All posts with the tag eCommerce
Fashion is a fickle business – but one trend that’s set to remain in style for the foreseeable future is shoppers’ penchant for buying apparel online. In 2018, clothing and footwear were the most commonly purchased online goods, while eCommerce transactions are expected to make up 36% of total fashion retail by 2022.
Of course, simply making goods available online won’t guarantee long-term revenue growth. To keep pace in the competitive world of online fashion, retailers must meet customers’ increasingly sophisticated demands. These expectations are largely being shaped by mega online marketplaces like Amazon, making it critical for independent retailers to maintain a good brand reputation. Ultimately, this comes down to their ability to offer an exceptional shopping experience across channels and borders by perfecting the path to check-out, through to delivery.
By now, we’re all familiar with the promise of eCommerce and mCommerce. Today’s busy, multi-tasking, on-the-go consumer can make all kinds of purchases while walking the dog, sitting in a boring meeting, or (gasp!) driving a car. But, despite that promise, global shopping patterns haven’t quite caught up. In fact, the digital retail economy is still very much in its early adoption phase.
According to a recent Javelin study, only 11% of retail purchases in the US were made online last year. Elsewhere, eCommerce sales rates in major economies around the globe range from significantly higher (China, 23%) to much lower (India, 2.2%), with none of them pointing to the overwhelming digital adoption we might expect.Read More
In their attempts to compete with online-only merchants, many brick-and-mortar merchants focus on building their digital operations and offerings. They see it as the key to omnichannel success. While a robust online footprint is critical for competitiveness, it’s not a panacea. By concentrating solely on what they lack, these brick-and-mortar merchants are losing sight of one of the few real advantages they have over online-only competitors: their physical locations.
As a response to these customer demands, many merchants now offer buy online, pickup in store (BOPIS) offerings, also known as click-and-collect, or in-store pickup (ISPU). Merchants can catch two birds with BOPIS: improve their staff and inventory efficiencies while simultaneously generating additional in-store revenue, as customers make unplanned purchases during in-store pickup.Read More
Any good captain will tell you it’s impossible to acquire customers in a turbulent industry like travel without a good flight plan. For airlines and online travel agencies (OTAs), that’s where loyalty and frequent flyer programs, alliances and partnerships, fare sales and social outreach all come into play.
But Facebook posts, low fares, and pretzel-filled lounges can only do so much to make thin margins work against sky-high acquisition costs. To be a truly efficient travel business, the hard work isn’t just about identifying, attracting and converting the right shoppers into paying customers. It’s also about having a reliable, scalable way to quickly tell the difference between a valid shopper and a bad actor. After all, what good is a forecast of clear skies if the right people can’t come along for the ride?Read More
With the eCommerce landscape becoming more and more competitive, merchants are being forced to constantly think of new ways to generate growth. One of the most accessible, yet underutilized, channels is cross-border online sales. Consumers are expected to spend $627 billion on goods from overseas merchants by 2022, with the highest growth rates projected in regions outside of North America and Western Europe.
Yet moving into new international markets is no simple endeavor and can be challenging to navigate. This could be why nearly 60% of surveyed US merchants reported that their eCommerce website did not accommodate global business.
Riskified created a comprehensive report that shares insights to assist retailers considering expansion into new geographical regions. In this blog post, I’ll share a taste of the findings in our full report.Read More
The 2017 holidays rewrote the eCommerce record books, and once all the data is in we’ll surely find that, as a whole, it was yet another record-setting year for online sales.
But along with this surge in eCommerce, we saw CNP fraud popping up in new places and taking new forms. In this post, I’ll look back at 2017 in eCommerce and fraud and share projections for 2018.
1) Premium shipping options will get safer for merchants
Customers are increasingly demanding omnichannel shopping options, and more ways to receive their purchased goods. As Amazon sets the standard, shipping options are becoming a competitive edge for merchants; customers are coming to expect that they can click and collect within 30 minutes, or get same day delivery.Read More
It’s no secret that millennials spend a lot of their money shopping, and unsurprisingly 67% of younger consumers prefer purchasing online. US college students alone have an estimated buying power of $523 billion, and with a lifetime of online shopping ahead of them, they are a highly lucrative eCommerce growth engine.
Yet many retailers fail to consider how their approach to fraud is preventing the maximization of profits from college-aged consumers. In this blog, I share some insights about their importance as a consumer demographic. Better understanding fraud patterns can assist merchants in nurturing these young customers and tapping into this safe revenue stream.
In the rapidly growing eCommerce market, high-friction and time-consuming identity verification processes can have a significant impact on customer acquisition and retention rates. Airlines and online travel agencies (OTAs) face the precarious balancing act of protecting revenue from CNP fraud, while providing a smooth shopping experience. When competing travel sites offer interchangeable products, brand loyalty is vital, as customers tend to be even less forgiving if merchants fail to meet their expectations.
In this article I share five actionable tips for driving online revenue while providing a good shopping experience without incurring fraud-related losses.Read More
2016 was another stellar year for eCommerce. US online year-end sales matched forecasts and surpassed $110 billion, a 13% increase over the previous year. In China, Singles’ Day sales totaled $17.8 billion, breaking the record for single-day online revenue.
Global retail eCommerce sales are expected to reach $2.3 trillion in 2017, and by 2020 the market will be worth a whopping $4 trillion! In this post, I cover key trends eCommerce merchants should look out for in 2017, along with relevant fraud management advice.Read More