The National Association of Supermarkets and Self-Service Stores (ANSA) published a study showing that the self-checkout system is becoming firmly established in Venezuelan retail, currently reaching 70 %.

According to Ítalo Atencio, president of the association, between 60 % and 70 % of transactions in retail chains are already carried out through these terminals, which has increased consumer satisfaction by 5 %.

Self-checkout technology is used in several Latin American countries. According to Atencio, in Venezuela, this system provides satisfaction to consumers, who spend an average of 55 minutes per supermarket visit.

“Among the benefits most valued by users are the ability to bag products according to their own preferences, greater privacy when purchasing sensitive items, such as medications or feminine hygiene products, and a noticeable ease of use for small purchases.”

The conveniences include the use of contactless cards and mobile devices. In Atencio’s opinion, this is a tool that’s here to stay. The trade association representative predicts that its use will continue to grow in both supermarkets and pharmacies.

M.Pino

Source: alnavio

(Reference image source: Simon Kadula on Unsplash)

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La entrada Self-checkout transactions in supermarkets reach 70 % apareció primero en Bitfinance.

A recent geomarketing study conducted by a leading omnichannel communications company found that 60% of consumers used their mobile devices to search for information about local stores, and 40 % did so while on the go.

Additionally, surprisingly, 7 in 10 individuals said they would have been willing to share their location if they could have gotten valuable benefits in return, and an impressive 80 % expressed interest in receiving alerts based on their location.

With billions of mobile devices in the hands of countless users around the world, the geolocation data that can be obtained from these smartphones is not only diverse, but also extremely valuable.

In the field of retail, many of the applications available on the market incorporate sensors or location technologies, such as GPS, which allow tracking the location of each user and determining the opportune moment for communication.

Julie Villarreal, Integrated Marketing Manager at Infobip, explained: “The granularity of the geolocation data varied from city location or zip code to the street or even block where a user was located, with an approximate accuracy of 50 meters.

Local search optimization had twice the click-through rates compared to traditional advertising. “People were twice as likely to visit a store after seeing a geomarketing-generated ad.”

Geomarketing is a practice that combined geolocation techniques and technologies for user profiling and communication with customers.

Geolocation-based marketing strategies focused on the location of customers, whether business-to-business (B2B) or business-to-consumer (B2C), allowing for more personalized and contextualized communication.

Villarreal added: “The main objective of geomarketing was to send the right message, to the right person, at the right time, to improve business results. It is important to highlight that, although there are various tools that allow geolocation strategies to be carried out, the “Geomarketing in itself is not a tool or technology, but a solid theoretical concept that draws on all of the above.”

K. Tovar

Source: Bancaynegocios

(Reference image source: Unsplash+)

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La entrada 60% of consumers use their phones to search for nearby stores apareció primero en Bitfinance.

The Director of Technology (CTO) of the Walmart store and warehouse chain, Suresh Kumar, spoke about the role that cryptocurrencies are having within businesses and payment systems in general.

During Yahoo Finance!’s All Markets Summit conference, Kumar highlighted the role of digital assets within retail businesses, comparing it to his business’s stance on these assets.

“I’ve talked before about how customers get inspired and discover products, that’s changing, and some of that will happen in the metaverse”, Kumar said, adding that in the future it will be possible to purchase products, physical or virtual, through social applications on the Web3.

The executive also announced that Walmart is ready to enter the disruptions, and pointed out that the company plans to adapt to customer demand, as well as new payment needs. He suggested in this regard that the company could be preparing to integrate crypto payments.

“Cryptocurrencies will become an important part of how customers transact. We want to make sure that we do it without friction so that customers can transact and buy, and get value from it”, said the CTO.

K. Tovar

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Source: Diariobitcoin

La entrada Cryptocurrencies and retail businesses will get along apareció primero en Bitfinance.

The Innovation Center of the Bank for International Settlements (BIS) announced the development of a set of projects focused on crypto payments, among which a cryptocurrency market intelligence platform and security of central banks digital currencies (CBDC) for retail.

With the execution of the project, it is planned to establish an “open source market intelligence platform to shed light on market capitalizations, economic activity and risks to financial stability.”

The BIS cryptocurrency market intelligence platform will enter the framework of the Eurosystem, which aims to “provide verified data on cryptocurrency projects”.

An important factor for the execution of the project is the different problems or collapses that some stablecoins and decentralized finance (DeFi) lending platforms such as Terra (LUNA) and Decentralized USD (USDD) have experienced.

Greater security and lower costs

The development of a market intelligence platform goes against “the norm of relying on self-reported information by unregulated companies when it comes to data on backing asset, trading volumes and market capitalization.”

The Bank for International Settlements also pointed out that quantum computers can easily break the cryptography used by traditional financial institutions to attest and settle payments. Hence, the decision to manage a Eurosystem Center project to experiment with different “cryptographic solutions and to examine the overall performance of the traditional system”.

