Microsoft: Half of retailers lack breach response plan
Seattle – Slightly more than half (51%) of retailers do not have a plan for responding to security breaches. According to a new study conducted by Microsoft, “Security Trends for Retail Services,” almost three-quarters (72%) of retailers do not have budgeted disaster recovery plans.
Other figures from the study also indicate many retailers have not taken recommended precautions to help improve security. For example, 35% still use paper-based inventory of asset-management solutions; 32% are not effective at asset management control; and 31% do not use roles for access. Only 29% increase capacity after there is a capacity shortage.
Desktop-based e-commerce spending up 12%
Reston, Va. — A report by comScore showed that, in the first quarter, desktop-based e-commerce rose 12% year-over-year to $56.1 billion, marking the 18th consecutive quarter of positive year-over-year growth and 14th consecutive quarter of double-digit growth.
M-commerce spending on smartphones and tablets added $7.3 billion for the quarter, up 23%, for a digital commerce spending total of $63.4 billion in the first quarter.
"Q1 e-commerce and m-commerce spending growth have seen a modest acceleration versus the fourth quarter, which is a positive sign in light of overall softness in consumer discretionary spending across the broader U.S. economy during the early part of the year," said comScore chairman emeritus Gian Fulgoni. "As we look ahead to the remainder of 2014, we hope that signs of improved consumer sentiment and a strengthening job market will help further bolster digital commerce.”
Other highlights from comScore’s first-quarter report include:
• The top-performing online product categories were: Apparel & Accessories, Consumer Packaged Goods, Sport & Fitness, Digital Content & Subscriptions, and Home & Garden. Each category grew at least 13% vs. year ago.
• Desktop E-commerce accounted for 11.7% of consumers’ discretionary spending, the highest first quarter share on record.
• Of the additional $7.3 billion in mobile commerce, purchasing using smartphones accounted for 62% vs. 38% from tablets.
Abercrombie CEO pay drops 72% on falling profits
New Albany, Ohio — Abercrombie & Fitch Co. CEO Michael Jeffries saw his pay shrink 72% in 2013, according to a filing by the company on Tuesday.
The teen retailer has recorded declining sales and profits, and Jeffries has come under fire. His total compensation last year was $2.24 million, down from $8.16 million in the previous year and $48.1 million in Abercrombie’s fiscal 2011. He was paid more than $20 million a year in the three years before that, according to the report.
Earlier in 2014, Abercrombie stripped Jeffries of his chairman role, created a new COO job and named four new independent directors to its board as part of a deal with investor Engaged Capital.