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What Are the Key Cybersecurity Risks E-Commerce Companies Must Address Before the Busy Shopping Season?

Understanding and mitigating vulnerabilities is crucial to protect customer data and ensure smooth operations during peak sales periods.

November 01, 2024

📢 Hey, Retailist Roundup readers! With the weekend coming up, let’s jump into the latest buzz in retail and e-commerce!

News from Retailist

Key Cybersecurity Risks E-Commerce Companies Must Address Ahead of the Busy Shopping Season

As cyber criminals adopt new technologies, e-commerce businesses must be aware of the top threats and their potential impact

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In the news: Top headlines this week

Meta, Microsoft lift AI spending, worrying Wall Street ahead of Amazon results. Major tech companies like Microsoft, Meta, and Alphabet are ramping up spending on AI data centers to meet high demand, though Wall Street is eager for faster returns on these investments. Microsoft and Meta reported rising capital expenses due to AI initiatives, while Alphabet noted similarly high expenditures. Amazon, set to report soon, is also expected to forecast increased AI-related spending. [Reuters]

Etsy beats quarterly estimates for gross merchandise sales, board approves $1 bln share repurchase. Etsy exceeded third-quarter estimates for gross merchandise sales (GMS) and revenue, driven by strong demand from new and repeat buyers for items like handcrafted antiques. This news boosted Etsy's shares by about 11% in after-hours trading. The company also announced a $1 billion share repurchase program following its repurchase of $156 million in stock last quarter. U.S. retail sales saw growth in September, supported by lower gas prices and job growth, which bolstered consumer confidence in discretionary spending. [Reuters]

Adidas reaches settlement with Kanye as Yeezy inventory dwindles. Adidas and Kanye West have reached a settlement, as announced in an earnings call Tuesday. Adidas cut ties with Kanye two years ago over his controversial behavior. Alongside the news, Adidas reported strong Q3 results, with net sales up 7.3% year-over-year to $6.9 billion and a 10% increase in currency-neutral sales, led by 14% growth in the Adidas brand. CEO Bjørn Gulden called this progress a sign that the company is on the right track. [Retail Dive]

Tumbler manufacturer Stanley using AI to predict supply disruptions. Stanley 1913, a food and drinkware manufacturer, is using Kinaxis' AI-powered Maestro platform to predict and prevent supply chain disruptions. The platform provides real-time visibility and scenario planning to tackle supply chain issues swiftly. This approach, leveraging advanced predictive analytics and AI, supports Stanley 1913’s goal of sustainable growth, according to Karthik Sivakumar, the company’s VP of supply chain and operations. [Retail Dive]

McDonald's Quarter Pounder burgers to return to restaurants affected by E. coli outbreak. McDonald's will reintroduce Quarter Pounder burgers to about 3,000 U.S. locations this week, following a recall related to a deadly E. coli outbreak. Approximately 900 of these restaurants will serve the burgers without slivered onions for now, as health authorities continue to investigate the outbreak's source. This change will impact locations in several states, including Colorado, Kansas, Wyoming, and parts of Idaho, Iowa, Missouri, Montana, Nebraska, Nevada, New Mexico, Oklahoma, and Utah. [CNBC]

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