Weekly Insights Jul 22, 2016

Executive Summary

• This week, Fung Global Retail & Technology co-hosted a “Breakfast with The Disruptors” event with First Insight at the PROJECT New York conference. The event featured a panel discussion covering topics such as the millennial market, the omni-channel store shopper and the rise of customization, data analytics, retailtainment and the future of the in-store experience, and retailers in the media.
• MasterCard is the latest financial behemoth to jump into the mobile wallet game, launching a new system that will enable customers of partnered banks and retailers to send and accept money through a mobile phone. Mobile payments represented 30% of all electronic sales in 2015 and sales made on mobile phones grew by 53%.
• Supermarket chain Sainsbury’s has launched Chop Chop in the London borough of Wandsworth. The service is similar to Amazon Prime and shoppers can order up to 20 items to be delivered to them within an hour for a delivery charge of £4.99 (US$6.53).
• Samsung is introducing its mobile payments app, Samsung Pay, in Brazil just in time for the Olympic Games, in the hopes that Rio de Janeiro can be a springboard to more markets throughout Latin America. It will be the only mobile payments system available to mobile phone users at the Games.