GIES Series - Session 5 - Summary Video

Session Overview
Covid-19 has dramatically disrupted the retail sector, causing a remarkable shift towards e-commerce that may linger well after social distancing policies are gone. In the UAE, consumer demand for e-commerce services jumped by 300% in the first five months of 2020, while in Indonesia, the world’s largest Muslim country, e-commerce gross merchandise value is expected to reach $40 billion this year, the third highest globally.
With 75% of millennials and 53% of Gen X shoppers buying goods online during the pandemic that they’d never bought before, this unprecedented spike shows just how much lockdowns have expedited the trend towards e-commerce. According to an Adobe report released in June 2020, the pandemic has massively accelerated e-commerce growth - it would have taken between four and six years to reach May’s e-commerce heights if growth continued at the same levels of the past few years. As consumers continue to use online shopping as their main retail channel, e-commerce businesses need the right knowledge, resources, and tools in order to capture their own portion of the market.
With online shopping at all time high globally, how prepared is e-commerce to protect the consumers from the fraudulent practices of delivering spurious goods as well as the misuse of credit cards?