Retail TouchPoints

OCTOBER 29, 2020

As online activity has increased during the pandemic, online fraud has too, and fraudsters are poised to wipe out a big chunk of merchant profits by posing as legitimate customers. Merchants love it because it bolsters sales, avoids shipping and helps move inventory out of stores. Who’s Really Making That Curbside Pickup?

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Retail TouchPoints

DECEMBER 30, 2021

In 2020, consumers spent approximately $630 billion on online shopping, and merchants lost $12 billion to fraud. Account takeover fraud, which is driven by impostor scams, increased by 50%, with no signs of slowing down in 2021. K eep bots out of your customers’ accounts and checkout. Millennials.

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Retail TouchPoints

JANUARY 3, 2022

billion, accounting for a record 18.9% It’s a lose-lose scenario: Customers are left completely frustrated by the process and brands put their reputations on the line every time a customer leaves their website because of a poor user experience. of all holiday retail revenue and representing an 11.3%

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Retail TouchPoints

MARCH 3, 2022

ecommerce merchants pulled in $10.8 billion on Cyber Monday 2020 , while Singles Day in November 2021 in China drove $139 billion in sales for two of that country’s major online shopping platforms. That includes frictionless payments and checkout and fast shipping options. Account takeover fraud trends pose additional risks.

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Retail TouchPoints

OCTOBER 21, 2021

We’re indifferent on where the shopping journey ends, where that transaction takes place ,” said Matt Madrigal, VP and General Manager of Merchant Shopping at Google in an interview with Retail TouchPoints. “It The result is a much lower barrier of entry for merchants looking to capitalize on Google’s massive reach.

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Retail TouchPoints

JULY 19, 2022

“Our teams stop millions of suspicious reviews before they’re ever seen by customers, and this lawsuit goes a step further to uncover perpetrators operating on social media,” said Dharmesh Mehta, VP of Selling Partner Services at Amazon in a statement.

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Retail TouchPoints

NOVEMBER 4, 2021

toy industry sales increased 11% in Q3 2021 from 2020, according to the NPD Group , driven by price increases, a continuation of pandemic lifestyles and fewer promotions. Adobe reports that out-of-stock messages are up 172% compared to January 2020 and up 360% from January 2019. Stressed Consumers Spread Out Spending with BNPL.

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Retail TouchPoints

AUGUST 18, 2022

Buy now, pay later (BNPL) was the trendiest way to pay for all those lockdown purchases back in 2020. Most buy now, pay later offers are interest- and fee-free, unless customers miss a payment. consumers say they have used a buy now, pay later service, according to a recent study from The Ascent, a Motley Fool service.

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Retail TouchPoints

APRIL 22, 2022

With the pandemic ushering a wave of traditionally brick-and-mortar merchants online since 2020, the chances of being targeted by scammers is at an all-time high. In 2020, retailers lost $17.5B, with a report projecting an 18% increase in losses last year. Return Fraud.

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Retail TouchPoints

FEBRUARY 4, 2021

On the surface, 2020 wasn’t a great year for globalization. For example, international online sales conducted through cross-border ecommerce solution eShopWorld (ESW) increased 82% year-over-year in 2020. When the pandemic first emerged on the global stage in March 2020, initial uncertainty caused a dip in international online sales.

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Merchant Services Beauty and Health Consumer Returns 257

Retail TouchPoints

JULY 22, 2021

2020 lasted 11 days , instead of the typical 24 hours, also helped greatly in boosting that number. outing, including details on livestreaming, inventory considerations, advance testing of marketing and product strategies and the unique characteristics of Chinese consumers that need to be taken into account.]. The fact that 11.11

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Merchant Services Consumer Shopping Accounting 326

Retail TouchPoints

AUGUST 5, 2022

Online fraud cost digital commerce merchants $27 billion in 2021 , so it’s no surprise that retailers have redoubled their focus on eliminating these threats. By so doing, they can empower merchants to build stronger, longer-lasting relationships with them. And some 40% of declined shoppers will never try that site again.

