Newsroom - Signifyd News release archive | Signifyd https://www.signifyd.com/news-releases/ Fraud and Consumer Abuse Protection for Companies Tue, 05 Dec 2023 22:27:44 +0000 en hourly 1 https://wordpress.org/?v=6.3.2 https://www.signifyd.com/wp-content/uploads/2020/11/cropped-Signifyd-Logo-Favicon-512x512-solid-32x32.png Newsroom - Signifyd News release archive | Signifyd https://www.signifyd.com/news-releases/ 32 32 Cyber Five Online Sales Shattered Expectations as Inflation-Weary Consumers Embraced Deep Discounts https://www.signifyd.com/news-releases/cyber-five-online-sales-shattered-expectations/ Tue, 28 Nov 2023 15:00:16 +0000 https://www.signifyd.com/?post_type=news_release&p=51159 SAN JOSE, Calif.–(BUSINESS WIRE)–Cyber Five online sales doubled pre-holiday expectations, powered by a discount-fueled shopping frenzy on Black Friday and Cyber Monday, leaving retailers wondering whether more big days were ahead or if consumers had spent themselves out for the holiday season. Robust Black Friday and Cyber Monday shopping pushed five-day sales up 8% over…

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SAN JOSE, Calif.–()–Cyber Five online sales doubled pre-holiday expectations, powered by a discount-fueled shopping frenzy on Black Friday and Cyber Monday, leaving retailers wondering whether more big days were ahead or if consumers had spent themselves out for the holiday season.

Robust Black Friday and Cyber Monday shopping pushed five-day sales up 8% over last year’s long holiday weekend, Signifyd data shows.

Cyber Five sales increased 8% over a year ago, helped by a boost in buying on Cyber Monday, which saw sales up 7% over 2022, and Black Friday, during which sales increased 11% year over year, according to commerce protection provider Signifyd. Even Saturday and Sunday showed strong sales — up 7% and 8% respectively.

Deep discounts eased consumers’ inflation worries

Discounts drove the strong performance. Cyber Five shoppers increased their use of discounts by 38% over last year, Signifyd data showed, enjoying price reductions that were 14% higher than a year ago. On Cyber Monday, consumers increased their use of discounts by 43% over last year. The average discount over the five-day period was 27.4%, up from 24% in 2022.

“Consumers have been saying that value is especially important to them this holiday season,” Signifyd Chief Customer Officer J. Bennett said. “Merchants have heard that message and responded. And for their part consumers have said, ‘These discounts represent true value. Now is the time to buy.’”

The dramatic boost in sales — Signifyd had initially predicted Cyber Five sales would rise 4% this year — was led by strong performances in some traditional gift categories, including luxury goods, beauty and cosmetics, apparel, alcohol, tobacco and cannabis, and leisure and outdoor goods. Grocery also had a strong weekend. Electronics sales were down 2%.

Cyber Five 2023 sales vs. Cyber Five 2022 by vertical

Alcohol, tobacco and cannabis

+29%

Grocery and household goods

+20%

Beauty and cosmetics

+14%

Luxury goods

+13%

Leisure and outdoor

+12%

Fashion, apparel and luggage

+11%

Home goods and decor

+4%

Electronics

-2%

Generous discounts and strategic pricing by online merchants effectively neutralized inflation. Prices during the long Cyber Five weekend were 11% lower than they were during the first half of 2023, a Signifyd analysis found. Signifyd compared the prices of 175,000 products that were selling in the first half of the year to their prices over the weekend.

Value-conscious consumers took advantage of lower prices all weekend. During the Cyber Five, 29% of orders were accompanied by a discount code. On Cyber Monday, consumers added discount codes to 30% of their orders.

Are consumers spent out or ready to buy?

With four weeks to go in the holiday season, the question remains: Was the breakout Cyber Five a sign of shopping to come or did discounts simply encourage consumers to finish their holiday shopping in November instead of December?

“I’ll be curious to see how much of the Cyber Five spending was a pull-forward from December,” Bennett said. “If I had to project right now, I’d say November is going to end stronger than we projected, and December will fall a little short of expectations. Consumers have said they have a set budget for the holidays. They’re just searching for the best value, the best place to spend that money.”

