E-commerce

Riskified, a specialist in ecommerce fraud and risk intelligence, published “Policy Abuse and Its Impact on Merchants: Global Benchmarks 2023,” revealing consumer misuse of refunds, returns, and promotional programs, alongside resellers, is forcing retailers and merchants to strike a difficult balance between keeping clients and accepting an inevitable loss in profits.

Riskified, an ecommerce fraud and risk intelligence firm, announced an enhanced partnership with global payments firm Mastercard, that will improve the ability of businesses across the globe to grow online revenues and profit while mitigating the risk of fraud and chargebacks. Riskified’s machine learning platform provides merchant fraud teams with highly accurate, automated risk-decisioning for ecommerce transactions. This alliance breaks ground in the ecommerce fraud space by marrying insights from Mastercard’s world-leading cybersecurity products and solutions with Riskified’s extensive transaction and identity network.

In a bold move to transform the e-commerce landscape, StoreConnect, a global provider of e-commerce solutions, is set to unveil its “Customer Commerce” business solution at this year’s Dreamforce in San Francisco. A comprehensive solution built on Salesforce, the #1 CRM in the world, prioritizes customer relationships by aligning all content, product, customer and stock information into one single multi-store mobile, web and point of sale system.

After significant growth in pandemic years, consumer online retail spending has stabilised according to the Australian Ecommerce Report 2023 from IAB Australia and Pureprofile. The new research report found that 67% of consumers reporting convenience is still the number one reason for purchasing online, however with recent rises in the costs of living, the report also found consumers are increasingly focusing on discounts, loyalty programs and seeking price comparisons to minimise unexpected price increases when they shop online.

The e-commerce industry has long been divided into two camps: intricate setups demanding external assistance and substantial financial investments, or deceptively simplistic "plug-and-play" options, like a well-known platform that lure businesses with their initial ease but morph into unreliable "plug-and-pray" solutions. Mikel Lindsaar, CEO of StoreConnect, a trailblazing force in the e-commerce industry, has secured $9 million in a seed round led by Bellini Capital.

Aussie e-commerce company, Awayco, has raised $11m to help large retailers offer retail, rental and appointment experiences that consumers love and expect. The funding round has been led by Thorney Investment Group and a cohort of high-net-worth individuals. The funding will enable Awayco to scale its suite of e-commerce applications and grow its team.

Alipay+, which provides a suite of revolutionary global cross-border digital payments and marketing solutions, has announced the launch of Premier Partner Program across the world as a major innovation on destination-focused and mobile-native marketing operations. During the launch phase, the program has attracted some 30 top Asian retailers including Daimaru Matsuzakaya Department Store and Shilla Duty Free to become the first Alipay+’s premier partners. Designed to improve precision and efficacy of cross-border marketing in an increasingly digitalized world, the Alipay+ Premier Partner Program aims to expand marketing resources for local and global merchants with adaptive and unique digital operational tools.

Australian ecommerce enabler and third-party logistics provider, B dynamic Logistics, has appointed Adam Quinn to the newly established role of Head of Growth. Adam Quinn is the grandson of Brian Quinn, widely considered retail royalty for his groundbreaking roles in designing and maintaining equipment used to manufacture iconic ice cream confectionary including Splice, Golden Gaytime, Paddle Pop, Calippo, Magnum, Vienetta and more.

The popularity of secondhand electronic devices is steadily growing worldwide and B-Stock Solutions announced key strategic partnerships designed to ensure that the highest quality secondhand devices are made available to its clients and ultimately to the end-consumer. B-Stock is a world-renown B2B recommerce marketplace. Billions of returned and overstock items are resold every year on B-Stock, thanks to its unparalleled liquidity, streamlined processes, and vast recommerce expertise and insights.

Loop, the return management platform, has launched expanded support for Warranties. This feature will allow merchants to create return policies specifically for warranties and product quality guarantees, as well as review and process those claims within the Loop platform. Support for Warranties via Loop will also enable shoppers to self-serve standard return types and warranty or product quality guarantee returns in the Loop platform, driving satisfaction and cultivating brand loyalty. Merchants will now be able to streamline processes across all returns types, while integrating warranty programs within the post-purchase experience.