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It’s Time Retailers Give Customers What They Want: Online Shopping Without Passwords

Retail TouchPoints

billion, accounting for a record 18.9% Traditional Passwords are Ruining the Customer Experience. Traditional password systems deliver a grueling customer experience that often ends in frustration. Industry studies report nearly 90% of consumers are less likely to return to a website after a poor user experience.

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Refundid raises $3 million for tech turning BNPL model on its head

Inside Retail

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.

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Does Customer Age Matter for Fraud Prevention?

Retail TouchPoints

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. This approach can reduce fraud losses and improve the shopping experience for good customers.

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Opinion: The clock is TikToking for supply chains

Inside Retail

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. Infrastructure necessities.

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COVID-19 Has Transformed Wine Shopping. Here’s How Vivino Is Adapting

Retail TouchPoints

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. Retail TouchPoints (RTP): What areas of the customer experience do you believe makes Vivino stand out?

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The Looming Spike In Returns Abuse

Retail TouchPoints

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. Returns Abuse And Customer Expectations. Customers Abusing Merchant Policies.

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Monetizing Data Assets is the Lifeline Retailers Need to Restore Growth

Retail TouchPoints

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.