Among the weekend’s many bright spots: Fraud pressure — or the number of orders Signifyd deemed to be fraudulent — dropped by 20% over last year’s Cyber Five. The figure was notable, given that U.S. merchants faced a massive fraud attack during holiday 2022. An organized fraud ring last year made off with an estimated $660 million in goods from online retailers nationwide while attempting fraudulent purchases of more than an estimated $3 billion in products.

Methodology

Signifyd’s Holiday Season Pulse Tracker data is derived from transactions on Signifyd’s Commerce Network of thousands of ecommerce retailers and brands. Commerce Network intelligence also powers Signifyd’s Commerce Protection Platform, which leverages AI-driven machine learning models and data from millions of transactions to detect and block fraudulent activity. Signifyd has seen more than 600 million unique shopper wallets1 globally, meaning that 98% of the time when a shopper comes to a Signifyd-protected site, Signifyd’s machine-learning models recognize the shopper instantly. For a tutorial explaining the methods and meanings behind Signifyd’s Holiday Season Pulse Tracker visit Signifyd’s YouTube channel.

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1 A digital wallet is a distinct combination of signals present in an online transaction.

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Signifyd Deepens Its Partnership with Adobe by Integrating Guaranteed Fraud Protection into Payment Services for Adobe Commerce https://www.signifyd.com/news-releases/signifyd-deepens-partnership-adobe-integrating-guaranteed-fraud-protection/ Mon, 23 Oct 2023 16:00:39 +0000 https://www.signifyd.com/?post_type=news_release&p=50780 SAN JOSE, Calif.–(BUSINESS WIRE)–Signifyd is launching a new era of payment protection today by integrating its Commerce Protection Platform with Payment Services for Adobe Commerce. In doing so, Signifyd becomes an integrated fraud protection provider for Payment Services for Adobe Commerce. The expanded partnership extends seamless protection against all manner of chargebacks by integrating Signifyd…

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SAN JOSE, Calif.–()–Signifyd is launching a new era of payment protection today by integrating its Commerce Protection Platform with Payment Services for Adobe Commerce. In doing so, Signifyd becomes an integrated fraud protection provider for Payment Services for Adobe Commerce.

The expanded partnership extends seamless protection against all manner of chargebacks by integrating Signifyd with Payment Services for Adobe Commerce to power frictionless checkout, higher conversion and increased customer lifetime value.

The expansion of this partnership builds a broader, more robust network that provides the deeper insight into transaction intelligence needed to protect merchants from fraudulent orders and attacks. Siloed data has long been a hurdle for the multitude of payments players looking to have full visibility into the identity and intent behind online transactions. Merchants no longer have to face the unenviable choice of adding friction and barriers to checkout or leaving themselves vulnerable to costly fraud attacks.

Signifyd’s integration with Payment Services for Adobe Commerce is the latest acknowledgment that successful ecommerce leaders are embracing visionary innovation to optimize the payment layer from the beginning to the end of the digital buying journey.

The technical integration has opened a vast new data network which empowers Signifyd’s AI-powered decision model to provide optimum performance for Adobe Commerce merchants. The system’s precision allows Signifyd to offer a financial guarantee covering all chargebacks on approved orders, whether disputes arise from traditional payment fraud or from consumer complaints, including that a package never arrived or that an order was never placed.

“Adobe Commerce is known for providing merchants with the solutions they need to offer their customers best-in-class online experiences,” said Will Wyatt, Signifyd vice president, global partnerships & channel sales. “As a fraud-protection provider, Signifyd extends those best-in-class experiences to checkout and the payment process, lifting conversion for merchants while increasing their revenue and maximizing customer lifetime value.”

“A key tenet of Payment Services for Adobe Commerce is to provide the highest level of transaction intelligence, reporting and security to our clients,” said Jason Knell, Adobe’s senior director, commerce services GTM & content partnerships. “As a leader in merchant transaction protection, Signifyd’s expansive network and ability to provide the highest level in payment decision accuracy made them a top choice for our payment protection offerings.”

