News

Juniper: Retailers brace for $71 billion card-not-present fraud loss
With fraudulent card-not-present (CNP) transactions on the rise, losses will become staggering over the next five years. Retailers stand to lose $71 billion globally by 2022, driven by a number of factors, such as the United States' shift to Europay, MasterCard and Visa (EMV) chip cards, delays in 3DS 2.0 (3D-Secure) and click-and-collect fraud. This was according to “Online Payment Fraud: Emerging Threats, Key Vertical Strategies & Market Forecasts 2017-2022,” a report from Juniper Research.
J.Crew clinched lenders’ consent to amend loan
J. Crew just bought itself some more time with its lenders. Lenders holding approximately 88% of the outstanding principal amount of loans under J. Crew’s term loan agreement have approved a term amendment. The amendment, initially proposed in mid-June, was offering to exchange its $566.6 million of outstanding pay-in-kind notes due 2019. The notes were issued by Chinos Intermediate Holdings, an indirect parent to J.Crew.

Canadian retailer prepares for bankruptcy

Sears Canada could file for Chapter 11 sooner than expected. The struggling offshoot of Sears Holdings Corp., is preparing to seek court protection against its creditors. The filing — which could happen within weeks — will likely lead to a liquidation, with the business sold off in pieces, sources told Bloomberg.
Online merchant ups the ante in online price war

eBay is stepping up its game in the online price war competition, and taking aim at low-cost rivals Walmart and Amazon, among others. Starting Tuesday, eBay launched its Price Match Guarantee on more than 50,000 deals in the United States. As the name suggests, the program promises that an eligible deal will be the best price available online, or eBay will match the lower price found on a competitor’s website.
Study: M-commerce growth helps shrink mobile user acquisition costs

Consumer reliance on mobility throughout their shopping journey presents a huge opportunity for retailers to engage shoppers. This is according to “Mobile Shopping: User Acquisition Trends and Benchmarks 2017,” a report from mobile app marketing provider Liftoff. The study analyzed 26.9 billion ad impressions across 4.8 million app installs between April 2016 and April 2017.
AmEx: Digital security concerns influence purchase behavior

Merchants may be losing out on potential e-commerce sales due to shoppers’ concerns over the security of their information in the digital world.
Study: Why shoppers choose offline over online

Physical stores still have some key benefits over online retail.
Personalized gifts retailer makes leadership changes in wake of CEO departure

There have been a couple of changes in the C-suite at Things Remembered.
Commentary: Amazon accelerating e-commerce disruption of apparel

Apparel is at a tipping point. E-commerce currently accounts for 17%-20% of total apparel sales in the U.S. Historically, when e-commerce surpasses the 20% threshold of a retail category Amazon comes in and makes a big wave, because Amazon is the main beneficiary of e-commerce capturing half of all growth in online retail. We’ve witnessed it time and time again in both media and electronics, and now it’s happening in apparel.
Whole Foods Markets CEO expects Amazon deal to evolve the brand

The ink is barely dry on Amazon’s acquisition of Whole Foods Markets, yet the natural grocer’s CEO implied that “big ideas” are already in the works.