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Foot Locker Invests in Rockets of Awesome
Foot Locker has been investing in online brands recently, and the latest is children’s apparel company Rockets of Awesome. This is part of the company’s effort to maintain relevance with younger consumers as brick-and-mortar retail sales decline.
“We are elevating our customer experience and making investments for the long term,” says Dick Johnson, CEO of Foot Locker. He says the company is actively looking for ways “to tap into the capabilities and talent of innovative and unique brands through partnerships or investments” as it aims to serve “the evolving youth culture.”
Mobile Apps Grow Gambling
The gambling industry has reported a 95 percent growth in mobile transactions. This comes from the 2019 Gambling Industry Report which also found an increase in cheating and a steady climb in credit card fraud. Mobile now represents 70 percent of online gambling transactions. Marketers across industries should note that this is where customers are heading.
The Benefits of Mobile Coupons
Mobile coupons provide a simple and effective means of delivering a personalized experience. Katie Wilson, Founder and CEO of TapOnIt, writes, “As couponing continues to evolve, brands and retailers alike must pay attention to text messaging, as it’s going to quickly disrupt the way people access and use deals to make purchases. With 90 percent of all text messages read within three minutes of delivery, this is an exciting opportunity to help businesses deepen brand affinity and engagement with highly personal mobile deals.”
Visa and Mastercard Remain Strong after Multi-Billion Settlement
An agreement has been reached to settle a class action lawsuit brought against Visa and Mastercard for excessive fees. As a result, “Visa and Mastercard, and certain banks, will pay between $5.54 billion and $6.42 billion on claims from merchants who accepted customer payments via Visa or Mastercard anytime between 2004 and January 25, 2019.” However, it is unlikely that these companies will face regulatory changes, and their market-dominance should continue.
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