Payment Services for Adobe Commerce merchants will now benefit from Signifyd’s insight into more than 600 million digital wallets1. That massive network means that when a shopper transacts on Signifyd’s Commerce Network, the fraud protection provider recognizes elements of the transaction 98% of the time. A Signifyd analysis found that those insights helped its top 600 customers realize a 5% to 9% increase in approved orders.

1 A digital wallet is a distinct combination of signals present in an online transaction.

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Signifyd Study Predicts a 5% Rise in Holiday Ecommerce This Season, as Consumers Battle Inflation and an Uncertain Economy https://www.signifyd.com/news-releases/signifyd-study-predicts-5-rise-holiday-ecommerce-as-consumers-battle-inflation/ Mon, 16 Oct 2023 16:00:10 +0000 https://www.signifyd.com/?post_type=news_release&p=50802 SAN JOSE, Calif.–(BUSINESS WIRE)–Online sales will see slim growth this holiday season with ecommerce spending over the Cyber Five weekend projected to be 4% higher than last year and total season sales up 5% compared to 2022, according to a data analysis by commerce protection provider Signifyd. Online sales will see slim growth this holiday…

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SAN JOSE, Calif.–()–Online sales will see slim growth this holiday season with ecommerce spending over the Cyber Five weekend projected to be 4% higher than last year and total season sales up 5% compared to 2022, according to a data analysis by commerce protection provider Signifyd.

Online sales will see slim growth this holiday season with ecommerce spending over the Cyber Five weekend projected to be 4% higher than last year and total season sales up 5% compared to 2022, according to Signifyd.

While modest, this holiday’s ecommerce sales growth builds on a strong season last year and comes after months of talk of inflation and unsettling economic news. Adding to the mixed outlook, the analysis, based on transaction intelligence from Signifyd’s Commerce Network of thousands of merchants, underscores that holiday 2023 will play out differently depending on a merchant’s particular vertical.

“I see that there is going to be some pretty modest growth, but with some real opportunity for retailers depending on their categories and how well they’re able to execute,” Signifyd Chief Customer Officer J. Bennett said. “Retailers who are able to get in front of their customers when they want to be sold to and deliver value in a beautiful experience can look forward to significant success this season.”

Signifyd will provide live data updates throughout the holiday season on its Holiday Season Pulse tracker. The holiday tracker includes data charting overall season sales, sales by vertical, sales by device, use of discounts, fraud trends and dynamically updated season sales projections from today through December.

Signifyd’s analysis projects a strong season for apparel and electronics with year-over-year sales in the fourth quarter up by 9% and 8% respectively. Sporting goods is projected to see a 5% increase compared to last year, while the health and beauty and home goods categories will both fall 5% below their 2022 fourth-quarter sales.

Sales over the Cyber Five — the crucial selling period between Thanksgiving and Cyber Monday — will be even more bumpy. Signifyd’s prediction sees only apparel having a breakout Cyber Five, with sales up 10% over 2022. Electronics will see 1% growth, while sporting goods and home goods will fall 1% below last year’s levels and health and beauty will be down 2%.

Consumers will continue to get an early jump on holiday shopping, with ecommerce sales rising by 7% in October over a year ago, Signifyd predicts. November sales will also increase by 5% before the holiday frenzy cools a bit, with sales increasing by only 3% year-over-year in December.

While the projected sales numbers for the season are less than spectacular, Signifyd Data Analyst Phelim Killough said the figures should be viewed in a bigger context.

“They’re perhaps underwhelming from a year-over-year perspective when compared to the double-digit, year-over-year growth from seasons past,” said Killough, who conducted Signifyd’s analysis. “But we’re building off a higher foundation. We haven’t seen a decline in year-over-year sales since the onset of COVID. We’ve simply seen a slowing in growth.”

The predicted holiday spending would come in the wake of September data that shows U.S. consumers continuing to hold back. Overall ecommerce spending was up 3% from September 2022, according to Signifyd Ecommerce Pulse Data. And similar to August, September buying patterns show evidence that shoppers continued to value needs over wants.

Online grocery sales were up 28% year over year in September, owing in part to high food prices, while sales of luxury items fell 8%, Signifyd data shows. The electronics, and outdoor and leisure categories had strong months, finishing higher than last year by 17% and 8% respectively. Beauty and cosmetics had a modest 3% rise.

