4 Ways Innovative Wholesale Distributors Are Transforming Their Business

| January 1, 2020

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Rapidly evolving market realities are driving fundamental transformations in business practices in virtually every industry, including wholesale distribution. These transformations are moving rapidly through the wholesale distribution industry as they are viewed as critical for maximizing supply chain performance and delivering an exceptional customer experience.

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BCR

Banca Comerciala Romana (BCR), a member of Erste Group, is the most important financial group in Romania, offering universal bank services, leasing, private pensions, investment funds and savings-loans for housing through the national branches and business centers.

OTHER ARTICLES

How is coronavirus impacting the retail industry?

Article | March 19, 2020

Primark is one of the latest retailers to announce the temporary closure of some of its stores, in a bid to help stop the spread of coronavirus. It has closed outlets in Italy, France, Spain, and Austria (where 30% of its revenue is generated), while its UK and Northern Ireland stores at the time of publication at least remain (perhaps controversially) open. Primark is certainly not the only one to take this kind of action. Global retailers including Glossier, Nike, Urban Outfitters, and Patagonia have all indefinitely shut their stores, purely to help prevent further outbreak. In the majority of cases, employees are being paid for lost shifts. At the same time, retailers have also updated working policies to help ease the strain on staff. Starbucks, for example, has announced that it is implementing ‘catastrophe pay’ to US employees, meaning that it will now pay staff for up to 14 days if they have been diagnosed or in close contact with someone who has coronavirus.

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eCommerce losses to online payment fraud to exceed $25bn annually by 2024

Article | April 1, 2020

Ecommerce merchants are set to lose in excess of $25bn to online payment fraud by 2024, from just of $17 billion in 2020, despite the ongoing implementation of SCA (Secure Customer Authentication) in Europe. The new study from Juniper Research, Online Payment Fraud: Emerging Threats, Segment Analysis & Market Forecasts 2020-2024, finds that the popularity of eCommerce and increased card-present security with the introduction of EMV, have made eCommerce payments a compelling target for fraudsters. The research highlighted that eCommerce merchants outside Europe must adopt similar measures to SCA, including two-factor authentication, or they will suffer from increasing levels of sophisticated fraud. Payment gateways will be vital to ensure that these security requirements are implemented at scale.

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5 Ways Customer Engagement Can Boost Your Ecommerce Site

Article | February 10, 2020

“Every consumer wants a different experience when shopping, and this ‘experience‘ has become the differentiating factor for many successful business models.” This statement is even more important for ecommerce businesses, which have no face-to-face interaction with clients. With increasing competition, product quality and price are no longer enough to differentiate your brand. To stand out, you need a well-planned customer engagement strategy so they keep coming back for more. Many studies have highlighted the relationship between sales and customer engagement. According to a PwC report, ecommerce businesses can gain measurable benefits, including greater spending, by changing their customer experience strategy to make them feel appreciated. Higher engagement or personalization also impacts impulse purchases.

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How Retailers Can Handle an Influx of Store Traffic

Article | February 26, 2020

Amazon.com, Etsy, eBay these are just a few of the top grossing online merchandise sites, dedicated to making the consumer’s retail experience easier than ever. Amazon boasts its two-day shipping guarantee for Prime members, while Etsy caters to the entrepreneurial spirit of the buyer who wants their goods completely customized and unique. In theory, these sites are ideal for the busy American worker, who finds convenience and ease when shopping from the comfort of their living room. But is it enough? Do consumers really prefer shopping online? According to the numbers, the answer is surprisingly no. A recent TimeTrade study found that more than 70 percent of consumers prefer to shop at a brick-and-mortar store over Amazon. In addition, another study conducted by First Insight found that both men and women tend to spend more money in stores compared to purchases made online.

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Spotlight

BCR

Banca Comerciala Romana (BCR), a member of Erste Group, is the most important financial group in Romania, offering universal bank services, leasing, private pensions, investment funds and savings-loans for housing through the national branches and business centers.

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