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.

Merchant Services 298

Merchant Services Accounting Payment Services Returns 298

Inside Retail

FEBRUARY 4, 2024

Consumers will be even more selective, payment flexibility and innovation will be vital, and new tools to boost online security will gain momentum. From budget-friendly options and making returns easy to rewards programs and payment options, every interaction can offer a reason to remain loyal.

Merchant Services 264

Merchant Services Payment Services Accounting Consumer 264

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.

Merchant Services 246

Merchant Services Drop-Shipping Payment Services Shipping 246

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%

Merchant Services 279

Merchant Services Shopping Customer Experience Accounting 279

Retail TouchPoints

APRIL 5, 2022

When it comes to embracing ethical commerce and moving corporate social responsibility (CSR) strategies forward, Amazon Web Services (AWS) research shows that retailers and CPGs identify three primary hurdles to success. This category includes discount stores, mass merchants (“big box stores”) and businesses focused on specialty hardlines.

Merchant Services 272

Merchant Services Beauty and Health Returns Consumer 272

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.

Merchant Services 264

Merchant Services Accounting Social Commerce ATS 264

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.

Merchant Services 299

Merchant Services Advertising Shopping Drop-Shipping 299

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.

Merchant Services 278

Merchant Services Payment Services Consumer Point of Sale 278

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.

Merchant Services 288

Merchant Services Returns Shipping Payment Services 288

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 305

Merchant Services Beauty and Health Consumer Returns 305

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 278

Merchant Services Returns Fulfillment Promotions 278

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.

Consumer 264

Consumer Merchant Services Payment Services Drop-Shipping 264

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.

Returns 328

Returns Merchant Services Drop-Shipping Consumer 328

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.

Merchant Services 264

Merchant Services Shopping Customer Experience Shipping 264

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

Merchant Services 214

Merchant Services Marketing Planning Shipping 214

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

Merchant Services 328

Merchant Services Consumer Shopping Accounting 328

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.

Merchant Services 130

Merchant Services Payment Services Returns Planning 130

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.

Merchant Services 165

Merchant Services Payment Services Shopping Checkout 165

Small Biz Trends

MAY 10, 2022

Canadian-based global eCommerce company Shopify says its merchants contributed 5 million jobs and $444 billion in global economic activity in 2021. That’s an increase of 45% from 2020. Shopify merchants sold $25 billion worth of goods and services outside of their home countries. This number is up 45% from 2020.

Merchant Services 98

Merchant Services Accounting Shopping Marketing 98

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.

Returns 179

Returns Merchant Services Drop-Shipping Customer Experience 179

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.

Merchant Services 264

Merchant Services Consumer Accounting Customer Experience 264

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.

Social Commerce 264

Social Commerce Beauty and Health Merchant Services Fulfillment 264

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.

Merchant Services 165

Merchant Services Payment Services Shopping Accounting 165

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.

Merchant Services 279

Merchant Services Accessories Customer Experience Consumer 279

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.

Merchant Services 130

Merchant Services Finance Accounting Consumer 130

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.

Merchant Services 312

Merchant Services Consumer Shopping Accounting 312

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.

Merchant Services 232

Merchant Services Consumer Returns Shopping 232

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

Shopping 173

Shopping Shipping Merchant Services Consumer 173

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.

Merchant Services 89

Merchant Services Finance Consumer Management 89

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 .

Social Commerce 130

Social Commerce Merchant Services Payment Services Fulfillment 130

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.

Wholesale 275

Wholesale Department Stores Fashion Social Commerce 275

Retail TouchPoints

APRIL 11, 2023

Instead, it will likely become a valuable tool for brands looking to streamline their video production process and create more content in-house.” — Mathieu Champigny, CEO, Industrial Color Q: Who will control access to these tools? Perhaps the biggest question around AI is who will ‘control’ access to and use of AI tools.

Merchant Services 299

Merchant Services Customer Experience Consumer Marketing 299

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.

Drop-Shipping 205

Drop-Shipping Consumer Merchant Services Shipping 205

365 Retail

JULY 20, 2022

in 2020, with e-commerce accounting for more than three-quarters of overall retail growth, and 57% of global shoppers’ spend is now online, and this momentum will only continue to drive the retail industry forward. Globally, online’s share of total retail sales was 16.4%

Merchant Services 122

Merchant Services Shopping Customer Retention Department Stores 122

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.

Merchant Services 200

Merchant Services Customer Experience Marketing Consumer 200

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.

Merchant Services 96

Merchant Services Payment Services Returns Shopping 96

Retail TouchPoints

APRIL 11, 2023

Instead, it will likely become a valuable tool for brands looking to streamline their video production process and create more content in-house.” — Mathieu Champigny, CEO, Industrial Color Q: Who will control access to these tools? Perhaps the biggest question around AI is who will ‘control’ access to and use of AI tools.

Merchant Services 276

Merchant Services Customer Experience Consumer Marketing 276