Auto parts, apparel and home goods all fell below last year, down 2%, 3% and 6% respectively.

Signifyd’s projections are based on recent transaction and growth trends and seasonality factors. Its pulse data is derived from transactions on Signifyd’s Commerce Network of thousands of brands and merchants. For a tutorial explaining the methods and meanings behind Signifyd’s Holiday Season Pulse Tracker visit Signifyd’s YouTube channel.

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Holiday Ecommerce Sales Growth Won’t Be Enough to Top European Inflation, Study Says https://www.signifyd.com/news-releases/holiday-ecommerce-sales-growth-wont-be-enough-top-european-inflation/ Mon, 16 Oct 2023 12:00:16 +0000 https://www.signifyd.com/?post_type=news_release&p=50801 LONDON–(BUSINESS WIRE)–While inflation is slowing across Europe, the deceleration in price hikes won’t be dramatic enough to turn merchants’ fortunes around, says a new analysis by commerce protection provider Signifyd. While inflation is slowing across Europe, the deceleration in price hikes won’t be dramatic enough to turn merchants’ fortunes around, says a new analysis by…

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LONDON–()–While inflation is slowing across Europe, the deceleration in price hikes won’t be dramatic enough to turn merchants’ fortunes around, says a new analysis by commerce protection provider Signifyd.

While inflation is slowing across Europe, the deceleration in price hikes won’t be dramatic enough to turn merchants’ fortunes around, says a new analysis by commerce protection provider Signifyd.

Signifyd projects that online sales will finish up 3% over last holiday season, with a 2% increase in sales during what’s known as the Cyber Five, the shopping festival centered on Black Friday and anchored by Cyber Monday. The growth predictions for EMEA, based on transaction intelligence from Signifyd’s Commerce Network of thousands of merchants, fall below the current inflation rate.

“In Europe, we’re gonna see very similar trends to everywhere else in Western economies,” said Signifyd Chief Customer Officer J. Bennett. “So, the same trends of high fuel prices. Right? Winter’s coming. People are saving up for that. Groceries are up. Consumers will continue to be cautious spenders throughout the holiday season, looking for the right promotions and the best value for their money.”

Signifyd will provide live data updates on holiday sales throughout the season — including overall sales, sales by device, fraud trends and revised season sales projections — on its Holiday Season Pulse tracker.

Signifyd’s prediction shows the Christmas season getting off to a solid start with October sales coming in 5.5% ahead of a year ago, before cooling off considerably. In fact, sales will remain flat (+0.5%) in November and rebound in December, up 4.6% year-over-year, according to Signifyd’s data analysis.

While the sales numbers for the season overall are less than spectacular, Signifyd Data Analyst Phelim Killough said the figures should be viewed in a bigger context.

“They’re perhaps underwhelming from a year-over-year perspective when compared to the double-digit, year-over-year growth from seasons past,” said Killough, who conducted Signifyd’s analysis. “But we’re building off a higher foundation. We haven’t seen a decline in year-over-year sales since the onset of COVID. We’ve simply seen a slowing in growth.”

Despite the muted projections, European merchants can take some comfort in September’s online performance. Sales in EMEA were up 9% in September over year-ago figures, according to Signifyd’s Ecommerce Pulse data.

Signifyd’s projections are based on recent transaction and growth trends and seasonality factors. Its pulse data is derived from transactions on Signifyd’s Commerce Network of thousands of brands and merchants. For a tutorial explaining the methods and meanings behind Signifyd’s Holiday Season Pulse Tracker visit Signifyd’s YouTube channel.

