Recently, the US House of Representatives passed a bill that mandates ByteDance, the Chinese parent company of TikTok, to divest its US assets within a year or face a nationwide ban. This significant move intensifies the pressure on TikTok’s operations in the United States. The bill is now pending the Senate’s approval. This legislative move […]
Will the US Ban TikTok? Read More »
RealReal, a platform for luxury resale, said in an SEC filing that it fired 230 workers and shut down four locations last year in an effort to cut costs. This amounted to 7% of its personnel being laid off. Along with two more locations in Atlanta and Austin, the flagship stores in San Francisco and
The RealReal Closed Stores and Laid off Staff to Cut Costs Read More »
Walgreens has yet again announced layoffs of hundreds of employees across two states. The company plans to downsize its branches as part of its cost-cutting efforts. This move will affect almost 650 jobs in Dayville and Orlando, as Walgreens plans to close branches on May 17. This news comes after the recent layoffs in February
Walgreens Planning Store Closures and Laying off Hundreds Read More »
The point-of-sale (POS) system has evolved into an indispensable tool for retailers, far surpassing its original function of simply processing sales. Today, POS systems integrate capabilities such as employee scheduling, gathering critical sales data, and monitoring inventory levels across diverse selling platforms. Retailers must stay up-to-date on point-of-sale trends in 2024 to maintain expertise and
Top Point-of-Sale Trends for 2024 Read More »
Sustaining and expanding your business involves both creativity and systematic planning. In the initial stages, when working alone or with a small team, it’s common to overlook the importance of establishing transparent processes. You may rely on your intuition and memory to manage daily operations and foster growth. But, for your business to scale to
Essential Processes to Support a Growing Business Read More »
Recently, the Visa high-risk fee for registration was raised, affecting the bottom line of merchants considered high-risk. In a landscape where payment processing fees are substantial, merchants must proactively tackle these challenges to protect their profits. This blog post highlights the updated Visa Integrity Risk Program (VIRP), which will soon introduce new high-risk tiers and
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On January 11, 2024, Google announced that it would expand the support for Real-Money Gaming (RMG) apps on Google Play. After several years of test programs, Google Play will permanently offer more RMG apps in nations like Brazil, Mexico, and India. Plans are also in place to expand into more areas. The change follows successful
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Since their inception in 2014, Non-fungible Tokens (NFTs) have captured global attention, leading to record sales and transforming perceptions in sports, music, and art. As we move into 2024, several emerging NFT trends in the market are poised to revolutionize these industries further. NFTs are cryptographic tokens that establish the ownership or authenticity of specific
Top NFT Trends to Watch in 2024 Read More »
Last year, Shift4, a leading payment processing and financial technology solutions provider, announced its interest in potential acquisition offers. Jared Isaacman, while disclosing the news at that time, revealed that the company had received several proposals from interested parties. However, a recent staff memo revealed its change of plans, as all the proposals did not
Shift4 CEO Deemed the Buyout Offers Insufficient Read More »
Visa has published the Biannual Threats Report for Fall 2023. It highlights emerging frauds and scams that threaten the economy on a global scale. The report suggests a significant increase in phishing scams, now backed by generative AI tools. This Visa report also points out an uptick in enumeration and ransomware incidents. Additionally, it outlines
Visa Report Highlights Scams Proliferating in 2024 Read More »
Despite the loom of recession in 2023, the year turned out to be unexpectedly better for all retailers across the US. In the forecasted recession, which never materialized, consumers remained resilient and continued spending, leading to a notable annual sales growth of 3.6%, or about $5.1 trillion. Looking ahead to 2024, US retail sales are
Retail Sales Projected to Top $5.23 Trillion in 2024 Read More »
March 26th marked a significant day for the merchants as Visa and MasterCard reached a landmark agreement involving nearly a $30 billion settlement. This settlement aims to significantly lower merchants’ credit and debit card transaction costs by reducing US credit card interchange rates, commonly called swipe fees, for a minimum of five years. Should this
Visa and MasterCard Reach Agreement to Put a Cap on Swipe Fees in a Settlement Read More »
Advent International has acquired Nuvei to take it private. The Nuvei acquisition news came just two weeks after the announcement Nuvei was forming a team to evaluate advanced buyout transactions from interested “third parties,” including Advent. Advent is a private equity firm based in the US. Nuvei, initially listed on the Toronto Stock Exchange in
Big corporations like Facebook, Google, TikTok, and Apple were largely able to avoid government oversight for many years, trying to create monopolies in the industries. However, looking at the recent shifts, this has changed drastically. In a new shift, the US Department of Justice DOJ is suing Apple Inc, alleging that Apple Pay inhibits competition
DOJ Alleges Apple Pay Inhibits Competition Read More »
Cryptocurrencies are virtual currencies that rely on blockchain technologies to secure and track transactions. Several companies’ innovative use of blockchain technology has propelled this industry into the forefront of modern technological advancements. With its decentralized nature and ability to ensure transparency and security in transactions, blockchain has paved the way for a bright future. As
Blockchain And Crypto Trends For 2024 Read More »
CVS is set to close numerous pharmacies situated within Target stores at the beginning of 2024, according to a statement from a company representative. These closures reflect the challenges that retail pharmacy chains in the US are encountering with their prescription services and workforce management. CVS spokesperson Amy Thibault explained that the affected pharmacies will
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Tuesday Morning has sadly closed its doors for good, marking the end of an era for the home goods retailer. Following the announcement on Facebook and its website last year, the company initiated a going-out-of-business sale, offering 30% discounts on its merchandise at approximately 200 remaining stores. This closure signifies a sad conclusion to the
Tuesday Morning Going Out of Business Read More »
Toys “R” Us opened its second store in the Mall of America. This 11,000-square-foot flagship store is the second flagship store in the U.S. after the one in American Dream opened in 2022. Thanks to a landmark deal with Macy’s, there are around 452 Toys “R” Us mini-stores inside every Macy’s nationwide. Adding another milestone
Toys “R” Us Opens New Store in Mall of America Read More »