News

E-commerce, payment fraud high priorities for customer-facing firms

BY Dan Berthiaume

New York — E-commerce and payments fraud remains high on the agenda for consumer-facing organizations, according to a recent Deloitte online poll. Nearly half (47%) of executives and managers reported that fraud protection ranks as a "high priority" for their organization, and a further 8% cited this as their organization’s number one priority.

Despite fraud prevention ranking as a high priority, only 9% of respondents stated that their organization currently provides customers with free fraud prevention solutions. Similarly, budget increases for fraud solutions have been minimal during the past 12 months, with only 9% stating that their fraud protection and detection budget increased substantially. An additional 22% reported fraud budgets had increased marginally, while a similar number (21%) stated that budgets remained unchanged.

Only 9% of respondents cited mobile fraud as a top concern for their business, even with mobile e-commerce solutions on the rise. Thirty five percent of respondents identified online as the greatest area of fraud concern, followed by e-mail (21% and non-digital fraud (13%).

"Along with the positive impact of digital commerce comes the risk of fraud to businesses and customers," explained David Williams, chief executive officer, Deloitte Financial Advisory Services LLP. "With monthly phishing attacks increasing 40% last year, education and fraud solutions for the end-customer are often a powerful way for organizations to police and control fraud."

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REAL ESTATE

Stein Mart plans six store openings

BY Dan Berthiaume

Jacksonville, Fla. — Stein Mart is expanding its presence this fall with four new stores and two relocated stores. The new stores are located in El Paso, Texas; Buford (Atlanta), Ga.; Elk Grove (Sacramento), Calif.; and Watchung, N.J.

Meanwhile, planned stores in Anaheim, Calif. and Colorado Springs, Co. are a relocation of another area store to improve sites. The four new and two relocated stores bring Stein Mart’s total store count to 264 at the end of this year.

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OPERATIONS

DSW opens new store Oct. 17

BY Dan Berthiaume

Columbus, Ohio — DSW Inc. is opening of a new store in Greenville, S.C. on October 17. As of May 18, 2013, DSW operates 377 stores in 42 states, the District of Columbia and Puerto Rico, as well as 348 leased departments for other retailers in the U.S. under the Affiliated Business Group.

Customers at the new store can participate in DSW Rewards, a free loyalty program in which they can earn certificates toward future DSW purchases and receive special member-only offers. Customers can also participate in a Shoe Lover community on Facebook to receive exclusive offers and giveaways.

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