Facebook makes it easier for businesses and consumers to communicate with each other via Messenger.
India’s most valued internet company has been devalued—yet again. In one of the most drastic markdowns for Flipkart so far, one of its investors, a mutual fund managed by Morgan Stanley, slashed the Bengaluru-based e-commerce major’s value to just $5.54 billion (Rs38,030 crore). At its peak in May 2015, Flipkart was valued at $15.5 billion.
The retail sector has benefitted hugely from the rise of digital platforms, expanding stores’ reach and offering a range of services to earn the loyalty of online buyers. Yet retailers’ innovations don’t always improve the customer experience or their own business efficiency, according to a recent study from eCommera.
Black Friday online sales this year topped US$3 million for the first time ever, hitting US$3.34 billion, a 21.6% increase over the same day in 2015. And this past Monday, online consumers toppled even that record –– spending a collective $3.39 billion, making it the largest online shopping event in history.
Early numbers are in from Cyber Monday, and all indications are that Cyber Monday - and, in fact, the entire Thanksgiving Weekend - are successes for e- and m-commerce. According to HookLogic shoppers using their smartphones accounted for 43% of all shopping for Cyber Monday.
False declines cost merchants plenty: billions in lost sales and even more in broken consumer relationships. That commerce-killer is what inspired Mastercard to create its new Decision Intelligence platform, which launches today with a promise to turn false declines into a thing of the past for the payments ecosystem.