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A Signifyd abre inscrições para os Mais Influentes no E-commerce https://www.signifyd.com/news-releases/a-signifyd-abre-inscricoes-para-os-mais-influentes-no-e-commerce/ Tue, 26 Sep 2023 16:20:09 +0000 https://www.signifyd.com/?post_type=news_release&p=50800 SAN JOSE, Califórnia–(BUSINESS WIRE)–Foram abertas hoje as inscrições para as nomeações para o prêmio MIIE – “Most Influential in Ecommerce” – da Signifyd. Em sua terceira edição, a premiação anual celebrará 30 líderes excepcionais no varejo online, que apresentaram ideias e ações inovadoras para conduzir suas organizações em meio à alta inflação, condições econômicas incertas…

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SAN JOSE, Califórnia–()–Foram abertas hoje as inscrições para as nomeações para o prêmio MIIE – “Most Influential in Ecommerce” – da Signifyd. Em sua terceira edição, a premiação anual celebrará 30 líderes excepcionais no varejo online, que apresentaram ideias e ações inovadoras para conduzir suas organizações em meio à alta inflação, condições econômicas incertas e um aumento sem precedentes da fraude no comércio eletrônico.

Os prêmios MIIE da Signifyd visam reconhecer os heróis do e-commerce, que com persistência, criatividade, compaixão e inventividade excepcionais, impulsionam suas organizações em um setor sempre desafiador, mesmo em seus melhores momentos.

Os nomeados devem estar em posições de liderança e trabalhar com comércio eletrônico – em uma marca, loja, agência ou empresa de tecnologia – em qualquer lugar do mundo. O período de nomeações ficará aberto até 30 de novembro de 2023. Para nomear um líder no e-commerce, basta acessar a página dos 30 Mais Influentes no E-commerce.

Um júri composto por e-commerces, especialistas do setor e executivos da Signifyd avaliará as nomeações e se concentrará nas demonstrações de inovação e pensamento estratégico dos indicados em relação a liderança, criatividade e excelência operacional.

A economia incerta e a inflação persistente colocaram à prova todos os líderes de varejo do planeta”, disse Raj Ramanand, CEO da Signifyd. “Tempos desafiadores sempre produzem histórias e desempenhos profissionais incríveis, inspiradores e que servem de exemplo. Estamos ansiosos para destacar as histórias dos homenageados deste ano e suas realizações.”

Os vencedores do prêmio serão anunciados no FLOW Summit da Signifyd, em Nova York, em abril de 2024. Conheça os vencedores do ano passado e suas histórias de heroísmo no varejo.

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Nominate Your Choice for Signifyd’s Most Influential in Ecommerce and Celebrate Their Retail Success https://www.signifyd.com/news-releases/nominate-signifyds-most-influential-in-ecommerce-celebrate-success/ Tue, 26 Sep 2023 16:10:08 +0000 https://www.signifyd.com/?post_type=news_release&p=50799 SAN JOSE, Calif.–(BUSINESS WIRE)–Global nominations for Signifyd’s 2024 Most Influential in Ecommerce opened today. The third annual awards will celebrate 30 exceptional retail leaders who have exhibited innovative thinking and actions to steer their organizations through high inflation, uncertain economic conditions and an unprecedented rise in organized retail crime. Global commerce protection leader Signifyd has…

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SAN JOSE, Calif.–()–Global nominations for Signifyd’s 2024 Most Influential in Ecommerce opened today. The third annual awards will celebrate 30 exceptional retail leaders who have exhibited innovative thinking and actions to steer their organizations through high inflation, uncertain economic conditions and an unprecedented rise in organized retail crime.

Global commerce protection leader Signifyd has opened nominations for its 2024 Most Influential in Ecommerce awards which seek to honor the boldest, brightest and most persistent retail leaders in the industry.

Signifyd’s annual award recognizes those ecommerce heroes who have exhibited extraordinary persistence, creativity, compassion and inventiveness while moving their organizations forward in an industry that is immensely challenging, even in the best of times.

Nominees for the Most Influential in Ecommerce must be in a position of leadership and working in ecommerce at a brand, retailer, ecommerce agency or ecommerce-related technology company anywhere in the world. Nominations will be open through Nov. 30. Those wishing to nominate a commerce leader can submit their choices on the 30 Most Influential in Ecommerce nomination page.

A jury of merchants, industry experts and Signifyd executives will evaluate the nominations. The jury will focus on the nominees’ records of innovation and strategic thinking when it comes to leadership, creativity or operational excellence.

