Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

How Retailers Can Adapt to "New Normal" & Changes in Consumer Habits

Across the nation, states are beginning--or approaching--the reopening of stores and restaurants in the wake of the COVID-19 crisis. FinTech executive Monica Eaton-Cardone urges retailers to approach the "new normal" with a mix of clarity, creativity, and caution.


News provided by

Monica Eaton-Cardone

May 26, 2020, 08:00 ET

Share this article

Share toX

Share this article

Share toX


TAMPA BAY, Fla., May 26, 2020 /PRNewswire-PRWeb/ -- As of the third week of May, 37 states were in the process of reopening stores, restaurants, and other public venues that had since been ordered closed to limit the spread of the novel coronavirus. Another 10 states were set to reopen on a regional basis, one had announced plans to reopen soon, and two—Illinois and Michigan—were still shut down.(1) "It's important to remember," says Monica Eaton-Cardone, an entrepreneur and IT executive specializing in risk management and fraud prevention, "that these reopened businesses face a retail environment much altered from the one that existed in mid-March, when the lockdown began."

Since the beginning of May, for example, four major U.S. retailers—JC Penney, J. Crew, Neiman Marcus, and Stage Store—have filed for bankruptcy.(2) While these firms' financial difficulties predated the coronavirus crisis, notes Eaton-Cardone, they were certainly exacerbated by weeks of lost instore sales, as was the entire retail sector. According to the U.S. Census Bureau, the country's retail sales during April 2020 were down 16.4% seasonally adjusted from March, and 21.6% unadjusted year over year.(3)

There’s a lot of uncertainty, a lot of risk, and—particularly in eCommerce—a lot of opportunity. Just remember to be clear, be creative, and be careful," Eaton-Cardone says

Post this

Meanwhile, consumers in recently reopened states seem to be in no hurry to return to their pre-crisis levels of buying activity. In New Hampshire—where the governor has imposed tight safety restrictions—malls were mostly empty and main streets far from bustling as the lockdown lifted. Shopkeepers acknowledge that shopping will not be the same experience it once was.(4) Part of the difference lies in the fact that shopping habits themselves have changed significantly. Online grocery sales, for example, are expected to grow 40% in 2020, driven by new activity patterns from homebound consumers.(5)

In other words, notes Eaton-Cardone, the lockdown has created opportunities as well as difficulties. One food-by-subscription service has seen demand so far exceed supply that prospective new subscribers are placed on a waiting list.(6) In some cities, restaurants have pivoted not to takeout, but to foodstuffs and supplies sales, becoming in effect contactless grocery stores open one day a week to fulfill online orders.(7)

In her own area of expertise, fraud prevention, and security, Eaton-Cardone has seen consumer behavior changes as well. "New risks are coming into existence," Eaton-Cardone says. For instance, she notes that credit-card chargebacks based on service complaints, typically made by consumers new to ecommerce and impatient with coronavirus-crisis-related delivery delays, have come to outnumber fraudulent chargebacks, which normally account for some 80% of all chargeback volume.

To navigate this new and rapidly changing landscape, Eaton-Cardone urges retailers to focus on:

  • Clarity: Understand what is being offered by the company, what the rules are, and communicate that clearly to customers
  • Creativity: Some of today's most successful merchants are doing things that wouldn't have occurred to them to do before
  • Caution: This is a tight-margin business, now more than ever—be sure to minimize unnecessary risk

"It's a different world from the one we lived in just a few months ago," Eaton-Cardone says. "There's a lot of uncertainty, a lot of risk, and—particularly in eCommerce—a lot of opportunity. Just remember to be clear, be creative, and be careful."

About Monica Eaton-Cardone:
As an acclaimed entrepreneur, speaker, and author, Monica Eaton-Cardone is widely recognized as a thought leader in the FinTech industry and a champion of women in technology. She established her entrepreneurial credentials upon selling her first business at the age of 19. When a subsequent eCommerce venture was plagued by revenue-leeching chargebacks and fraud, Eaton-Cardone rose to the challenge by developing a robust solution that combined human insight and Agile technology. Today, her innovations are used by thousands of companies worldwide, cementing her reputation as one of the payment industry's foremost experts in risk management, chargeback mitigation, and fraud prevention. Monica Eaton-Cardone is honored to be the recipient of various industry awards. Her own expertise, as well as the services provided by her companies, have been recognized as outstanding by her peers and other industry leaders. For more information, visit http://www.monicaec.com.

1. Mervosh, Sarah, et al. "See Which States Are Reopening and Which Are Still Shut Down." The New York Times, 25 Apr. 2020, nytimes.com/interactive/2020/us/states-reopen-map-coronavirus.html.
2. Isidore, Chris. "JCPenney Will Close Nearly 30% of Its Stores as Part of Its Bankruptcy Plan." CNN, 18 May 2020, cnn.com/2020/05/18/business/jcpenney-store-closings/index.html.
3. Kramer, Matthew. "NRF: Retail Sales Drop During April." HomeWorld Business, 15 May 2020, homeworldbusiness.com/nrf-retail-sales-drop-during-april/.
4. Martin, Naomi, and Gal Tziperman Lotan. "New Hampshire Takes the next Step in Reopening Businesses, but This New Normal Is a Work in Progress, Boston Globe, 15 May 2020, bostonglobe.com/2020/05/15/metro/nh-is-open-business-its-far-normal/.
5. Redman, Russell. "Online Grocery Sales to Grow 40% in 2020." Supermarket News, 18 May 2020, supermarketnews.com/online-retail/online-grocery-sales-grow-40-2020.
6. ButcherBox, butcherbox.com
7. Goldfield, Hannah. "The Restaurants Transforming Into Grocery Stores." The New Yorker, 11 May 2020, newyorker.com/magazine/2020/05/18/the-restaurants-transforming-into-grocery-stores.

SOURCE Monica Eaton-Cardone

Related Links

http://www.monicaec.com

Modal title

Monica Eaton-Cardone, entrepreneur and IT executive
Monica Eaton-Cardone, entrepreneur and IT executive
Monica Eaton-Cardone, entrepreneur and IT executive

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.