FINANCE

Marks & Spencer completes rollout of Visa contactless payments

BY Marianne Wilson

New York — Britain’s Marks & Spencer (M&S) has completed the roll out of contactless payment to 644 of its United Kingdom stores, including its railway and airport franchise locations. The roll-out, which followed a successful trial in 25 London stores last summer, cements M&S’ position as the U.K.’s leading contactless retailer, processing over 230,000 contactless transactions every week.

The technology, provided by Visa Europe, enables consumers to simply touch the reader with their contactless cards, or enabled mobile phones without the need to enter a PIN.

Sacha Berendji, retail director at M&S commented: “Contactless and mobile payment is set to be an exciting part of the future retail landscape. A contactless payment takes place in less than a second, creating a quicker, easier and more convenient shopping experience. Customers are already embracing these benefits and through our roll-out we’re ensuring our stores can cater for customers’ changing shopping habits.”

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FINANCE

Gallup: Americans would rather save

BY Dan Berthiaume

Princeton – A substantially higher percentage of Americans (60%) would rather save money than spend it (37%), according to a new Gallup poll. Consumer show little difference in these preferences according to demographic categories such as age, gender, education and political party.

However, 73% of Americans earning less than $20,000 a year prefer saving over spending, compared to only 55% of those earning $75,000 or more. Gallup analysis indicates a general preference for saving among U.S. consumers partially explains why retailers generally perform better by offering sales and discounts than by offering everyday low price.

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OPERATIONS

Bebe names American Eagle exec as marketing VP

BY Staff Writer

Los Angeles — Bebe Stores, Inc. is naming Keith Keegan as senior VP of marketing, effective May 13. Keegan will be in charge of all aspects of marketing and branding across all Bebe brands and report to CEO Steve Birkhold.

Previously, Keegan has worked for Abercrombie and Fitch, Limited, and Express and most recently served as VP of marketing and creative director for American Eagle and the Aerie brand.

“Keith has a long and successful track record working for highly visible global retailers and his passion for branding along with his creative vision will help take Bebe to a whole new level,” said Birkhold. “I’m thrilled to have him join our team as we strategically focus on creating an innovative brand experience to capitalize on the growth opportunities for Bebe.”

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