“This year’s uncertain economy and persistent inflation have tested every retail leader on the planet,” Signifyd CEO Raj Ramanand said. “These sorts of challenging times invariably produce stories and professional performances that are amazing, inspiring and educational. We’re very much looking forward to highlighting the stories this year’s honorees have written through their remarkable achievements.”

The 2024 award winners will be announced at Signifyd’s FLOW Summit in New York City in April. Read about last year’s winners and their tales of retail heroism.

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Signifyd abre registro para nominaciones para los más influyentes en el comercio electrónico https://www.signifyd.com/news-releases/signifyd-abre-registro-nominaciones-mas-influyentes-comercio-electronico/ Tue, 26 Sep 2023 16:00:07 +0000 https://www.signifyd.com/?post_type=news_release&p=50798 SAN JOSÉ, California–(BUSINESS WIRE)–Hoy se abrieron las nominaciones globales para el premio MIIE – Most Influential in Ecommerce – de Signifyd. En su tercera edición, la premiación anual celebrará a 30 líderes excepcionales en el retail que hayan mostrado ideas y acciones innovadoras para dirigir sus organizaciones en un entorno de inflación elevada, condiciones económicas…

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SAN JOSÉ, California–()–Hoy se abrieron las nominaciones globales para el premio MIIE – Most Influential in Ecommerce – de Signifyd. En su tercera edición, la premiación anual celebrará a 30 líderes excepcionales en el retail que hayan mostrado ideas y acciones innovadoras para dirigir sus organizaciones en un entorno de inflación elevada, condiciones económicas inciertas y un aumento sin precedentes del fraude en el e-commerce.

Los premios MIIE tienen como objetivo reconocer a héroes del comercio electrónico que, con persistencia, creatividad, compasión e inventiva fuera de série, hacen sus organizaciones avanzar en una industria inmensamente desafiante, incluso en los mejores tiempos.

Los nominados a los más influyentes en el comercio electrónico deben ejercer en una posición de liderazgo y trabajar en el comercio electrónico – en una marca, en el retail, en una agencia de comercio electrónico o en una compañía de tecnología relacionada con el comercio electrónico – en cualquier parte del mundo. Las nominaciones estarán abiertas hasta el 30 de noviembre del 2023. Quienes deseen nominar a un líder pueden presentar sus opciones en la página de nominación de Los 30 Más Influyentes en el Comercio Electrónico.

Un jurado formado por comercios, expertos de la industria y ejecutivos de Signifyd evaluarán las nominaciones. El jurado se centrará en las demostraciones de innovación y pensamiento estratégico de los nominados en términos de liderazgo, creatividad o excelencia operativa.

La economía incierta y la inflación persistente de este año han puesto a prueba a todos los líderes de retail del planeta”, dijo Raj Ramanand, CEO de Signifyd. “Tiempos desafiantes invariablemente producen historias y desempeños profesionales que son asombrosos, inspiradores y educativos. Estamos ansiosos por destacar las historias que los homenajeados de este año han escrito a través de sus logros”.

Los ganadores del premio 2024 se anunciarán en el evento FLOW Summit de Signifyd, en la ciudad de Nueva York en abril. Lee más sobre los ganadores del año pasado y sus historias dignas de héroes sin capa.

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Growing Inflation Worries Have More Consumers Tightening Their Spending, a New Survey Shows https://www.signifyd.com/news-releases/growing-inflation-new-survey-shows/ Tue, 08 Aug 2023 16:00:11 +0000 https://www.signifyd.com/?post_type=news_release&p=50053 SAN JOSE, Calif.–(BUSINESS WIRE)–After powering online sales to new heights during the pandemic, consumers are pulling back on spending, saying inflation is taking its toll and that economic uncertainty has them bracing for the worst, according to a new consumer survey conducted by commerce protection leader Signifyd. Signifyd released The State of Commerce 2023 report…

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SAN JOSE, Calif.–()–After powering online sales to new heights during the pandemic, consumers are pulling back on spending, saying inflation is taking its toll and that economic uncertainty has them bracing for the worst, according to a new consumer survey conducted by commerce protection leader Signifyd.

Signifyd released The State of Commerce 2023 report showing that consumers are pulling back on spending, saying inflation is taking its toll and economic uncertainty has them bracing for the worst.

