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With the constantly evolving technology landscape, retailers need to predict and prepare for them. Shop.org’s annual gathering of retail and technology leaders offered insight on three major trends. Exponential change, the first trend, is difficult to detect because humans are linear thinkers. Retailers need to be willing to disrupt their own organizations in order to succeed in a highly disruptive atmosphere. The second trend centers around “tomorrow’s technology,” while the third focuses on global opportunities, where, experts say, “there’s plenty of room for Western retailers beyond fashion and accessories.” Read more.

 

 
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Labor Department Report: Retail Economy is “Steady and Improving”

According to a Labor Department report, retail employment was up 51,100 jobs in February, following a gain of 52,100 in January. Retail jobs were up by 247,300 from February, 2015. NRF experts credit cold winter weather for the solid numbers and see this as a sign that consumers are confident. The report also stated that unemployment stayed at 4.9 percent, the same as January. Read the full story.

 

 
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Industry Survey: Mobile Budgets Set to Increase in 2016

According to a RetailMeNot poll conducted with 200 senior retailer marketing executives, 87% plan to increase their mobile adspend in 2016. While they also plan to increase their non-mobile digital and offline adspend budgets, mobile will increase the most. However, the key findings are that 39% said they are looking at making mobile account for 50-100% of their budgets and 76% believe that there is potential for considerably more ROI with mobile. A similar-sized survey, published by the AMA, Deloitte, and Duke University's Fuqua School of Business, showed similar trends. Read the full story.

 
 

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