The Digital Shift In Retail And Payment Methods

Social shopping is the newest hot trend fueled by the pandemic, as new startups are emerging and established brands such as Macy’s are catching up to capture this area. In retail technology, Yotpo is helping brands capture the digital shift by making a compressed marketing stack for online shopping. And in payment methods, consumers are changing how they pay for items to decrease contact amid the pandemic, while BBVA is one of the six banks that will work with Google to deliver “smart” digital bank accounts. All this, Today in Data.

Data:

3,300: Number of employee participants in Macy’s Style Crew program.

78%: Share of consumers who have changed how they pay for things to reduce contact.

$75M: Amount of Yotpo’s recent funding round.

40%: Approximate share of people who would be “extremely” or “very” likely to bring their banking relationships to Big Tech or FinTechs.

5%: Commission paid by Macy’s Style Crew Program.