When asked about their spending plans in key retail verticals, consumers by significant margins said they would not be spending more in any of them this year, save for one — grocery, which continues to torment consumers with rising prices.

The responses indicate that consumers are more pessimistic about the economy and their finances than they were a year ago when Signifyd conducted a similar survey.

The insights are part of a detailed report Signifyd released today: “The State of Commerce 2023: How today’s customer loyalty trends are defining the shape of retail’s future.” The report combines consumer survey results with a unique analysis of Signifyd’s ecommerce data to chart the course of online spending from the perspectives of both consumers and brands. Among the report’s findings:

  • Nearly 80% of consumers surveyed said inflation has caused them to cut back on spending this year. Last year the figure was 69%.

  • Two-thirds of consumers said they abandoned their go-to brands to shop with a competitor in the past year, a third of them because of a bad customer experience.

  • While inflation remains stubborn, ecommerce prices are declining, acting as an inflation decelerator for the first time in years.

  • Winter holiday spending online will be up in 2023, but perhaps not as much as retailers had hoped.

By analyzing the frequency and recency of online purchases over time, the Signifyd data team was able to demonstrate the importance — and in some cases the transience — of merchants’ most loyal customers. In the electronics vertical, for instance, only a modest percentage of loyalists, which Signifyd labeled “Soulmates,” stick with a merchant from year to year.

That leaves brands scrambling for the less loyal, which make up cohorts Signifyd called “Hot Dates,” “Ghosters” and “Exes,” again based on the frequency and recency of purchases.

“The State of Commerce report provides online merchants with a detailed look into how consumers with different degrees of loyalty come and go. And it suggests ways retailers can hang on to their most loyal customers while attracting those who are intrigued and reuniting with those who have strayed,” said Signifyd Data Analyst Phelim Killough, who co-authored the report. “Customer loyalty has always been a key to retail success and never more so than in times of economic uncertainty for both businesses and consumers.”

In addition to the exploration of customer loyalty and consumer sentiment, the State of Commerce 2023 report includes predictions based on Signifyd modeling for ecommerce sales for the rest of the year and during the holiday season in particular.

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Signifyd Launches New Product Advisory Board to Build Future of Commerce Protection with Leading Brands https://www.signifyd.com/news-releases/signifyd-launches-new-product-to-build-future-of-commerce-protection/ Tue, 11 Jul 2023 16:00:23 +0000 https://www.signifyd.com/?post_type=news_release&p=50054 SAN JOSE, Calif.–(BUSINESS WIRE)–Signifyd today announced its inaugural Product Advisory Board which brings together top online fraud and risk professionals with deep industry knowledge and experience. The board will help Signifyd continue to lead the industry in commerce protection while innovating to maximize brands’ revenue and improve the customer experience they provide. Signifyd announced its…

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SAN JOSE, Calif.–()–Signifyd today announced its inaugural Product Advisory Board which brings together top online fraud and risk professionals with deep industry knowledge and experience. The board will help Signifyd continue to lead the industry in commerce protection while innovating to maximize brands’ revenue and improve the customer experience they provide.

Signifyd announced its inaugural Product Advisory Board which brings together top online fraud and risk professionals with deep industry knowledge and experience – Samsung, Walmart Mexico, Lowe’s, Lenovo, Abercrombie & Fitch, Mango, Arbonne and eShopworld.

The board includes members from some of the biggest and best-known retailers in the world spanning diverse verticals, geographies and business models. The breadth of expertise represents Signifyd’s broad customer base and ensures that the company will eliminate blind spots as it drives its solutions, strategies and customers’ businesses into the future.

“Signifyd is built on its relationships with its customers,” Signifyd Chief Customer Officer J. Bennett said in announcing the advisory board. “We are constantly developing more and more meaningful ways to work together to solve their challenges, grow their enterprises and make them more valuable in the eyes of their customers. The Product Advisory Board is not just another way to hear from our customers. It is a way to hold a conversation about the best ways to make their businesses more effective, efficient and profitable.”

The new members of the Signifyd Product Advisory Board are:

Signifyd’s Product Advisory Board will connect regularly with Signifyd executives and key product team members to share their insights and observations about the challenges they face and the sorts of solutions that would have the biggest impact on their businesses.

