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ArcherPoint Retail Monthly
September 2014


 
According a report by Retail Systems Research, What's in Store for Stores: Benchmark 2014, performance was the driving force behind new store decisions (Note: retailers were asked to select all that apply, so numbers do not equal 100%). The most striking data point is not so much that half of both laggards and winners are continuing to open stores in existing geographies, and it isn’t that almost half of laggards are planning to close underperforming stores and pull back on new ones; it’s that a third of laggards are planning to open smaller stores while a third of winners are planning to open larger ones. The report contains analysis of the business drivers, opportunities, and organizational constraints surrounding retailers' strategies for stores. It also offers baseline recommendations for navigating the future of retail stores, particularly as retailers struggle with evolving omni-channel strategies.
 

 
nl-couple-shopping-sm-2014sep.png Nearly 1/3 of US Shoppers Must See or Feel a Product Before Purchasing
According to Retail Dive, 30.8% of U.S. consumers shop in stores because they want to see or feel products they are considering. 29.9% said they shop offline when want to take something home immediately after they’ve purchased it. The survey also found that 16.9% believe their data is more secure shopping at stores, 14.4% don’t want to pay for shipping, and 6.5% say returns are easier. These statistics are what is keeping offline shopping stronger. It is up to retailers to duplicate or mitigate these advantages in an e-commerce environment to keep customers shopping online.
 

 
nl-computer-theft-sm-2014sep.jpg U.S. Government Warns Retailers About Malicious Software 
D&D Daily says the U.S. Department Of Homeland Security warned retailers about a type of malicious software attacking point-of-sales systems, dubbed "Backoff," that it said is undetectable by most types of anti-virus software. Backoff is a family of point-of-sale malware with capabilities that include scraping memory for track data, logging keystrokes, and injecting malicious stub into explorer.exe files. The software made by Apple, Google, and Microsoft can be used to deploy high-speed programs that guess login credentials until they hit the right one and will go virtually undetected. The report provides insight into what retailers are up against as hackers find ways into computer networks without tripping security systems. High-profile companies including Target, P. F. Chang’s, and Neiman Marcus, have been hit. Once inside the network, Backoff steals payment card data off the memory of in-store cash register systems. The captured information is sent back to the hackers’ computers and sold on the black market.
 
 
 

 
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Move Over Spielberg: Artificial Intelligence is Very Real (and Very Profitable) for Retailers
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