Retail TouchPoints

NOVEMBER 4, 2021

Despite having just officially begun, this holiday shopping season already is marked by supply chain disruption, persistent inflation and mixed consumer confidence. And just like last year, it looks like consumers will respond by turning to ecommerce. 31, 2021. “We’re

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Retail TouchPoints

MARCH 3, 2022

Following the opening of 100 Ulta Beauty at Target shop-in-shops in 2021, Target will open more than 250 new locations by the end of 2022, with ambitious plans to eventually reach at least 800 locations. “We see substantial opportunities to build on our core capabilities to drive deeper guest engagement and long-term growth.”.

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Retail TouchPoints

DECEMBER 23, 2020

In 2021, businesses in the United States will face new VAT rules for selling to final consumers in Europe. Called the “low value consignment stock relief,” the threshold was intended to reduce the administrative burden in customs compliance. Thankfully, the EU decided to push the compliance deadline from Jan.

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Payment Services Telecommunications Accounting Planning 156

Retail TouchPoints

JANUARY 14, 2022

Most experts expected holiday 2021 to be a digital success, and the season didn’t disappoint: global sales hit $1.14 As a result, Cyber Week 2021 accounted for 23% of total ecommerce spend, down slightly from 24% in 2020. But when it came to alternative payments, BNPL was the star. trillion , up from $1.1 18 and Dec.

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Retail TouchPoints

APRIL 21, 2021

The pandemic accelerated not just ecommerce but also digital payment methods: digital wallets reached 29.3% The wallets are expected to unseat credit cards as the preferred online payment method in the coming years, according to the FIS Global Payments Report 2021. Digital wallet usage is expected to account for 40.5%

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Merchant Services Payment Services Checkout Accounting 292

Retail TouchPoints

JUNE 15, 2022

Called “Buy Direct,” the third-party marketplace is being integrated into Bing’s existing ecommerce experience, Start Shopping, where consumers can find products and are then directed to a retailer’s website to make the purchase. Bing accounts for approximately 25% of total monthly search volume in the U.S.,

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Retail TouchPoints

FEBRUARY 11, 2021

We’re going to skip any in-depth discussion of consumers’ ever-warming embrace of online shopping because it feels more “established than trending,” and because with limited space we want to cover what we believe are more intriguing developments for supply chain professionals. But the post must go on.

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Retail TouchPoints

AUGUST 18, 2022

But now, as BNPL offerings — and consumers’ understanding of them — mature, the explosive growth of the last two years is slowing. With inflation and interest rates on the rise, a more nuanced approach to BNPL is emerging, and experts say that’s a good thing for both consumers and retailers. In fact, 50% of U.S

Merchant Services 257

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Retail TouchPoints

JULY 22, 2021

When the economy is growing, consumers flock to stores. On the other hand, when a recession is imminent, consumers and their wallets generally stay put and are more conservative. This situation has forced retailers worldwide to adapt to a slew of new consumer demands while juggling a precarious supply chain. Cyber threats.

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Payment Services Consumer Customer Experience Accounting 305

Inside Retail

AUGUST 8, 2023

Super apps in Asia are trendy, and with good reason: they gather together a number of essential everyday services onto a single, easy-to-use platform. Sea, for example, provides an integrated suite of e-commerce (through Shopee), digital entertainment and financial services. Financial services accounted for $412.8

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Retail TouchPoints

JULY 25, 2022

This generation has taken to this payment option faster than any other, but looking at their history it is easy to see why. Gen Z has grown up with a steady decrease in the use of physical payment, coupled with major advancements in fintech. Late or missed BNPL payments have their own consequences. with Klarna.”. with Klarna.”.

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Retail TouchPoints

JUNE 23, 2022

The 2022 back-to-school (BTS) season could be the most “normal” since the start of the pandemic, with even more demand than the record-setting BTS 2021 season for clothing, classroom supplies and new technology. Give Back-to-School Shoppers Alternative Payment Options. Streamline Your Checkout Process for Busy Parents and Students.

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Payment Services Checkout Drop-Shipping Customer Retention 266

Retail TouchPoints

JANUARY 26, 2022

Merchants in particular had to quickly shift from in-store sales to online and learn how to accept payments digitally. million applications to start new businesses through September 2021. million applications to start new businesses through September 2021. These can all be categorized as customer service-type chargebacks.

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Inside Retail

JANUARY 10, 2023

billion in 2026, as consumers increasingly shift from offline to online purchases. BNPL services are gradually gaining prominence in Singapore, with a growing preference for flexible payment methods among consumers,” Neralla Rama Ravi Teja, a retail analyst at GlobalData, told Inside Retail. “All

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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. Consumers in every age bracket are in fraudsters’ sights. Millennials.

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Merchant Services Accounting Payment Services Returns 267

Retail TouchPoints

AUGUST 15, 2022

Many retailers look only at transaction fraud, and not the total impact of every digital consumer interaction. From signup to login to account changes and reviews, retailers face waves of opportunities to create a digital relationship with a customer. It’s about switching the focus to online trust. This is a fairly new concept.

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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.

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Payment Services Fulfillment Consumer Returns 256

Retail TouchPoints

MARCH 8, 2022

Each day, more electric vehicles (EVs) are hitting the road as consumers and commercial drivers look to reap the potential long-term financial and environmental benefits of the technology. The driver payment process at retailers’ charging stations should be frictionless for shoppers.

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Inside Retail

JANUARY 10, 2023

But, to what extent will customers hold the brand accountable for allegations of misconduct – especially when it offers a good deal? This process will ensure that – if the employees come forward at a later date – they can obtain back-payments by contacting the organisation. The brand is not seeking to recover any overpayments.

