Retail TouchPoints

MARCH 2, 2021

With the stakes for getting returns right continuing to rise, retailers have to focus on multiple elements including the customer’s return experience and streamlining reverse logistics systems (sometimes with the help of third parties). More Online Sales Means More Returns. The big driver? Retailers across the U.S.

Returns 297

Returns Merchant Services Drop-Shipping Consumer 297

Retail TouchPoints

APRIL 6, 2021

Returns in the retail industry have always posed a challenge. A report from Statista estimated 2020 return delivery costs at $550 million, up 64% since 2017. In addition, the past decade has seen returns baked into the business model of several direct-to-consumer starts-ups, including Warby Parker, Stitch Fix and Zappos.

Returns 167

Returns Customer Experience Consumer Shopping 167

Retail TouchPoints

AUGUST 19, 2020

1, 2020, rising from $18.2 Same-day services, including order pickups, drive-ups and its Shipt subsidiary, grew 273% and accounted for approximately six percentage points of total company comp sales growth. e-Commerce sales nearly doubled, soaring 97% for the period ending July 31, 2020. Target achieved a record-setting 24.3%

Fulfillment 313

Fulfillment Accounting Returns Consumer 313

Retail TouchPoints

JANUARY 10, 2022

drop in 2020. “It’s 22, a 10% increase over last year, and retailers need to prepare themselves for the share of shoppers who prefer to make their returns at a brick-and-mortar store. The rise in traffic compared to 2020 showed that shoppers are starting to return to stores. 21, 2021, through Jan.

Shopping 286

Shopping Drop-Shipping Returns Shipping 286

Retail TouchPoints

OCTOBER 29, 2020

To understand the threat landscape for the upcoming 2020 holiday season, it is important to understand the creative ways criminals target the convenient ecommerce features that were designed to benefit customers during the pandemic. Besides curbside pickup, thieves have also gotten clever about using account takeovers to re-route deliveries.

Merchant Services 150

Merchant Services Accounting Shipping Returns 150

Retail TouchPoints

JUNE 10, 2020

Consumer-friendly and flexible return policies can be the difference between getting a new customer and losing a sale. According to proprietary research conducted by Forter, 23% of shoppers will abandon their carts if returns options are poor. Returns Abuse And Customer Expectations. This is amplified in some industries.

Returns 149

Returns Merchant Services Drop-Shipping Accessories 149

Retail TouchPoints

FEBRUARY 23, 2021

Macy’s Q4 and full-year 2020 results show signs of a turnaround for the department store, hard hit, like many of its counterparts, by the COVID-19 pandemic. The Polaris strategy proved to be a critical enabler of our performance in 2020, allowing us to adapt and innovate with agility during the pandemic,” said Gennette.

Department Stores 209

Department Stores Returns Jewelry Apparel 209

Retail TouchPoints

MARCH 26, 2021

The move, which will include products sold both in-store and online, is part of an effort to rebuild JCPenney in 2021 as the basis for returning to solid growth in 2022. Shashoua also is Chief Investment Officer at Simon , which acquired Forever 21 in partnership with Brookfield Property Partners and ABG in February 2020.

Apparel 284

Apparel Accounting Returns Planning 284

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.

Merchant Services 264

Merchant Services Returns Fulfillment Promotions 264

Retail TouchPoints

JUNE 4, 2024

Now, starting June 6, ShopShops’ dedicated Century 21 NYC hosts also will share livestreams on Century 21’s TikTok account. The TikTok Shop launch marks another milestone for the storied off-price retailer, which filed for bankruptcy and shuttered all of its stores in 2020.

Shopping 263

Shopping Returns Fashion Accounting 263

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.

Merchant Services 277

Merchant Services Accounting Payment Services Returns 277

Retail TouchPoints

MARCH 10, 2021

Fulfillment was a key driver during the ecommerce-driven final quarter of 2020. Amazon in particular invested more than $60 billion in shipping alone in 2020, helping it maintain blazing fast delivery times, but O’Shea believes its lack of a significant physical store footprint will cause it to lag behind the competition to some degree.

Fulfillment 263

Fulfillment Drop-Shipping Apparel Shipping 263

Retail TouchPoints

NOVEMBER 9, 2021

Additionally, Liquidity Services , which operates a B2B ecommerce marketplace for surplus business and government goods, has launched a new consumer-facing omnichannel marketplace called AllSurplus Deals for returned and overstock goods.

