Page 10 - GS230201

NewsBriefs

This article contains excerpts from news stories recently posted under panels, live demos and networking. Held Jan. 15 to 17,
Breaking Industry News on our homepage. For links to these and other 2023, the show featured multiple stages and exhibit hall
full news stories, please visit www.greensheet.com/breakingnews. presentations, all focused on challenges and opportunities
php. on retail's near-term road map.

Throughout the conference, leading retail and technology
brands released a stream of press releases, surveys and
research, including a statement from NRF CEO and
President Matthew Shay, who disclosed that the show will
expand into Asia Pacific with an inaugural APAC event to
be held in Singapore from June 11 to 13, 2024.

"NRF is proud to expand the footprint of Retail's Big Show
by bringing all the power and reach of our New York show
to Asia-Pacific, one of the world's fastest-growing markets
with limitless opportunities in retail," Shay said.
2022 holiday sales rose 5.3 percent
CFPB considers nonbank naughty list
Year-end holiday sales were not as robust as some had
A broad swath of consumer financial services firms, predicted, but overall growth was still a respectable 5.3
including financial technology providers, could find percent over 2021. In all, retail shoppers spent $936.3
themselves on a public registry if they run afoul of state billion between Nov. 1 and Dec. 31, 2022, the National
and federal consumer protection statutes. This would be Retail Federation reported. Separately, the CRM giant
under a new plan proposed by the Consumer Financial Salesforce reported that global online sales topped $1.14
Protection Bureau. The CFPB was given federal oversight trillion during the 2022 holiday season, and $270 billion
authority for nonbank financial firms under the 2010 in the United States, driven largely by consumers who
Dodd-Frank Financial Reform Act. made online purchases and picked up their merchandise
at brick-and-mortar stores.
However, many of these firms can also find themselves on
the receiving end of orders handed down by state, local "The last two years of retail sales have been unprecedented,
and even other federal consumer protection agencies (like and no one ever thought it was sustainable," said NRF
the Federal Trade Commission) or in the form of court President and CEO Matthew Shay. "Nonetheless, we closed
orders. It is these orders that the CFPB wants to keep track out 2022 with impressive annual sales and a respectable
of and publish using an online registry. The proposal, holiday season despite historic levels of inflation and
which clocks in at 212 pages, would also require large interest rate hikes to cool the economy."
nonbank financial services firms supervised by CFPB to
designate senior executives responsible for submitting EU to enforce cyber resilience
annual written statements attesting to steps taken to
comply with any orders. In light of recent disclosures of another T-Mobile
cyberattack, security analysts are openly wondering if U.S.
NRF 2023 notes resilience, shifting preferences policymakers will borrow a page from the European Union
Commission’s Cyber Resilience Act. Enacted Jan. 18, 2023,
The National Retail Federation's annual conference and the measure aims to protect connected devices against
expo, NRF 2023: Retail's Big Show, drew 15,900 industry pervasive cybersecurity attacks, the EU Commission
professionals and 6,100 retailers to New York City's Jacob stated. The new regulation holds manufacturers,
Javits Convention Center for three days of keynotes, distributors and service providers accountable for device
and network security, imposing fines of up to 15 million
euros or 2.5 percent of annual revenues to non-compliant
F
n
ac
ls
o find us o
A Also find us on Facebook, parties, noted Jan Wendenburg, CEO of the cybersecurity
o
b
o
k,
e
T
n &
in
ke
r the
dI
t
e
r f
t
w
o
i
L LinkedIn & Twitter for the company ONEKEY.
most up-to-date stories,
mos t u p-t o-d a t e s t o ri es, "The pressure on the industry – manufacturers, distributors
c a n ’ t miss e v e n ts a nd ne w es t and importers—is growing immensely,” he stated. “The
can’t miss events and newest
EU will implement this regulation without compromise,
r
ts.
t
n
unc
e
nno
y a
me
industry announcements. even though there are still some work packages to be done,
us
ind
for example regarding local country authorities." Noting
that ransomware attacks occur every 11 seconds, the EU
cited numerous German firms affected by this trend.
10
.f
ee
m/Th
tI
n
boo
e
c
ttp
a
o
s://w
ee
h https://www.facebook.com/TheGreenSheetInc c
eG
w
r
k.c
h
nS
w
n
s://w
ttp
w
w
.l
o
i
k
e-g
h
r
n.c
y/t
pa
m
n
o
ee
ed
h
ee
m/c
i
n-s
h https://www.linkedin.com/company/the-green-sheet t
https://twitter.com/The_Green_Sheet t
ttp
h
s://t
h
ee
m/Th
e_G
r
ee
n_S
tt
i
w
e
o
.c
r