Express Inc. is closing 100 stores by 2022 as it focuses its attention on growing its ecommerce business. Express expects the store closures will reduce sales by $90 million in the next two years, but boost its overall profits. The clothing brand already closed nine stores and will close 66 more by the end of January 2021.
While closing stores will decrease sales, it will also save Express the cost of operating them. The retailer said it expects to save $80 million p er year over the next 3 years as a result of the closings. The apparel brand also estimates it can increase its before-tax earnings by $15 million by 2020 if it improves its online infrastructure and uses its remaining stores more efficiently.
Not to change the topic here:
Protecting eCommerce Merchants From Fraud | PYMNTS.com
Merchants have to participate in eCommerce if they want to maintain relevancy in today's economy, but their engagement in online transactions also exposes them to new forms of fraud. Legacy security methods such as rules engines cannot keep pace with modern fraudsters, and artificial intelligence (AI)-based behavioral analysis, as well as better data sharing, are crucial to safer eCommerce . And in digital fraud, phishing poses a unique threat to businesses. All this, Today in Data.
US Moves To Curb Pirated eCommerce Goods | PYMNTS.com
The U.S. is moving to get tough on the sale of counterfeit merchandise online, notifying eCommerce marketplaces and warehouses that they will get hit with fines if they don't pull knockoffs out of circulation, The Wall Street Journal reported.
The Department of Homeland Security (DHS) is planning to release a report on Friday (Jan. 24) that summarizes an immediate plan to fight fakes — and calls on eCommerce sellers to assist in the effort.
Ecommerce in UK grew 6.7% in 2019
Ecommerce in the United Kingdom grew 6.7 percent last year. This is an all-time low. The discouraging growth rate is especially significant when you compare it to the 11.8 percent growth rate in 2018.
It wasn’t the best year for the ecommerce in the United Kingdom . This is mostly due to a difficult start, as online retail sales grew only 5.4 percent in the first half of the year, compared to the same period in 2018. In the second half, ecommerce sales grew 7.6 percent year-on-year.
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Top things to consider while selecting the ecommerce platform and developing an online store |
Not all websites are the same. Your website can be for Business to Business (B2B), Business to Customer (B2C) or Customer to Customer (C2C). Depending upon your website type, you have to prepare the strategy.
This goes without saying that you need to determine your budget for your ecommerce website. Apart from the development cost, most platforms have monthly fees, which vary depending on the type of platform you choose (hosted or self-hosted).
Carefully check everything the platform has to offer to understand exactly what you are paying for and make your selection based on that. You should compare services and find the most appropriate one.
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US says e-commerce firms need to do more about fake goods – Lowell Sun
WASHINGTON (AP) — E-commerce has unleashed an increasing torrent of fake merchandise upon the world and private companies and the U.S. government must do more to address the problem, Trump administration officials said Friday as they released a plan aimed at cracking down on counterfeit goods.
An "action plan" released by the Department of Homeland Security says the government will apply increased scrutiny of e-commerce, including the third-party sellers who sell goods on the major online sites as well as shippers and operators of the warehouses where merchandised is stored.
3 Savvy Tips For Starting An E-Commerce Business In 2020
Aside from the laundry list of tasks you must complete to start an e-commerce business (legalities, domain name, building a website, marketing the product), there are a few tips that aren't talked about as often, but really make the difference between a successful e-commerce launch and one that will flop.
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It may seem too expensive and time consuming to 'split test' (compare how two different funnels perform side by side), so first get feedback from mentors and other reputable e-commerce connections on your original copy, then add in elements such as an 'exit pop.' An exit pop is a notification that offers an appealing discount for your product if they buy now. If it works, you can assume that the funnel got them halfway there.
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