Returns 296

Returns Sporting Goods Accessories Consumer 296

Retail TouchPoints

APRIL 19, 2024

Members must claim their points on their account dashboard by May 18.) Messi also has become a member of Lowe’s Home Team , joining NFL and NBA athletes who have helped the home improvement retailer enhance communities around the country since 2020.

Accounting 261

Accounting Returns Marketing ATS 261

Retail TouchPoints

APRIL 21, 2021

ecommerce share in 2020, up from 23.7% Buy now, pay later (BNPL) also thrived over the past year, rising nearly 78% to account for 1.6% Digital wallet usage is expected to account for 40.5% Mobile wallets surged 60% to account for 9.6% in 2020 due to demand for contactless payment methods. of ecommerce spend.

Merchant Services 291

Merchant Services Payment Services Checkout Accounting 291

Inside Retail

APRIL 22, 2021

billion online in 2020, and many sellers experienced substantial growth in key categories, such as home goods, health and beauty. In the US, for example, eMarketer reports that D2C sales now account for 33% of Nike’s revenue. . According to one recent survey from ShipStation, 66% of consumers prefer contactless returns.

Fulfillment 299

Fulfillment Beauty and Health Advertising Accounting 299

Retail TouchPoints

OCTOBER 4, 2021

compared to the same period in 2020 and 3.4% However, the brand has yet to return to profitability despite its growth. members accounted for half its sales in the country in the first half of fiscal 2021. Claire’s has filed for an IPO that would value the company at $100 million. Claire’s reported a net loss of $144.3

Jewelry 268

Jewelry Accessories Accounting Location 268

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. BOPIS (buy online, pick up in-store) took off in 2020, led by curbside pick-up (BOPAC) increasing 208% by the beginning of May. on average.

Consumer 307

Consumer Drop-Shipping Shipping Returns 307

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.

Merchant Services 283

Merchant Services Beauty and Health Consumer Returns 283

Retail TouchPoints

JULY 5, 2024

Neiman Marcus filed for bankruptcy in 2020, and later shed nearly $4 billion in debt and began a transformation effort in early 2023. In Forbes , Kestenbaum wrote: “It could be that [Amazon] is expecting a return by selling services to the combined company and the investment locks the business in.

Department Stores 293

Department Stores Finance Supermarket Accounting 293

Retail TouchPoints

MAY 19, 2022

Frisk, who has been with the company since 2017 and at the helm since 2020, will stay on as an advisor through Sept. The company underwent several rounds of jobs cuts and a $200 million dollar restructuring in 2018, followed by an SEC investigation into its accounting practices in 2019. Browne has held the role of COO since 2020.

Wholesale 260

Wholesale Accounting Returns Marketing 260

Retail TouchPoints

AUGUST 30, 2021

Retail rode strong into Q2 2021 as shoppers returned to stores even as digital sales remained elevated. in Q2 2021 while its digital comparable sales grew 10% , building on the 195% growth achieved in 2020. comparable sales growth during the quarter thanks to shoppers returning to the outdoors — well above the 0.2%

Consumer 321

Consumer Fulfillment Department Stores Sporting Goods 321

Retail TouchPoints

FEBRUARY 12, 2021

With COVID-19 case counts declining and vaccination efforts underway, eager consumers and retailers are both looking hopefully toward a future return to normal. 2020 put a new spin on the old adage, “You don’t know what you have until it’s gone.” Businesses must also account for generational preferences.

Consumer 346

Consumer Customer Experience Accounting Shopping 346

Inside Retail

OCTOBER 20, 2021

TW: Previous to administration [in 2020], we had 26 stores and nowadays we have 10. Some of the accounts we once had, we might have lost touch with because we had a team transition throughout that administration as well. The post The return of Tigerlily: An in-depth interview with the new CEO appeared first on Inside Retail.

Returns 246

Returns Wholesale Shipping Management 246

Inside Retail

JULY 27, 2023

Co-founder Martin Hosking returned to the business in March to lead it back to growth. Since his return, Hosking’s short-term goal has been to reduce its cost base and become profitable “as soon as possible.” Standard accounts are subject to a monthly account fee, while Premium and Pro accounts are not.

Accounting 242

Accounting Returns Management ATS 242

Retail TouchPoints

FEBRUARY 22, 2021

The mass store closures prompted by COVID-19 in spring 2020 could have spelled disaster for equestrian specialty brand Kerrits , which had operated as a wholesale-only business for over 25 years. The growth from April (2020) was exponential for overall revenue for the business and revenue from email.

