Another one of my exciting weekly rundowns of quick things going on around the retail industry:
Maybe I need to put on my tin foil hat, but I’m not a fan of one test currently going on in Florida. Coast to Coast convenience store in Tampa is currently testing in-store payments via biometrics. That’s where you put your finger into a scanner and your fingerprint is connected to your debit account information. Makers of the system, Pay By Touch, say it is a secure alternative to carrying cash or credit cards. Critics of biometrics say that the system can be defeated with gummi bears. Is this the future of retail payments? I hope not! I use my debit card for a majority of my purchases – but as much as I embrace technology, I don’t know if I am ready to link personal information in to my fingerprint. [story via Slashdot]
ManagersRealm writes about the new Home Depot customer service plan that they have launched. I talked about this the other day – they’ve earmarked $30m to give to stores and employees who provide great customer service. Is it going to work? Probably not. It seems that Gary Bourgeault shares this opinion and offers up some ideas on how the company could improve service.
J.Crew prepares for their IPO this week. Looking to raise $280 million through this stock sale, how will Wall Street react? I’m thinking investors will love this stock – a first quarter profit increase of 60%, the launch of the kids’ store, crewcuts, and the development of a new women’s store, Madewell. J.Crew has enjoyed a great turnaround over the past two years and this IPO is just another step forward.
Gap Inc. has announced three more locations for Forth & Towne, all in the Los Angeles area. All three will be opening sometime in the Fall.
Speaking of new stores, looks like Kohl’s has officially put out their list of new stores opening in October.
In somewhat lighter news, I hear a crew over at a local hardware store chain was loading pallets when they knocked into the sprinkler system, causing a minor flood. What better place for there to be a plumbing problem than at a hardware store?
Year after year the Home Depot sends out a press release on how they are going to spend millions of dollars on customer service. I have a news flash for the Home Depot “It is not working” When I signed my contract on 9-14-05 the Home Depot was full of promises and now they can not seem to keep them. Now almost 14 months later and problems still are not corrected you can see the Home Depot just does not care about its customers. They will lose one customer at a time and end up like the old HQ.
You can visit my web site at http://www.freewebs.com/myroof to see the distruction.