Inside Retail

OCTOBER 19, 2021

As global apparel revenues plummeted almost 20 per cent in 2020, e-commerce has emerged as the silver lining of the fashion industry’s challenging year. E-commerce fashion sales are expected to grow almost 39 per cent between 2020 and 2023. Fear of the unknown customer can backfire.

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Merchant Services Fashion Payment Services Checkout 147

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

JULY 18, 2022

Back in 2020, people started talking about the “audio renaissance.” In 2020, the global podcasting market was valued at $11.46 While Bill Gates and other charitable trusts continue to underwrite audio journalism, a new breed of advertiser is helping pump cash into independent podcasts. More Audio than Ever Before.

Merchant Services 295

Merchant Services Customer Experience Advertising Consumer 295

Retail TouchPoints

JANUARY 3, 2022

To remain competitive — and capture as many online dollars as possible — retailers are prioritizing the customer experience and refining the purchasing journey, improving mobile and app capabilities, adding BOPIS (buy online, pick up in-store) and curbside delivery options, enhancing product page listings and more.

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Merchant Services Shopping Customer Experience Accounting 277

Retail TouchPoints

AUGUST 8, 2022

For instance, many beauty brands offer a gift with purchase as a way for a customer to try a product that is new to them. Casey Burt is Director of Customer Success at Ordergroove — a leader in Relationship Commerce.

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Promotions Merchant Services Shipping Consumer 253

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. Infrastructure necessities.

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Social Commerce Merchant Services Payment Services Fulfillment 130

Inside Retail

JUNE 13, 2023

We speak with Yoox Net-a-Porter’s APAC general manager Natalie Lee about the resilience of luxury spending amidst an economic downturn, the importance of localisation, personalisation and incredible customer service, and how the company is using technology to improve the way it operates.

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Merchant Services Payment Services Fashion Customer Experience 245

Retail TouchPoints

DECEMBER 30, 2021

In 2020, consumers spent approximately $630 billion on online shopping, and merchants lost $12 billion to fraud. However, by understanding how fraudsters target different age groups, merchants can tailor their fraud prevention programs to fit the risk profiles for their customer demographics.

Merchant Services 282

Merchant Services Accounting Payment Services Returns 282

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

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Merchant Services Shopping Customer Experience Shipping 249

Inside Retail

APRIL 15, 2021

As a result, the industry unlocked and fulfilled five years of online retail growth in just six months through a patchwork of band-aids and gut-led experiments – effectively realising 2025 sales levels in 2020. Before Covid-19, we were expecting online penetration to experience an increase of 3.3 Digital payment.

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Merchant Services Payment Services Shopping Customer Experience 130

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

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Retail TouchPoints

JULY 10, 2020

As well, many unknowns about pending legislation and its effect on merchants around the world can cause some anxiety for those in the industry. Merchants need to be aware of the constantly shifting nature of commerce and prepare accordingly to ensure they keep pace with the many factors impacting their business.

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Merchant Services Customer Experience Checkout Fulfillment 154

Inside Retail

DECEMBER 1, 2021

In the last financial reporting year, covering calendar 2020, the world’s top 20 technology companies booked revenues of US$2.1 This created an unprecedented opening for technological workarounds that could bring products to customers without the latter having to venture out, or with minimal human contact if they did go out.

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Merchant Services Payment Services Net Profit Sporting Goods 130

Inside Retail

FEBRUARY 15, 2024

The purchase price represents about $10 per share and an approximately 44 per cent premium to ContextLogic’s closing stock price on February 9, but it is a tiny fraction of the company’s US$14 billion value at the time of its initial public offering in 2020.

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Merchant Services Customer Experience Consumer Shopping 130

Inside Retail

OCTOBER 11, 2022

Our new report, The Global Retailers Handbook , makes a case for the continued need for retailers to analyse and optimise every aspect of their e-commerce experience as consumers become more deeply connected to digital shopping and payments. . Payments must follow. E-commerce maintains its bounce. Winning on trust, not tricks.

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Merchant Services Checkout Consumer Planning 130

Retail TouchPoints

JANUARY 5, 2021

Fraud is a costly problem for merchants, and it’s growing. And merchants may have been extra concerned about fraud during the holiday shopping season, because the crush of holiday orders and unusual shopper behavior (binge-buying, shipping to multiple addresses) can make it hard to detect fraudsters online and at curbside for BOPIS pickups.

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Merchant Services Payment Services Shopping Shipping 262

Retail TouchPoints

SEPTEMBER 15, 2020

Amazon has launched Luxury Stores, an AR-powered store-within-a-store shopping experience, on an invite-only basis. The Amazon app’s new feature will focus on both established and emerging luxury fashion and beauty brands, starting with Oscar de la Renta’s Pre-Fall and Fall/Winter 2020 collections.

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Merchant Services Jewelry Accessories Fashion 142

Retail TouchPoints

OCTOBER 2, 2020

As the company’s chief merchant, he has been responsible for all store and online merchandising departments, merchandising strategy, services and vendor management, marketing and in-store environment. The Home Depot has named Edward “Ted” P. Decker as President and COO, effective Oct.

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Promotions Merchant Services Store Operations Advertising 164

Mass Relators

AUGUST 26, 2021

retail and ecommerce merchants $3.60 increase since the 2020 survey conducted during the pandemic. since 2020, now at $3.02. The pandemic changed consumer behaviors and fraudsters followed, taking advantage of merchants that accelerated mobile channel strategies. compared to $3.13 prior to the pandemic. The average U.S.