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Inside Retail

SEPTEMBER 1, 2021

Founded in July 2020 and launched in February 2021, Refundid is a fintech tool designed to cut, or essentially eliminate, waiting times for refunds for products bought online. According to co-founder and chief product officer Joel Aaron, refunded cash can be in the customer’s account within as little as 30 seconds. The time is now.

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Retail TouchPoints

SEPTEMBER 2, 2020

In fact, alcohol was one of the fastest-growing categories in e-Commerce channels, according to Nielsen research : from the first week of March to June 27, 2020, online sales grew 309% over the same period year. In 2020, Vivino’s sales have shown massive year-over-year growth, growing 2X from March to June.

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Retail TouchPoints

MARCH 2, 2021

So when ecommerce sales jumped 32% percent year-over-year as they did in Q4 2020, returns also went through the roof. By most accounts, consumers prefer to return in-store, avoiding the complications of printing labels, re-packaging products and traveling to the post office. Retailers across the U.S.

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Retail TouchPoints

FEBRUARY 2, 2021

billion USD ) in Q3 2020, a period that included the annual Singles’ Day online shopping bonanza, generating a year-over-year increase of 37%. Global Shopping Festival by stimulating consumption, satisfying consumer demands and supporting the business recovery of merchants in response to the impact of the pandemic. billion ( $74.1

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Retail TouchPoints

JUNE 23, 2021

In 2020, data security specialist Varonis calculated that close to 10 billion data records had been lost or stolen since 2013 — a third more records than there are people. In 2018, 151 million conventional (non-bot) attacks were observed, and of these, 91 million were directed at online merchants. alone, 19 per inhabitant.

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Retail TouchPoints

FEBRUARY 14, 2022

In fact, a 2020 Statista survey found that 38% of consumers surveyed said they would share their spending and behavioral data with a company only if it improved their experience. The way to meet consumer demand and create value through merchants is by leveraging receipt data. Consumers Want Control of Their Data.

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Retail TouchPoints

JANUARY 26, 2021

In 2020, more than any year since the advent of online and mobile commerce, consumers lost a sense of control. Meanwhile, for merchants that had already built their businesses online before the pandemic, a larger addressable market buoyed most, but created scalability challenges for all (including Amazon). on average.

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Inside Retail

JANUARY 12, 2023

As far back as May 2020, an Ipsos study indicated that two-thirds of Americans were buying directly on, or discovering products through, social media. Twitter Shops enables merchants to showcase up to 50 products on their Twitter profile. And for consumers: Discovery of new products and services. Consumers are ahead of brands.

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Retail TouchPoints

JUNE 10, 2020

However, unchecked abuse of returns policies can put a merchant out of business: 54% of the merchants surveyed in a study conducted on behalf of Forter indicated that they lost more than $5 million in revenue each year due to returns abuse. Processing legitimate returns can negatively impact a retailer’s bottom line.

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Inside Retail

NOVEMBER 23, 2021

Amazon’s latest spat with Visa shows big retailers, armed with a growing array of payment options, are gaining the upper hand in their power struggle with card providers, but it’s not a crisis for the payment company. “If a merchant wants to offer credit in a different way, we’re agnostic.

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Retail TouchPoints

OCTOBER 3, 2023

In 2020, the company brought in former Walmart Ecommerce COO Jamie Iannone as CEO, and Iannone promptly set out to reimagine Ebay’s role in the now crowded marketplace ecosystem. Services and Experiences Designed for Enthusiasts The first step in drawing these buyers in and keeping them coming back is building trust in the buying experience.

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Retail TouchPoints

MAY 28, 2020

Monitor changing trends closely: As things continue to evolve during the pandemic, merchants should dedicate staff to carefully analyze emerging patterns. By keeping a close eye on the changing landscape, merchants will be able to catch nuances in shopping behavior that their machines may have missed.

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Merchant Services Payment Services Shopping Accounting 145

Retail TouchPoints

NOVEMBER 15, 2021

billion in 2020, and total sales across all platforms (including Alibaba rival JD.com ) for the 11-day campaign topped $139 billion. is about how to best leverage Alibaba’s latest technology to support brands and merchants in driving sustainable and inclusive growth in more efficient ways.”. The 13 th annual 11.11 billion ( U.S.

