The digital payments market refers to the ecosystem where transactions are conducted electronically, eliminating the need for physical currency or cards. It includes various forms of electronic payments, including mobile wallets, account-to-account (A2A) or peer-to-peer (P2P) transfers, contactless payments, Buy Now, Pay Later options, and cryptocurrency. This market has experienced exponential growth in recent years,…
Ecommerce
How to Sell Online in 10 Steps
Selling online includes deciding what products to sell, a channel to sell products, and a process for storing goods and shipping orders. This guide explains how to sell online step by step and provides you with ways to promote and improve your chosen sales channel efficiently. Step 1: Conduct Market Research Selling online begins…
What Is Return Fraud? A Small Business Guide
Return fraud, also called refund fraud or refund theft, is the deceptive practice of returning merchandise or abusing a return/refund process for monetary gain. In 2023, retail return fraud cost up to $101 billion in total losses, and every $100 of returned merchandise resulted in a loss of around $13.70 for retailers. Businesses need to…
8 Direct-to-Consumer (DTC) Ecommerce Trends
Direct-to-consumer (DTC or D2C) ecommerce involves businesses producing and selling products directly to their end consumers. DTC exploded on the scene with brands like Everlane, Dollar Shave Club, and Allbirds shaking up the traditional retail model—and while these are large brands, selling DTC is shaping up to be a trend small businesses can’t afford to…
What Is Supplier Relationship Management? Why & How to Do It
Supplier relationship management (SRM) is the set of practices and approaches that a business uses to create and maintain a friendly, productive relationship with its suppliers. The purpose of building a good relationship with suppliers is to increase the efficiency and reliability of your inventory flow, purchasing operations, and product sourcing—reducing overall costs and wasted…
What Is a High-risk Merchant?
A merchant is considered “high-risk” when it runs a business that is highly susceptible to fraud and chargebacks. This can be due to the industry they belong to, the products or services they provide, or a history of high chargeback claims. When this happens, merchants go through a more rigorous process before being approved for…
What Is Dropshipping & How It Works in 2024
Dropshipping is a popular ecommerce model that requires minimal upfront investment. Learn how it works and whether it is still viable in 2024.
The Significance of Dropshipping Dropshipping is a business model in which orders placed on a retailer’s site are actually fulfilled by a third-party manufacturer or wholesaler. In dropshipping, the retailer doesn’t keep the products on hand. When the retailer receives an order, they send it to the third-party company who will then fulfill the…
Shopify POS Review: Best for Omnichannel Retail
Our Shopify POS review found that the system is best for retailers selling across multiple channels, especially if you either have or have plans to use Shopify’s ecommerce platform. Previously, Shopify POS was only available through an ecommerce subscription. However, it is now available as a standalone product. This change makes it a good fit…