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Merchant Services Payment Services Customer Experience Accounting 52

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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Merchant Services Consumer Accounting Customer Experience 256

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. Trust is an important factor in customer experience. The answer, in reality, is likely a combination of the two.

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Merchant Services Payment Services Returns Inventory Management 96

Retail TouchPoints

AUGUST 7, 2020

However, other potentially even more significant trendlines show fundamental changes in consumers’ decision-making process related to picking brands and demonstrating customer loyalty. Several studies have documented a dramatic shift in spending from physical stores to online. For example, McKinsey & Company’s latest U.S.

Consumer 282

Consumer Merchant Services Shopping Promotions 282

Retail TouchPoints

DECEMBER 14, 2020

I was just in a mass merchant store the other day and they had a display with a bunch of different types of disinfectants and hand sanitizer brands I had never heard of prior to the pandemic. Experience Will Be Top of Mind in the Post-COVID Environment. Production is No Longer a Challenge, but Logistics Remain Strained.

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Shopping Merchant Services Fulfillment Returns 305

Independent Retailer

FEBRUARY 24, 2022

As more commerce moves online, customers expect merchants to recognize them. McKinsey found that in November, 71 percent of customers expect personalized interactions with companies, and 76 percent “get frustrated when this does not happen.” by Bruno Farinelli. Rising Rates of False Declines in Ecommerce.

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Merchant Services Payment Services Checkout Consumer 90

Retail TouchPoints

MAY 13, 2021

billion ) buoyed by the consolidation of the Sun Art supermarket business, in which Alibaba took a controlling stake in October 2020. We will continue to focus on customer experience and value creation through innovation, as we pursue our mission to make it easy to do business anywhere in the digital era.”. billion yuan ( $109.5

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Home Furnishings Merchant Services Supermarket Social Commerce 187

Independent Retailer

NOVEMBER 2, 2021

Keep user experience, for both desktop and mobile, in mind. I do think that customer experience will shape the decision making strategy of retailers next year,” Ben Rodier, Chief Client Officer and Co-Founder of Salesfloor , said. “We Crypto Payments Help Deliver a Competitive Advantage.

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Merchant Services Payment Services Shipping Wholesale 96

Retail TouchPoints

JUNE 8, 2022

in March 2020 and by 11.2% in April 2020 , while in the U.S. retail sales plunged by 20% from February to April 2020. between 2020 and 2021 in the U.S. and by 10% from 2019 to 2020 in the EU. I believe that for many merchants, the impact of the COVID pandemic was not all bad news. trillion by 2026.

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Merchant Services Payment Services Checkout Consumer 239

Retail TouchPoints

JUNE 8, 2022

in March 2020 and by 11.2% in April 2020 , while in the U.S. retail sales plunged by 20% from February to April 2020. between 2020 and 2021 in the U.S. and by 10% from 2019 to 2020 in the EU. I believe that for many merchants, the impact of the COVID pandemic was not all bad news. trillion by 2026.

Merchant Services 238

Merchant Services Payment Services Checkout Consumer 238

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. Last year, consumer expectations of their digital customer experience also reached new heights. The Australian e-commerce market is set for a dynamic evolution this year.

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Merchant Services Payment Services Accounting Consumer 264

Retail TouchPoints

SEPTEMBER 1, 2023

A new POS system will create a centralized view of inventory for customers and associates, and improved WiFi — coupled with associate mobile POS devices — will help enrich customer service in stores. More than 100 stores have gone through this refresh thus far. Merchandising and supply chain optimization.

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Planning Merchant Services Inventory Management Consumer 229

Retail TouchPoints

OCTOBER 20, 2020

While the 99 speakers at the 2020 Retail Innovation Conference , held Oct. But our thesis now is that digital’s role in transacting will continue to be vitally important, so consumer behavior is looking for more of those discovery processes.”. We know that customers already shop online before they come into the store.

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Merchant Services Shopping Consumer Business Communication 150

Retail TouchPoints

SEPTEMBER 16, 2021

In the last two months alone, TikTok has rolled out dedicated “Shopping Tabs” for Shopify merchants, Twitter began a pilot of its “Shop Module,” and Pinterest made it possible for creators to “control the shopability of their content” by tagging products. billion in sales in 2020. earning $26.97

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Social Commerce Consumer Merchant Services Checkout 305

Retail TouchPoints

OCTOBER 14, 2020

As part of the virtual Retail Innovation Conference, Retail TouchPoints presented the winners of the 2020 Retail Innovator Awards (RIA) last night on a livestream celebration across its social platforms.

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Merchant Services Promotions Planning Marketing 267

Small Biz Trends

OCTOBER 27, 2022

It’s the act of defrauding businesses using its return process and it’s a problem in the retail industry. It’s the crime of defrauding a retail store through its returns process. And there’s increasing pressure on people like Amazon workers to process returns quickly. Long story short.

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Returns Merchant Services Retailing Pricing Customer Experience 105

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.

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Drop-Shipping Consumer Merchant Services Shipping 177

Retail Focus

APRIL 20, 2022

Builders’ merchant, Bradfords Building Supplies , has transformed the way it merchandises its products online using a solution from Akeneo, the global leader in product experience management (PXM) and product information management (PIM).

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Merchant Services Management Returns Point of Sale 130

Retail Minded

MARCH 31, 2021

As consumers move online, vendors must process increased demand of online orders more quickly – and that can lead to mistakes. Recently, we’ve seen data supporting the value of retention vs. acquisition like improving customer retention 5% increases profits by up to 95%. . Online Demand Is Causing Costly Errors .

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Merchant Services Drop-Shipping Fulfillment Shipping 92