Payments Blog

Holiday Shipping Challenges

Posted by CardinalCommerce
Aug 15, 2017 8:30:00 AM

The holiday season is supposed to be the most wonderful time of the year but, in reality, it can be the most hectic. For consumers, it’s harder to shop for gifts since stores are crowded, and it’s difficult to find the perfect gift since products often fly off the shelves. Even if you’re shopping from your desktop or mobile phone, you can run into inventory problems, which occur when a merchant doesn’t have the exact size, make or color of a certain product that you want.

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Topics: holiday, Shipping

Mobile Commerce & The Holidays

Posted by CardinalCommerce
Aug 8, 2017 8:30:00 AM

Every year, the day after Thanksgiving, consumers flock to their favorite retail stores to capitalize on Black Friday deals. For merchants and consumers, it’s the unofficial beginning of the holiday shopping season.

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Topics: Mobile Commerce, holiday

The Perils of the Holiday Season

Posted by CardinalCommerce
Aug 1, 2017 8:30:00 AM

For many merchants, life isn’t easy. In the digital commerce world, merchants often have several different things on their plate. They need to effectively market their products or services, create sales opportunities and turn those opportunities into tangible sales.

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Topics: Fraud, holiday

Chargeback Day and the Lessons Learned from the 2016 Holiday Season

Posted by CardinalCommerce
Jan 31, 2017 8:30:00 AM

Once again, the holiday season has come and gone, seemingly in an instant. During this two-month period, consumers continued to migrate towards digital channels, and away from brick-and-mortar stores, to do their holiday shopping. Consumers transacted via mobile devices at a remarkable rate, as evidenced by the surge in activity on Black Friday. November 25th, or Black Friday, became the first day in retail history to account for over one billion dollars in mobile revenue, totaling $1.2 billion, according to Adobe.

While the digital sector of the retail industry carried this momentum throughout the season, department stores underperformed, relative to their digital counterparts. While sales at traditional, brick-and-mortar stores still account for a vast majority of all retail purchases, the digital channel continues to gain share in the retail industry. This holiday season, brick-and-mortar sales fell 10 percent, and store traffic fell 12 percent however, average order value rose 4.8 percent, according to RetailNext. Despite the consistent, and continued, growth of the digital sector, consumers are still saving their biggest purchases for brick-and-mortar stores, even if they are spending less money at these stores over the course of the entire holiday season.

While online merchants have a lot to celebrate in the aftermath of the holiday season, they also have a glaring concern: chargebacks. Chargebacks, those transactions that are disputed by a consumer’s issuing bank, at the request of the consumer, are very prevalent for online merchants, particularly after the holiday season. Chargebacks occur so frequently after the holiday season that the second Tuesday in January has been dubbed “Chargeback Day.” If they’re not careful, online merchants can lose significant portions of their revenue to chargebacks and chargeback fees.

In addition to chargebacks, these merchants must worry about, and monitor, their conversion rates, the rate at which visitors of their website become consumers by making a purchase. Typically, merchants that create a frictionless consumer experience on their digital channels will have outstanding conversion rates, and will maintain a satisfied consumer base, which will create additional revenue. But, merchants that maintain a friction-filled consumer experience will consistently lose consumers and will see their conversation rates plummet, as these consumers will likely leave their website, and never return.

The holiday season is supposed to be the most wonderful time of the year. But if online merchants aren’t prepared, they will find coal, rather than revenue, in their stocking. Connect with Cardinal to learn more about Cardinal Consumer Authentication, how it can reduce chargebacks and how it can ultimately improve your online business. With your One Connection to Cardinal, we can drive your digital commerce.

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Topics: Fraud, CardinalCommerce, chargebacks, online shopping, mobile, CNP, conversion rates, holiday

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