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.
At the time of its inception some two centuries ago, the supply chain was a revolutionary idea that would improve visibility and control on goods and products as they moved from point A to point B. But the old concept and technology can no longer support today’s production and supply cycles, which have become extremely fragmented, complicated and geographically dispersed.
Bad guys know retailers and businesses are working to stay one step ahead of their sophisticated and malicious attacks. To combat this, hackers are looking to gain access to sensitive information by taking a much easier route: using legitimate credentials to go right inside.