Trends: Finance

Article about trends in Finance

  1. Data & Insights

16 ways to improve Average Order Value during the holidays

Is average order value important? Of course, it’s a key metric that e-commerce brands should focus on during this holiday season. Increasing the average order value directly boosts your store’s revenue, increases customer loyalty, and retention and reduces churn rate. How Does Average Order Value Influence Customer retention? If a customer spends a lot on […]
6 min read
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  1. Media & Marketing

Electronics retailer Maplin deploys new TrueLayer payments app as it goes live in Shopify App Store

FinTech firm, TrueLayer, reports that its new payments app is now live in the Shopify App Store, allowing UK and EU merchants to add open banking payments to their checkout. Electronics retailer Maplin has gone live with the app, with further partners to be announced soon. The move enables Shopify merchants to add instant bank […]
2 min read
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  1. Trends & External Forces

NRF: Holiday Spending Could Top $966B, but Shift from Goods to Services Continues

The National Retail Federation (NRF) is predicting robust holiday sales, with U.S. spending forecast to climb 3%-4% over 2022, generating between $957.3 billion to $966.6 billion. While the 2023 growth rate is lower than in recent years, when stimulus spending helped inflate retail sales, it’s in line with the average annual holiday increase of 3.6% […]
2 min read
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  1. Media & Marketing

FreedomPay research: One in five Brits don’t trust digital wallets amid £138 billion decade shift 

UK digital wallet transactions across retail, leisure and hospitality are set to rise to £210 billion by 2033, while cash usage halves, according to research from FreedomPay and Retail Economics, supported by a UK consumer survey across 2,000 households. The nearly £138 billion shift to digital wallets over the next decade comes as 46.3% of […]
2 min read
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  1. Shopper & Customer

Three ways financial services brands can better help young people navigate the cost of living crisis

For most younger consumers, the rising cost of living represents the first experience of a challenging economic environment. Already, a quarter of 18-24 year olds say they are uncomfortable with their debt levels, while more than four in ten of this age group expect their debt levels to increase over the next year. With less […]
5 min read
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  1. Shopper & Customer

Understanding and Overcoming eCommerce Cart Abandonment

eCommerce cart abandonment is a pervasive challenge that businesses across the globe grapple with. According to the Baymard Institute, the average documented online shopping cart abandonment rate is about 70 percent, a figure that can be disconcerting for any business. This means that seven out of ten online shoppers add items to their cart and […]
7 min read
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  1. Data & Insights

Streamlining Your Checkout Page for success this Holiday Season

Did you know that 7 in 10 customers abandon their cart?(statista). The number one reason for cart abandonment is the additional charges levied during checkout. Streamlining your checkout processes and making sure that your checkout page provides as much information as it can,is a key factor to turning a potential customer into an actual customer. […]
4 min read
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  1. Shopper & Customer

Inmar Intelligence 2023 Holiday Spending Survey Reveals Continued High Prices Will Make Savings Critical

Inmar Intelligence, a leading data platform company, today published the results from its 2023 Holiday Spending Survey, which unveiled insights about consumer spending behavior and trends in advance of the upcoming holiday season.
2 min read
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  1. Technology & Innovation

QuoteMachine closes $3.7 million seed funding round to accelerate high value sales for SMBs 

QuoteMachine has closed $3.7 million in seed funding led by Manresa Ventures with additional investments from Clocktower Technology Ventures and Precursor Ventures. The startup, whose retail software platform enables SMBs to scale their big ticket sales and tailored sales experiences involving human interactions, has raised $4.6 million to date. It intends to use the capital […]
2 min read
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  1. Shopper & Customer

Is Cash King Again? UK Consumer Spending Habits in a Cost of Living Crisis

There were very few industries that weren’t affected by the COVID-19 pandemic, and the UK finance industry was no exception. Driven by restrictions on physical locations, the industry as a whole forged a greater reliance on digital channels. The move to a predominantly digital model was a long-time coming, innovations in financial technology have created […]
5 min read
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  1. Shopper & Customer

