The retail industry is undergoing a transformative period as the “empowered” consumer, driven by technological advances and breakthroughs, impacts how retailers market, communicate and sell. Retailers continue to erode the barrier to purchase via a myriad of new technologies, such as mobile apps, social media transactions and AI that converse with consumers. They leverage AI to analyze buyer behavior and optimize buyer preferences. Even “traditional” retailers have invested in technologies that track both offline and in-store behaviors to further reduce the barrier to sale regardless of location.
First, what is Bitcoin and where did it come from?
Bitcoin (BTC) is a cryptocurrency payment system based off of the blockchain, a core component of the digital currency. The blockchain was introduced by a pseudonymous creator, Satoshi Nakamoto, in 2008 and open sourced for the currency in 2009. The blockchain serves as a public ledger that records all Bitcoin transactions. One of Bitcoin’s main features is the fact that the system is a decentralized peer-to-peer payment network with no central authority, which means that it provides a certain level of anonymity with no central point of failure, though most services and business that use Bitcoin are centralized in one way or another. While there are numerous legitimate uses for Bitcoin like investing, paying friends or shopping, a number of criminals have adopted the currency for selling services and deploying ransom campaigns due to its level of anonymity.
This year’s door buster deal might just be a DDoS attack
The luring presence of large bowls of excess Halloween candy laying around my house can only mean one thing: It’s that time of year when retailers are preparing stores (both physical and virtual) for a crush of holiday shoppers on Black Friday.
As the story goes, the term originates from an incident in the late 19th century in Philadelphia. The retailer Wanamaker’s Department Store decided on a deep discount of calico, the most common fabric used for dressmaking at the time. The throngs of shoppers that showed up for the penny-a-yard fabric sale ended up breaking through the glass windows of the front door, forcing the store to close. The closure no doubt cost Wanamaker’s dozens of dollars.
It may be hard to believe, but ecommerce sites have been around in earnest for a little over 20 years – Amazon and eBay were both founded in 1995 (right as the Netscape and Internet Explorer browsers were debuting), preceded the year before by J.C. Penney. In 1997, Dell became the first company to land $1 million in online sales.
Twenty years later, it’s hard to imagine a world without ecommerce. Virtually anything can be, and is, bought online, to the tune of $1.2 trillion U.S. dollars globally in 2013, and an estimated $1.672 trillion in 2015. It may have started with books and music, but it encompasses pretty much everything at this point.
As the weather turns and the leaves reveal their polychromatic wonder, I enter this time of year knowing that the holiday season is upon us. Holidays means shopping and like any good technologist, I have transitioned to making most of my holiday purchases online.
As an online retailer (e-tailer), the holiday season is critical to the success of the business. Estimates suggest that on average, over 23% of online sales are made during this time. The stability and availability of the online platform these next couple months can make or break the business. So, what do you do if your online store becomes too popular?
Online retailers are leaving millions of dollars – yes, millions – on the table. Why is this?
In the hyper-competitive world of online commerce sites, every second is absolutely critical in ensuring a user experience that will yield the maximum likelihood of conversion, meaning a site visitor follows through and makes a purchase.
In the hyper-accelerated world of technology, the modern consumer is bombarded with near-daily news of technological breakthroughs, OS updates, device refreshes and breakneck broadband speeds. With this all comes a reinforcement of expectations for modern webpages to deliver dynamic, rich content on par with high-definition cable programming, delivered just as fast as a user would change a channel from one HD broadcast to another.
As we do every quarter at Radware, we’re releasing a new “state of the union” report – an in-depth snapshot of web performance of the world’s top ecommerce sites.
There are compelling arguments why companies – particularly online retailers – should care about serving faster pages to their users. Countless studies have found an irrefutable connection between load times and key performance indicators ranging from page views to revenue.
For every 1 second of improvement, Walmart.com experienced up to a 2% conversion increase. Firefox reduced average page load time by 2.2 seconds, which increased downloads by 15.4% — resulting in an estimated 10 million additional downloads per year. And when auto parts retailer AutoAnything.com cut load times in half, it experienced a 13% increase in sales.
Recently at Radware, we released our latest research into the performance and page speed of the world’s top online retailers. This research aims to answer the question: in a world where every second counts, are retailers helping or hurting their users’ experience – and ultimately their own bottom line?
During the past 12 months, we’ve worked to provide more than application delivery and security solutions. Our goal was (and is) to share knowledge with the IT community so you can assess upcoming trends, implement best practices, and gain insights through our research. Thanks to our readers, partners, customers, and team members for another great year of sharing our thought leadership.
Here’s a look at what resonated the most with our readers this past year. Happy Holidays and we wish you a smart, successful, and secure 2015. Cheers!