They will have early access to Signifyd’s product roadmap and Signifyd experts in development, design, data science, risk and fraud will solicit their feedback on the direction and design of upcoming solutions.

And they will come together throughout the year to build community, spark creative solutions and join in partnership to help lead the way to the future of commerce protection and conversion optimization.

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Signifyd lanza un nuevo Consejo Asesor de Productos para construir la protección del futuro comercial con marcas líderes https://www.signifyd.com/news-releases/signifyd-lanza-un-nuevo-productos-construir-la-proteccion-futuro-comercial/ Tue, 11 Jul 2023 15:50:10 +0000 https://www.signifyd.com/?post_type=news_release&p=50051 SAN JOSÉ, California–(BUSINESS WIRE)–Signifyd anunció hoy su primer Consejo Asesor de Productos, el cual reúne a profesionales eminentes en el combate al fraude y el riesgo en línea, con un profundo conocimiento y experiencia en la industria que ayudará a Signifyd a seguir liderando la industria de la protección al comercio electrónico, al tiempo que…

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SAN JOSÉ, California–()–Signifyd anunció hoy su primer Consejo Asesor de Productos, el cual reúne a profesionales eminentes en el combate al fraude y el riesgo en línea, con un profundo conocimiento y experiencia en la industria que ayudará a Signifyd a seguir liderando la industria de la protección al comercio electrónico, al tiempo que crea innovaciones para maximizar los ingresos de las marcas y mejorar la experiencia del cliente que ofrecen.

El Consejo incluye a miembros de algunos de los comercios más importantes y conocidos del mundo, abarcando diversos mercados verticales, geografías y modelos de negocio. La amplia experiencia representa la extensa base de clientes que tiene Signifyd y asegura que la compañía eliminará los puntos ciegos a medida que impulsa sus soluciones y estrategias, así como los negocios de sus clientes hacia el futuro.

Signifyd se construye sobre la base de sus relaciones con sus clientes”, dijo el CCO de Signifyd, J. Bennett, al anunciar al Consejo Asesor. “Estamos desarrollando constantemente formas más significativas de trabajar juntos para resolver sus desafíos, hacer crecer sus empresas y darles más valor frente a sus clientes. El Consejo Asesor de Productos no es solo una forma más de escuchar a nuestros clientes, es una forma de mantener la conversación sobre las mejores formas de hacer que sus negocios sean más eficaces, eficientes y rentables”.

Los nuevos miembros del Consejo Asesor de Productos de Signifyd son:

  • Blaise Peters, Gerente sénior de riesgos de Samsung en Estados Unidos

  • Carlos Madrona, Control interno y cumplimiento, Métodos de pago y fraude de Mango

  • Edgar Estrada, Gerente sénior de productos web y comercio electrónico global de Lenovo

  • Jim Collins, Director de fraude y ORC de Lowe’s

  • John Fasline, Gerente sénior de digitalización y automatización de Abercrombie & Fitch

  • Marc Desormeau, Gerente sénior de productos web de Lenovo

  • Neill Mac Carthaigh, Gerente de fraude de eShopWorld

  • Sharon Lopez, Directora sénior de pagos y antifraude en comercio Electrónico de Walmart México

  • Shelby Vignes, Directora de control interno y prevención del fraude de Arbonne

El Consejo Asesor de Productos de Signifyd se reunirá regularmente con los ejecutivos de la compañía y los miembros clave del equipo de productos para compartir sus ideas y observaciones sobre los desafíos que enfrentan y el tipo de soluciones que tendrían mayor impacto en sus negocios.

Además, los integrantes tendrán acceso anticipado a los nuevos lanzamientos y soluciones en desarrollo de Signifyd, mientras que los expertos en desarrollo, diseño, ciencia de datos, riesgo y fraude de Signifyd solicitarán sus comentarios sobre la dirección y el diseño de las próximas soluciones.

Asimismo, se reunirán durante todo el año para construir una comunidad, generar soluciones creativas y trabajar colaborativamente con el fin de ayudar a liderar el camino hacia el futuro de la protección comercial y la optimización de la conversión.

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