How GSN Makes Buying Fine Jewelry Friction-Free and Fiscally Responsible

Gem Shopping Network (GSN) has carved a unique space in the shoppable media market: Its primary business is still conducted via linear television, akin to the Home Shopping Network and QVC, but it also is growing significantly through connected TV (CTV) and streaming platforms like Apple TV, Roku and YouTube. And thanks to a seamless […]
5 min read
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  1. Trends & External Forces

The Role Of Business Credit Cards In E-Commerce Retail

If you’re the new owner of an e-commerce business, then you’re already off to a great start. The e-commerce world has been on an incredible upward trajectory — with 70% of Americans shopping online, it’s clear that digital selling is the future of business.  In this dynamic market, building up your business credit is key, […]
3 min read
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  1. Retailer Media

Buy Now, Pay Later … And Then Launch A Retail Media Network?

Klarna is best known as a buy-now, pay-later (BNPL) service for ecommerce purchases. But don’t be surprised if you see the Swedish payments company eventually launch its own retail media network, joining what has become a very crowded landscape. “There are plenty of them, and I see more and more popping up,” says Klarna’s CMO, David […]
< 1 min read
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  1. Shopper & Customer

One in five shoppers now pay for groceries in installments: report

    [[“value”:” TOP TAKEAWAYS Of the 60% of consumers who have used some type of installment payment plan in the past 12 months, 34% have done so to purchase groceries Clothing and accessories represent the most popular category for installments at 40% 73% share of bridge millennials who used installment plans over the past […]
2 min read
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  1. Data & Insights

Behind the Retail Checkout: The Importance of Tokenization and Data Portability

A frictionless checkout experience and a need for data security and portability are crucial concerns for retailers and consumers alike. On one side, consumers demand payment optionality at checkout, while on the other, retailers strive to meet that challenge by utilizing various payment service providers (PSPs) and payment methods. It’s no wonder then that at […]
2 min read
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  1. Technology & Innovation

All Saints founder Stuart Trevor unveils new fashion brand, powered by Stored payments technology

All Saints founder Stuart Trevor is introducing a new eponymous brand that creates clothes solely from discarded material, and taps technology from Stored, a mobile payments startup. “I am excited to see our payment technology align with Stuart Trevor’s visionary approach. This partnership exemplifies our commitment to redefining the shopping experience, where sustainability and convenience […]
2 min read
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  1. Shopper & Customer

FTC’s ‘Click-to-Cancel’ Proposal: A Step Forward for the Negative Option Model

So-called “negative option” services are a controversial yet time-tested method of doing business. Under this model, a customer signs up for a subscription service, typically as part of a free trial offer. The customer is then charged on an ongoing basis unless they explicitly cancel the service in question. The folks at the Federal Trade […]
4 min read
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  1. Shopper & Customer

Top Marks: How Retailers Can Stay One Step Ahead of Savvy Back-to-School Shoppers

For many retailers, the back-to-school season is one of the biggest events of the year — and 2023 is looking to be no exception. According to the National Retail Federation (NRF), total expected spending will be $890 per U.S. household for back-to-school shopping in 2023, for a total of $41.5 billion. Back to college looks to […]
4 min read
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  1. Data & Insights

6 Consumer Trends Shaping 2023 Holiday Shopping

Upcoming days to look forward to – Halloween, Thanksgiving, Black Friday, Cyber Monday, Christmas, Boxing day and New Year’s – which only means one thing for the e-commerce stores. THE BUSIEST SHOPPING SEASON OF THE YEAR. 59% of US consumers planning to shop online this year, and 63% of consumers are planning to spend more […]
5 min read
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  1. Technology & Innovation

The impact of payment methods on casino growth

Payment methods with fast transactions are in high demand in the casino space. Everyone wants an app that can process deposits instantly. And when they need to withdraw their winnings, they expect their banking partners to facilitate quick withdrawals. Surprisingly, wire transfers are still a popular payment option in the casino sector despite processing payments […]
4 min read
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  1. Channel: Ecommerce & Digital

