47,000: Minimum number of chain stores throughout the U.S. that have temporarily closed their doors.
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28%: Share of U.S. survey respondents who said they were using eCommerce to "stock up" on food.
In case you are keeping track:
Ecommerce isn't faring any better in the social distancing era
But instead of a rebound, Ratio's sales plunged sharply after the first week of March as the coronavirus outbreak suddenly and drastically changed consumer spending.
Don't get left on the shelf in the ecommerce evolution | The Drum
The marketing sector can be a complicated place as new marketing tools and techniques are launched, almost on a weekly basis. Powered by The Drum Network , this regular column invites The Drum Network's members to demystify the marketing trade and offer expert insight and opinion on what is happening in the marketing industry today that can help your business tomorrow.
Manufacturers are facing a retail armageddon and need to find new ways of driving sales direct or squeezing as much as possible through the ecommerce platforms of their partners. Pivoting to a DTC business is not a quick fix and for many brands, their own ecommerce sites are just not fit for purpose or the budgets are not available to drive the qualified traffic through to purchase.
eCommerce Rising: Retailers Watch For Trendlines | PYMNTS.com
So far, we know a lot about what U.S. consumers are not doing. As seen in Karen Webster's report on our exclusive COVID-19 consumer survey , we know they're not staying in hotels (-26 percent), eating in restaurant dining rooms (-36 percent) or using public transit (-29 to -35 percent).
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The PYMNTS study found that 28.3 percent of respondents shop in stores less often and 10.5 percent shop online more often. The survey saw shopping of all kinds drop dramatically among those with incomes less than $50,000. More affluent consumers seem focused on avoiding public spaces, instead going online to buy what they need and want. It's defining that "need and want" that will determine how eCommerce retailers go to market and will predict what level of spend they expect to see.
Not to change the topic here:
The Ecommerce Surge: Guarding Against Fraud - BankInfoSecurity
As more consumers shift to online shopping during the COVID-19 pandemic, retailers must ramp up their efforts to guard against ecommerce payment fraud , says Toby McFarlane, a cybersecurity expert at CMSPI, a payments consultancy.
"Retailers should have in place already tools to monitor fraud and approval rates" so they can be benchmarked, McFarlane says in an interview with Information Security Media Group. "If you see a spike in fraud, for example, you want to know if that's a general industry trend or if that is something specific to your business."
Yotpo Names the Most Innovative eCommerce Agencies and Technology Companies | MarTech Cube
Yotpo , the leading eCommerce marketing platform, has announced the winners of the third annual Yotpo Partner Awards.
Drawing from hundreds of nominations from a thriving ecosystem of system integrators, agencies, and technology providers, Yotpo’s Partner Awards highlight the companies and brands at the cutting-edge of producing eCommerce and marketing experiences that spark and sustain customer relationships. The winners represent work for a variety of industries and brands, from apparel to home, to a D2C spinoff brand and celebrity makeup line.
How a decade of ecommerce changed retail returns
Let's start with the obvious: over the past decade, online shopping exploded. In 2010, ecommerce made up only 4.2% of all retail sales in the U.S. In 2019, ecommerce accounted for north of 16% of retail sales , and Cyber Monday hit a record of $9.4 billion. Ecommerce nearly quadrupled, and completely changed shopping as we know it.
But, a lesser-known reality: ecommerce unleashed back-end chaos for retailers. Since consumers buy items sight unseen, they can't try on clothes or know how an item really looks and feels. As a result, ecommerce can have three times the return rate of brick-and-mortar retail. And so, as ecommerce climbed, the volume of retail returns reached new heights.
eCommerce Helped Nike Mitigate Lost China Sales | PYMNTS.com
After the COVID-19 outbreak, business for Nike Inc. has bounced back in China. The brand was also able to help mitigate lost sales with eCommerce orders, which is a path management foresees taking in Europe as well as the U.S., The Wall Street Journal reported.
CEO John Donahoe said, according to the report, "We are seeing the other side of the crisis in China. We now have a playbook we can use elsewhere." Donahoe pointed to the blueprint as an indicator of how the firm will salvage sales in other locations.
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