Monica Eaton Shares Her Summer 2022 Retail Predictions
Chargebacks911 COO and Co-Founder Monica Eaton shared her retail predictions for summer 2022, given the current state of inflation and cost of living concerns, in a recent market trend article for IMRG.
Founded in 1990, Interactive Media Group is a trade association focused on helping online retailers and brands to better understand and improve their overall performance. In recent years, IMRG has grown to become the UK’s largest eCommerce membership community. Composed of retailers, brands, and technology partners, they encourage cooperation between brands and technology partners to forge sustainable relationships.
The article delves into a lackluster spring, in which market figures failed to match post-pandemic optimism, noting in particular that the only verticals in full recovery are retail clothing and home improvement. Others that have not seen such a bounce-back in 2022 are namely health and beauty (down 32%) and gardening (down 23%). So, what do these figures mean for the mid-year market?
“This summer will be interesting for eCommerce as the industry looks to shake off the challenges of the last two years and define what the future of the consumer shopping experience will look like,” Monica explains. “This will be supported by innovative technology, combined with evolving consumer shopping habits that will drive brands’ decision-making.”
Monica also expressed ongoing concerns about fraud. In particular, muling attacks are seeing a rapid increase.
“However, there is a growing concern about what security experts call ‘muling’ – intentionally (or unintentionally) sharing identifying information, in order to facilitate eCommerce fraud. The losses can be catastrophic for businesses and solving this problem will involve thinking outside of the box when it comes to security, going beyond usernames and passwords, and using third-party tools that can identify when information is being shared.”