Amazon Pay Adds BNPL Option for Prime Visa and Amazon Visa Cardholders

Prime Visa and Amazon Visa cardmembers can now make equal monthly payments for items they purchase on tens of thousands of participating online retail sites when they use Amazon Pay. Consumers will be able to split payments across six or 12 months at 0% APR on purchases of $50 or more. Eligible Prime Visa and […]
< 1 min read
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  1. Shopper & Customer

A cross-border spotlight: How to market to the Canadian Gen Z audience

It’s not an easy time for anyone to be navigating the world right now – what with economic, social and environmental headlines constantly reminding us of the instability of things. It’s even more difficult for Gen Zs; individuals who have experienced setbacks and missed out on milestones thanks to the pandemic but still need to […]
4 min read
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  1. Trends & External Forces

Fraud is Taking a Financial Toll on the Retail Industry

The retail industry is impacted by fraud every day — and oftentimes every hour — as incidents continue to run rampant. Bad actors infiltrate both small and large businesses regularly, resulting in billions of dollars in losses for retailers each year. In fact, fraud cost Americans nearly $8.8 billion in 2022, with 2.4 million consumers […]
3 min read
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  1. Shopper & Customer

How E-Commerce Can Harness Payments Innovation to Meet Consumer Demands for Back-to-School

In today’s ever-evolving digital landscape, the checkout process has emerged as a pivotal moment for online merchants to not only differentiate themselves from competitors but also deliver an exceptional shopping experience for their customers. As the demand for convenience continues to grow and new payment methods gain popularity, retailers must understand how to best leverage […]
2 min read
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  1. Retail Operations

Sweaty Betty deploys NewStore mobile first omnichannel platform in UK and Ireland stores

Sweaty Betty has rolled out NewStore’s mPOS solution in 73 stores across the UK and Ireland. By replacing its legacy PoS with this tech, the London-based brand now runs its retail operations entirely on iPhone, laying the groundwork for its omnichannel transformation.  “Sweaty Betty has quickly grown from a small London boutique to an international […]
2 min read
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  1. Channel: Ecommerce & Digital

Amazon Sees Record-Setting Prime Day Sales

The Seattle Times reports that “Amazon marked its largest sales day ever Tuesday, the start of a two-day Prime Day sales event that saw shoppers spend billions to buy more than 375 million items, the tech and e-commerce giant said Thursday after the sale ended.  “Prime Day spending in the U.S. clocked in at $12.7 […]
2 min read
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  1. Channel: Ecommerce & Digital

Prime Day 2023 Marks Biggest Day of Sales in Amazon History

July 11, 2023, the first day of Amazon’s annual Prime Day sale, was not just the largest single sales day in Amazon’s history, it was also the biggest day for ecommerce sales thus far this year, according to Adobe. Data from Adobe Analytics showed that U.S. consumers spent a total of $12.7 billion over the two-day event, up […]
2 min read
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Kroger Delivers its First-Party Data to the Yahoo DSP

Yahoo Advertising and Kroger Precision Marketing (KPM) — the retail media business of Kroger, powered by 84.51° — are teaming up to bring Kroger’s first-party, purchase-based audiences to the Yahoo Demand-Side Platform (DSP). Yahoo DSP advertisers can now activate KPM’s audiences to reach targeted consumers with their advertising and measure campaign results. While off-site advertising […]
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Amazon tops expectations for revenue, earnings

SEATTLE – Amazon posted better-than-expected revenue and earnings in the quarter ended March 31. Net sales increased 13% from a year earlier to $143.3 billion. The company reported first-quarter net income of $10.4 billion, or 98 cents a diluted share, compared to $3.2 billion a year earlier. Amazon’s operating income surged to $15.3 billion, up […]
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Walmart to close all 51 health centers

BENTONVILLE, Ark. — Walmart today said it has made the “difficult decision” to close its Walmart Health and Walmart Virtual Care clinics, citing a lack of profitability. “The decision to close all 51 health centers across five states and shut down the virtual care offering was not easy. We understand this change affects lives – […]
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