Wholesale 244

Wholesale Accounting Marketing Outdoor 244

Retail TouchPoints

JUNE 26, 2024

That was a 19% increase compared to November 2020. But this is only one side of the story; the ecommerce boom also led to a significant increase in return rates, which adds considerable logistical and cost implications, and eats into the bottom line. The move to more automated campaigns has changed the marketing landscape.

Advertising 246

Advertising Returns Marketing Accounting 246

Retail TouchPoints

OCTOBER 23, 2020

plans to shrink its store footprint by 350 locations as the retailer works to return to profitable growth in 2021, according to CNBC. for Q2 2020, which ended Aug. for Q2 2020, which ended Aug. Gap plans to complete 75% of its initial store closures by January 2022. Ecommerce was a bright spot overall for Gap: sales were up 95%.

Returns 183

Returns Apparel Planning Accounting 183

Retail TouchPoints

AUGUST 24, 2021

This focus helped the retailer successfully navigate through its pivot to ecommerce, its return to omnichannel and its preparation for the future. We saw more than double the app downloads in 2020 , which reinforces the shift to online shopping.”. Hiring is just one part of Ulta’s commitment to diversity.

Returns 289

Returns Shopping Accounting Location 289

Inside Retail

APRIL 15, 2021

But in 2020, the Brexit saga became nothing but background noise, as the world hit pause on just about everything normal. The stats don’t lie: the excitement and anticipation over here is palpable, what I predict to be a return of the Roaring Twenties, in what will likely be a period of indulgence, celebration and consumption.

Returns 130

Returns Accounting Fashion Shopping 130

Retail Focus

MAY 24, 2021

In fact, according to a report from the Mastercard Economics Institute , consumers across the globe spent $900 billion more at online retailers in 2020 versus the prior two-year trend. Returns are hassle-free . In recent times, online shopping has been booming. Online shopping certainly has its benefits.

Consumer 130

Consumer ATS Shopping Accounting 130

365 Retail

APRIL 27, 2021

Kantar said older shoppers accounted for nearly half of the rise in so-called footfall to stores, with much of the over-65 community now vaccinated. But one-month figures showed a return to growth, with take-home grocery sales rising by 6.5% Overall supermarket sales rose by 5.7% Overall supermarket sales rose by 5.7%

Returns 115

Returns Supermarket Accounting Consumer 115

Retail TouchPoints

SEPTEMBER 17, 2022

Apparel and beauty companies accounted for 80.1% in 2020; A total of 13.7% of individual loans in 2021 saw at least some portion of the order returned, up from 12.2% in 2020; and Lenders’ profit margins fell to just over 1% of the amount of the loan in 2021, down from nearly 1.3% in 2020; A total of 13.7%

Consumer 231

Consumer Payment Services Apparel Accounting 231

Retail TouchPoints

JANUARY 3, 2022

billion, accounting for a record 18.9% Even worse, more than 87% of customers confirm they have been locked out of an online account due to too many failed login attempts. Industry studies report nearly 90% of consumers are less likely to return to a website after a poor user experience.

Merchant Services 272

Merchant Services Shopping Customer Experience Accounting 272

Retail TouchPoints

MARCH 24, 2021

A year of quick pivots for the retail industry, 2020 required brands to rapidly adjust their spaces to account for social distancing and the safety measures of consumers, staff and everyone in between. In order to lean into creating safer environments, we saw the rise of flexible fulfillment and contactless payments.

Payment Services 267

Payment Services Fulfillment Consumer Returns 267

Inside Retail

NOVEMBER 3, 2021

According to data from McKinsey, 76 per cent of consumers changed stores, brands or the channel through which they purchased products during 2020 – a figure that shows in stark relief what a massive change the pandemic brought upon the retail industry. However, after a period of uncertainty, the market is beginning to settle.

Accounting 264

Accounting Consumer Returns Management 264

Inside Retail

NOVEMBER 8, 2021

In 2020, for the first time in Australia, more than half the shareholders of a public company voted in support of a climate change resolution put forward by shareholders in the face of opposition from the company’s board of directors. A record 36 shareholder ESG resolutions were put forward in 2020. In 2020, support jumped to 14.7%.

Finance 246

Finance Accounting Returns Marketing 246