The deadline for U.S. merchants to be on board with Europay, Mastercard, Visa (EMV) technology is less than a week away. If merchants do not upgrade their point-of-sale terminals to EMV-compliant machines, they’ll be held responsible for fraudulent transactions.
And that looming Oct. 1 deadline meant Multichannel Merchant’s editors’ inboxes were flooded with briefing requests, media advisories, infographics, and press releases about chip-and-pin technology.
Yes. We get it. The in-store shopper will be safer with EMV cards, and the technology will cost SMBs a pretty penny.
The story for direct-to-customer merchants starts after Oct. 1. EMV will greatly reduce the impact of in-store fraud, but makes the digital world, where only the card digits and CVV are used, and the chip cannot help, a much more lucrative target for fraudsters than in-store retail.
Despite the historical data, very few vendors are talking about that. And with the holiday season right around the corner, that’s pretty scary… Here’s hoping the ecommerce world is prepared for the post-EMV reality …
With that, we’ll take a look at this weeks’ news, commentary and events that shaped the direct-to-customer world… and more.
Marketing
Designer Intimates launched the “Refer-a-Friend” app on its website in an effort to engage its site visitors and create brand ambassadors, the brand used ShopSocially to do this…eBay built new campaigns around song lyrics to show wide array of merchandise on the site… Outdoor retailer Gander Mountain is giving brand enthusiasts the opportunity to share outdoor advice and earn prizes and gift cards… EXPRESS has launched its enhanced mobile app, designed to increase loyalty and brand interaction… LOFT has teamed up with actress Busy Philipps to create two 60-second comedy shorts… Shoe Carnival has turned near-me searches into store purchases using SIM Partners’ Velocity platform… Connexity is offering marketers direct access to its premium shopping audiences… Fanatics Authentic has become the exclusive autographed memorabilia partner for the 2015 NBA Most Valuable Player Stephen Curry, and will bring basketball fans unique sports collectibles.
Ecommerce
Cultures for Health nurtured their customers back to buy after they have abandoned cart, see what they did….DirectBuy improved the member experience with the launch of their new MyDirectBuy mobile app….Kohl’s amps up its digital for a faster omnichannel experience…Express Inc., rolled out enhanced mobile app…Bake Me a Wish!, the gourmet gift online retailer, launched a new and improved website, which included user-friendly features enhancing the shopping experience and included a nation-wide partnership with CRUMBS bakery shop… ThreatMetrix says mobile wallet growth and the launch of android pay signal the need for heightened mobile cybersecurity strategies… Shopify says its new EMV credit card reader also accepts Apple Pay…
Shipping and delivery
Logistics and warehouse developer IDI Gazeley is seeking to build a 750,000-square-foot distribution center in Pembroke Pines, FL. … LG Electronics USA has signed a lease for a 745,000-square-foot distribution center in Fontana, CA. … FedEx has announced a number of rate adjustments, including a general rate increase (GRI) of 4.9% for 2016, a fuel surcharge increase and in handling charges for oversize packages. … Demand is heating up for warehouse space in areas outside urban markets to service same-day delivery, according to a Coldwell Banker executive. … FedEx is opening a new 180,000-square-foot distribution center in Bel Aire, KS, outside Wichita. … Workers have gone on strike at a distribution center at the Port of Los Angeles which serves Amazon, Kmart, Sears and Lowe’s. Exactly who they go after to address labor issues is complicated as the workers are hired by a temp agency, and the facility is run by a 3PL… A Business Insider reporter says Walmart’s in-store pickup program is rather inconvenient.
Cross-border
See why China’s economy seeing a new era of slower growth fits perfectly with Amazon China’s agenda… Ecommerce merchants should recognize several key challenges when eyeing international ecommerce growth… A one-size-fits-all approach to digital payments experiences is insufficient… Here is what global retailers should be doing— and not be doing —when it comes to mobile strategy… Global Risk Technologies is warning online merchants that the rollout of EMV in the United States is set to cause a major shift in credit card fraud to CNP transactions in the UK and Europe…
Financials
While FedEx saw revenue increase 5.1% and income rise 6% for the first quarter, earnings fell short of analyst expectations and the stock took a hit, as the company lowered its 2016 earnings forecast…Neiman Marcus reported total revenues of $1.11 billion for the the fourth quarter, an increase of 4.9%…Nike Inc., reported an increase in revenue of 5% to $8.4 billion… Pier 1 Imports Inc., reported a total sales increase of 2.7% to $430 million for fiscal year 2016, compared to $418.6 million in fiscal year 2015….Bed Bath and Beyond Inc., reported second quarter net sales of $2.9 billion, an increase of 1.7% from net sales in fiscal year 2014.
… And more
Petco Holdings Inc. is reportedly in talks with PetSmart Inc. about a possible acquisition… Hudson’s Bay Company appointed Dion Rooney as Executive Vice President of HBC Digital… Macy’s Inc. announced it is hiring 85,000 seasonal associates for the holiday season…Boden appointed Burberry senior manager as the head of ecommerce…Sears hired ex-Amazon executive to new fulfillment post.…REI promoted 25-year veteran Rachel Ligtenberg to vice-president of retail… Anu Gupta was appointed senior vice president, operational excellence at Target…