The holidays have come and gone. With the annual rush of consumer spending in the last two months of the year now behind us, we’re settled in for holiday season’s ugly backside: slow sales, returns, and chargebacks.
While most of us were busy taking down the Christmas decorations during the first week of January, many others were returning those wrong-sized or otherwise unwanted gifts. That’s why UPS predicted that it would return more than a million packages to retailers on Jan. 6, 2016.
Accordingly, UPS designated this “National Returns Day,” the year’s busiest day for returns. By the end of the first week of 2016, we anticipated processing more than 5 million return packages – 500,000 more than this time last year.
You’ve likely included some form of mobile marketing in your holiday campaign (brand marketers would be crazy not to have!). But we’re nearing the ninth inning of holiday shopping, and retailers are looking for one last boost this season. Well, there’s still time to amplify your efforts and make the most of mobile.
Mobile is decidedly the most impactful force behind shoppers this season.
When I was a director in live shopping television, I was the heartbeat of the show. I was the one who reacted quickly, pumping blood to each and every moving part and synchronizing their efforts toward a common outcome. Behind a switcher with about 2,500 buttons and touchscreen menus, I called out commands to my crew via headset, coached the talent through the show with their in-ear monitors, and partnered with the producer to meet sales goals.
The holiday shopping season is here. Phones will be ringing and e-commerce sites will be flooded with buyers searching frantically for that unique gift. It’s the perfect environment in which fraud can thrive unless businesses carefully examine their protocols and policies to ensure a successful holiday shopping season.
By following these six easy tips, businesses can stay ahead of the curve, and in the black, this holiday.
Given the recent success of e-commerce brands targeting men—from Bonobos to Dollar Shave Club—it’s easy to forget that just a few years ago, few people saw male shoppers as a viable market for e-commerce.
Many traditional retailers—and even those online such as Gilt—have struggled to capture the attention of male shoppers. We saw a huge gap in the marketplace back in 2012 when we started Touch of Modern.
The hot topic in the field these days is that announced acquisition of Rite Aid, the third-largest drug chain in America, by Walgreens, the largest drug chain. Assuming antitrust regulators approve the deal, which Reuters said would close in the second half of 2016, I wondered what effect it will have on the DRTV business. So I asked a few veteran drug-chain reps for their opinions.
Big Data has emerged as a buzzword that means analyzing extremely large data sets to reveal patterns and trends. How are people applying Big Data to payments? And how might it affect you?
Data analysis is nothing new. Marketers have been segmenting audiences to craft optimal messaging for decades. The same is going on in payment processing. Visa has used it to identify billions of dollars in fraud.
Like Visa, leading retailers are using Big Data to identify threats and opportunities by marrying payments data with marketing data. Here are three areas that are ripe for continued mining:
You recently received a call from one of your retail customers, not a pleasant conversation. The call is a complaint about your hottest selling product that the retail customer is selling. The same product is now available on Online Retail Marketplaces for lower than the retail price. These Online Retail Marketplaces are large e-commerce sites that allow third parties to sell products in exchange for a commission (typically 15 percent of the sale price). Amazon, eBay, Sears.com, Rakuten, and Newegg are some examples of the Marketplaces. Amazon is the leader and by far the most powerful and influential company, with almost 40 percent of people going there for their initial product search.
Retailers who conduct business online face a multitude of challenges. While their reach can be global and their convenience an incentive, the separation from the customer can present new risks. Apart from sales, security is arguably the most important aspect of running an online business. Cyber security breaches and criminal fraud are most likely already on their radar, but what some e-commerce merchants don’t know is that there are security risks where they least expect it: their own customers are often committing fraud.