Monica Eaton Speaks on the Future of Retail
Monica, a leading global expert in all things eCommerce, recently spoke with Fotis Georgiadis of Authority Magazine to discuss her background and the future of retail in general.
Authority Magazine is a digital publication, is devoted to sharing thought leadership and interviews with well-respected authorities in business, film, sports, and technology. They use these interviews to draw out stories that are both empowering and actionable for their thousands of readers.
As part of the interview, Georgiadis asked Monica to touch on her predictions for some of the key trends that will impact the retail market in the next five years. Consumer preferences are changing rapidly, and keeping tabs on new developments is vital if merchants hope to remain competitive. According to Monica, eCommerce sellers stand to benefit, if they’re well-positioned to take advantage of the trends.
“eCommerce is going to see a significant bump in sales. Already, eCommerce sales are up significantly since March. With millions of people stuck at home for months and unable to visit brick-and-mortar stores, those who hadn’t yet embraced online shopping are doing so now.”
This is good news for digital sellers. Of course, more traffic is a double-edged sword, as it also brings heightened threats.
“Unfortunately, card-not-present transactions are always at a higher risk for chargebacks. Thus, expanding the use of card-not-present options like online ordering will result in more chargeback filings. This could be especially troubling for traditionally brick-and-mortar brands, who have limited experience with chargebacks.”
