What’s happening in the world of technology.
THE SQUARE DEAL: Twitter cofounder Jack Dorsey is looking to revolutionize how consumers pay retailers as chief executive officer of payment firm Square. Dorsey’s master plan includes simplifying commerce and making technology invisible.
BIG DATA AT THE BIG SHOW: The National Retail Federation’s annual retail conclave was heavy on tech this year, with presentations looking at how the Internet supercharged the sector and how big data can help brands, as well as the limits of e-commerce, with a presentation entitled, “Amazon Can’t Do That.”
SO SORRY: In an open letter to customers, Neiman Marcus ceo Karen Katz apologized for its data breach. “We deeply regret and are very sorry that some of our customers’ payment cards were used fraudulently after making purchases at our stores,” she said. On the other end of the price scale, Target Corp. agreed to testify before Congress about its own security breach.
LOGGING ON IN CHINA’S INTERIOR: Online consumption among consumers in China’s poorer interior provinces experienced the highest growth rates in the country last year, according to an annual spending report by Alipay.
SJP ADORNED: Sarah Jessica Parker will serve as curator for Web start-up WeTheAdorned. The membership site will sell accessories designs by the likes of Pamela Love and Dannijo and chosen by Parker. Prices are expected to range from about $50 to $1,000.
SECOND-HAND SALES: Manish Chandra, ceo of second-hand shopping company Poshmark, said Coach, Louis Vuitton, Michael Kors, Tory Burch and Chanel were among the app’s most popular designer brands. Chandra estimated the secondary apparel and accessories in the U.S. generated at least $1 billion in sales last year, with eBay capturing $500 million to $700 million of that total.
L.L. BEAN SERVICE STYLE: Llbean.com beat out more than 100 e-tailers and took the top slot in a StellaService study of online satisfaction for December. “They’ve managed to instill a true culture of service within their seasonal workforce,” said Kevon Hills, director of research at StellaService.
OMNI SOLUTIONS: EBay put together a new suite of services to help retailers switch to an omnichannel positioning and their stores into virtual distribution centers.