eMarketer predicts ecommerce spending to increase from $262.3 billion (2013) to $440 billion in 2017
-a growth rate of 13.8 percent. This growth in conjunction with the EMV rollout, will contribute to an expected rise in fraud within the Card-Not-Present (CNP) channel.
This growth in ecommerce sales will largely be driven by an increase in online spending per buyer, which is on target to surpass $2,000 per year by 2018.
Multi- and omnichannel commerce offers will be pivotal for merchants in the 2014 holiday shopping season, according to a recent article from Practical Ecommerce. Small and mid-sized online retailers are projected to experience a 9 percent growth in sales, largely fueled by consumer convenience-driven promotions such as free shipping, mobile promotions, in-store pickup and other ecommerce trends. Here are a couple of considerations and resources to keep in mind as we move into this season:
- Omnichannel present new opportunities for growth….and omni-channel fraud. Buyer (and seller) beware.
- Learn from the ghost of data breaches past – Tokenization and Encryption safeguard your customers’ data.