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Inside Retail

MAY 21, 2023

The Australian government said on Monday it would introduce laws that will consider buy-now-pay-later (BNPL) services as a credit product in a bid to protect consumers in a largely unregulated industry. “Best way to do that is to legislate, to regulate as a credit product, so that we can manage some of the risks.”

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Payment Services Accounting Consumer Management 130

Retail TouchPoints

JULY 28, 2021

Klarna is continuing to build out its solution suite with two new acquisitions, moving beyond the buy now, pay later space with the goal of becoming a “retail bank, payments and shopping service,” according to the company. Social commerce is expected to account for $84 billion in U.S. retail sales by 2024 , with 40% of U.S.

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Retail TouchPoints

JANUARY 11, 2021

“As part of the ONE RETAIL approach, we combine a variety of consumer journeys into one and put our smartphone app at the center of the entire shopping process,” explained Ekaterina Sokolova, CFO of M.Video Eldorado Group in an interview with Retail TouchPoints. “We Machine Learning-Powered Analytics Now Central to Demand Forecasting.

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Retail TouchPoints

NOVEMBER 28, 2022

Additionally, Bluecore saw an 11% increase in Black Friday site traffic, a 5% increase in orders and a 1% increase in average order values compared to 2021. Mobile shopping once again played a major role on Black Friday, with 48% of digital sales coming from smartphones, up from 44% in 2021. 19 through Nov.

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Payment Services Fulfillment Accounting Consumer 257

Inside Retail

NOVEMBER 9, 2022

Retailers are potentially facing significant headwinds in the months ahead, with rising interest rates and cost-of-living pressures dragging on consumer confidence. per cent in the three months to September, compared with the same period in 2021. Credit bureau Equifax reports applications for credit cards grew 31.5

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Payment Services Consumer Returns Accounting 241

365 Retail

MAY 13, 2022

The new function enables individual sellers and small businesses to accept contactless payments in-person directly on their Android mobile devices, with no additional hardware and no additional fees. in September 2021 to £15.30 in December 2021. The solution works on devices with Android 8.0 and NFC capabilities.

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Retail TouchPoints

AUGUST 25, 2021

If retailers think online shopping in 2021 is about the simple exchange of goods for money, they’re doing it wrong. Before the pandemic, ecommerce accounted for approximately 16% of all retail. Today, every one in five purchases is made online, largely due to changing consumer habits in the wake of lockdowns and other restrictions.

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Retail TouchPoints

DECEMBER 19, 2022

All of these retailers succeed by building hype around the launch, priming their loyal customers to place their order as soon as the product or service is released. Consumers are left disappointed, feeling cheated and let down. This surge of reseller abuse can have a negative impact on the business-consumer relationship.

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Small Biz Trends

AUGUST 22, 2022

Venmo, the payment services provider has announced that it has grown by 50% and now has nearly 90 million accounts in the second quarter of 2022. consumers in the U.S. More Consumer Opt to Pay with Venmo. Venmo is the most preferred tipping method for Venmo customers after cash and cards when paying for a service.

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Retail TouchPoints

MAY 28, 2021

Thoughts of poor customer service probably ring a bell in your own mind, and these opinions are hard to change — but there is hope. Customer service is changing rapidly to meet consumer behavior, providing smoother, more integrated experiences than ever before. 3 Data-Backed Reasons why Customer Service is Essential.

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Payment Services Customer Retention Customer Experience Marketing 163

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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Inside Retail

JUNE 17, 2021

Many habits they developed during 2020 — such as shopping online through WeChat and making mobile payments — will become permanent. According to a 2019 study by McKinsey, young Chinese consumers will account for 65 per cent of the growth in luxury fashion and accessories globally heading into 2025. Retail the New Way.

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Payment Services Fulfillment Specialty Retailers Social Commerce 113

Inside Retail

JULY 14, 2023

Buy now, pay later (BNPL) services have changed the retail landscape, with many customers and retailers alike using these services from companies such as Afterpay, Zip and Klarna. In the survey of Australian shoppers, 42 per cent of respondents said they had used a BNPL service in the last 12 months.

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Inside Retail

OCTOBER 6, 2021

Fast forward to October 2021, and Australia’s largest online fashion retailer The Iconic is leading the way on resale, partnering with AirRobe on the Circular Wardrobe, an initiative that allows customers to resell, rent, or recycle their preloved items with one click. Tapping into gen Z spending power.

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Inside Retail

OCTOBER 17, 2022

billion in 2021 alone. Add to that interest rate rises cooling the economy and BNPL services have been described by behavioural scientists as a ‘ perfect storm’ of instant gratification , with the delayed pain of payment encouraging people to spend more. They have more accounts, on average, than older consumers.

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Small Biz Trends

NOVEMBER 10, 2022

READ MORE: Zelle Forecasted to Soon Be Most Popular P2P Payments App, But Can It Help Your Business? When using payment apps like Zelle, it’s important to be aware of the most common scams. Zelle Business Accounts Scams. Here are the next five common Zelle scams to watch out for to help keep your bank accounts safe: 6.

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Retail TouchPoints

MARCH 3, 2022

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. Consider that in the U.S.,

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Independent Retailer

MARCH 31, 2022

The consumer market has slowly been shifting to ecommerce for years, but the evolution of retail since the start of the COVID-19 pandemic has been astronomical. ecommerce sales spiked by more than 30 percent per quarter from Q2 2020 to Q1 2021 , and continued to rise by nine percent in the second quarter of 2021. Export taxes.

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Payment Services Location Marketing Accounting 80