Likewise, the institution’s Sela initiative will investigate “technological solutions to allow the issuance of CBDC through intermediaries, while guaranteeing greater security and lower costs.”

M. Rodríguez

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Source: es.cointelegraph.com

La entrada BIS to launch an intelligence platform for cryptocurrencies apareció primero en Bitfinance.

Major e-commerce company Amazon said it plans to close dozens of brick-and-mortar bookstores and other retail stores to focus on groceries and tech. The decision affects a total of 68 stores in the United States and the United Kingdom dedicated to different products.

The e-commerce giant said the move is part of a broader shift the company is making to its strategy with brick-and-mortar retailers, noting that it will strengthen its focus on grocery retail locations.

An Amazon spokeswoman indicated that the company decided to “close its Amazon 4-star and Pop Up bookstores and stores, but will keep its food, technology and textile branches, such as Amazon Fresh, Whole Foods Market, Amazon Go and Amazon Style” open.

The spokeswoman also explained that the company remains “committed to creating great physical retail experiences and technologies for the long term, and we are working closely with our affected employees to help them find new roles within Amazon.”

Amazon: from book to food

Amazon was created as a digital bookstore by Jeff Bezos, one of the richest men in the world. Later he expanded his sales and included records. Two decades later, he added physical stores, opening its first physical bookstore in 2015 in Seattle. As a differentiating element he offered discounts to Amazon Prime customers, as well as offering its own devices to try and sell. He created a curated selection of books based on a rating system.

Subsequently, it developed a network extended to several cities in the United States offering a reading experience, but according to some “international media it did not reach the expected profitability and the experience of finding books was transformed into a hybrid between copies and other products. sold from Amazon.com.”

Amazon, whose name is inspired by the largest river on the planet Amazon, became a business model for the new platforms and as a mirror to look at the ferocity of the market. Its beginning was with the sale of books, but it has expanded so much that it has become a “sort of hypermarket with varied products, which today is diversified into technology, food, clothing, toys and household items.”

M. Rodríguez

Source: conclusion.com.ar

La entrada Amazon closes its physical bookstores in the US and the UK apareció primero en Bitfinance.

German retail was disappointed again this year with the volume of sales in physical stores this Christmas season. “For the second time in a row, the Christmas season was a catastrophe for retail,” said Stefan Genth, general secretary of the German Retail Federation (HDE), citing a survey of 750 companies.

“Many retail businesses are in disillusionment and fear for their survival.” He pointed

The HDE secretary explained that the Christmas business got off to a good start in November, but Germany later introduced rules to curb infections with coronavirus that required presenting the corresponding vaccination certificate or having recovered from covid-19 to enter the premises.

Genth added that these restrictions caused a drop in income and the influx of public to the stores.

The federation detailed that more than three-quarters of non-food product retailers were dissatisfied with their Christmas results.

Regulations cause catastrophe in physical stores

The HDE survey revealed that physical store sales in the week before Christmas averaged 35 percent below pre-crisis levels.

The HDE stressed that the situation in German city centers was especially bad, as sales there plummeted 36 percent compared to pre-pandemic levels, while the influx of the public fell by 42 percent.

In view of these results, the HDE reiterated its request that the State provide prompt assistance to the affected companies.

In contrast, online commerce was more active. According to the BEVH federation, the disruption of supply chains and pandemic-related restrictions applied in physical stores led many to rely on e-commerce when buying gifts.

Source: dpa

La entrada German retail is a Christmas catastrophe apareció primero en Bitfinance.

Confidence in the evolution of the euro zone economy registered a moderate correction in August from the maximum of the last 21 years registered last July. It represents the first setback in the figure so far this year, before supply chain problems and outbreaks of infections, as reflected in the economic sentiment indicator (ESI), prepared by the European Commission.

In August, the confidence data for the euro zone stood at 117.5 points, compared to 119 for July, while for the European Union (EU) as a whole it fell to 116.5 points from 118 of the previous month.

Among the 27 group, the deterioration of the economic confidence indicator reflects the lower optimism observed in services and industry, as well as among consumers, while it was practically unchanged in retail trade and rebounded in construction.

In the case of the largest EU economies, the ESI has fallen sharply in France, with a decline to 111.9 points from 116.4, and in the Netherlands, where it has fallen to 110.4 from 113.4 points. In Italy it has fallen 1.9 points, to 117.7 points, and in Spain it has fallen 1.2 points, to 107.7 integers. On its side, in Germany it has fallen 0.3 points, to 11.7.2 integers.

In Spain, the deterioration of the economic confidence indicator in August reflects less optimism in industry and services, while confidence readings rose among consumers, retail and construction.

On the other hand, the European Commission has reported that the employment expectations index (EEI) has increased in August to 112.6 points from 111.6, in the whole of the European Union, while in the euro zone It has risen to 112.8 from 111.6 in July, reaching its best reading since November 2018 in both regions.

Source: dpa

La entrada Economic confidence in the euro area suffers the first fall of the year in August apareció primero en Bitfinance.