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Merchant Services Consumer Shopping Accounting 282

Inside Retail

AUGUST 22, 2021

As shown in the study, Australian consumers have consistently reported lower spending hesitancy on e-commerce platforms since 2020 as a result of Covid-19. “In In Australia, more than half of consumers now say that they prefer to shop online instead of in stores since the pandemic,” says Boyer. “So

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Cisco Retail

SEPTEMBER 7, 2022

It may not always be obvious to consumers, however, there is a tremendous amount of innovation happening in financial services making its way into our daily financial lives. That’s the goal of personalization; design, produce, or allow for customization of a product, service, or marketing to meet a consumer’s individual requirements.

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Merchant Services Finance Consumer Management 88

Inside Retail

NOVEMBER 28, 2022

Following in the footsteps of Instagram, which launched its shop in 2020, TikTok has entered the competitive space with its new shop function, enabling merchants, brands and creators to showcase and sell products directly to over 1 billion users through in-feed videos, LIVEs, and the ‘product showcase’ tab. Transport and logistics .

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Inside Retail

MARCH 1, 2022

Since rebranding Freedom in 2020, Callard has continued the retailer’s transformation journey and during Retail Week, he shared his insights from the process with Inside Retail Professionals. Why product is the ultimate source of value…and the problem with having an accountant at the top of a business.

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Merchant Services Management Finance Accounting 130

365 Retail

MAY 7, 2021

2020 was a year like no other, and the shockwaves caused by the pandemic have inherently altered consumer-facing operations at their very core. over the six weeks of Christmas 2020, the worst-ever outcome. If services involve remote assistance, e-tailers should evaluate the software they are putting into use.

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Store Growers

APRIL 1, 2022

Having your Google Merchant Center account suspended can be a death sentence for your business. Because if you can’t use Merchant Center, it also means you won’t be able to use Google Shopping. Most of the time, they are also clueless as to why their account got suspended. How To Fix Google Merchant Center Suspensions.

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A1 Retail

AUGUST 24, 2021

SME optimism is improving, as concern about the impact of the pandemic falls to its lowest point since February 2020. The quarterly SME Barometer combines billions of merchant transactions, processed by Barclaycard Payments, with research data to provide an in-depth look at the UK SME economy.

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Retail TouchPoints

JULY 2, 2021

Following the murder of George Floyd in May 2020, brands and retailers were eager to show solidarity and support. We’ve been on a multi-year quest to help people buy nearly everything that they find on Pinterest and to give merchants the tools to connect with those eager Pinners. THEME 1: Actualizing Diversity and Inclusivity.

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Inside Retail

JULY 20, 2021

India and the Philippines, both reeling from vicious waves of Covid-19, account for more than a third of the world’s commercial seafarers, said Guy Platten, secretary general of the ICS, which represents over 80% of the world’s merchant fleet. “We People are desperate. Global Brands, Beware.

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Retail TouchPoints

APRIL 7, 2021

Tomorrow’s malls may still service some small percentage of these buyers, but will need to target today’s shoppers —people driven by emotion who are eager to be surprised and happily search out unexpected experiences, products and services. Increasingly, malls will need to address consumer convenience need states.

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Retail TouchPoints

DECEMBER 3, 2020

Retailers and industry experts have been forecasting a 2020 holiday season dominated by ecommerce almost since the world started taking COVID-19 seriously, and results from “Cyber Weekend,” or BFCM (Black Friday/Cyber Monday), effectively made their case. Mobile continued strong on Cyber Monday, accounting for 37% of that day’s sales.

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Retail TouchPoints

MAY 20, 2022

And because those wholesale relationships were so central to Natori’s business, losing or seeing a significant pullback from even one account would have been a big blow. Every time someone asks me about my biggest business challenges right now, I just smile, because I feel like nothing will ever be worse than the challenges from 2020.

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