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.