It's that time again! Here are our thoughts on the eCommerce news we've been reading, in addition to the logistics trends we've been seeing over the past two weeks.
Stay alert: eCommerce fraud expected to rise over Cyber Weekend
Online payment provider ACI Worldwide projects the following increases in retail fraud over the Thanksgiving, Black Friday, and Cyber Monday:
- Thanksgiving Day: the volume of transactions is expected to increase 23%, while retail fraud attempts are projected to represent 1.8% of all transactions
- Black Friday: the volume of transactions is expected to increase 19%, with fraud attempts accounting for 1.3% of them
- Cyber Monday: the volume of transactions is expected to increase 14%, with fraud attempts representing 0.93% of them
Despite strong growth, Shopify stock recently hit due to trade war concerns
We are definitely not in the business of giving investment advice, but we do find it fascinating to follow Shopify's stock. After all, our Rates at Checkout plugin is used by thousands of Shopify merchants, so our ears perk up any time we hear news about our partners!
The stock is up 50% year to date, with investors happy with their story and their ability to pull in strong growth every quarter. However, on Monday the stock suffered losses – according to MarketWatch, "Wall Street may have been concerned that Shopify would be affected by the trade wars as Chinese online vendors have had a benefit with low shipping rates."
Our take: We actually think it's not all doom and gloom for sellers who import their goods from China. If you manufacture from China, import your products to the US and fulfill from the US, check out our solution to escape those tariffs.
Additionally, here are our thoughts on how a US withdrawal from the Universal Postal Union will affect eCommerce.
USPS shipping costs confirmed to rise in 2019
Last week, the Postal Regulatory Commission approved the proposed USPS rate hikes for the next year, effective January 27, 2019.
These rate hikes can also affect express couriers such as UPS and FedEx, as they partner with USPS for last mile deliveries. According to Supply Chain Dive, "UPS and FedEx could be paying $1 more for some packages — or passing that cost along to shippers. "
Our take: If rising shipping costs are a concern for you in the coming year, don't forget that Easyship always offers discounted rates for all our courier offerings! Stay updated on any special deals from our couriers by checking out our monthly product updates on our blog.
Blockchain: a promising remedy for supply chain woes
At a panel discussion at TechCrunch Shenzhen 2018, blockchain was brought up as a possible solution for the inefficiencies of our current supply chain.
According to EximChain CEO Hope Liu, "Blockchain in the supply chain enables trust between individuals in the system without the need for middlemen."
The production and distribution of things are still being controlled manually, despite our world becoming more automated. There's hope that blockchain can help minimize these inefficiencies.
Our take: Our Co-Founder Tommaso Tamburnotti believes blockchain is the future of logistics, hoping it could help reduce the amount of paperwork needed to process cross-border shipments. Read more of his thoughts in his piece on EBN titled "How New Technology Is Changing Global Shipping".
Need a last-minute logistics facility this holiday season?
As if the holidays aren't stressful enough already, sometimes hiccups happen in your supply chain during this time. Imagine if the following occurred:
- You re-stocked your inventory after a successful BFCM sale, but now your usual fulfillment partner cannot handle your additional volume for Christmas delivery
- Your factory had a production delay, causing you to miss your Christmas shipping deadline from China with your freight forwarding company or freight consolidator
If you find yourself in this situation - Easyship can help! Take advantage of our global warehousing network and pre-negotiated shipping rates so you can make those holiday sales happen.
Find requirements and how to get started here. Happy shipping!
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