Fraud
In this episode of Retail Right Now, Total Retail's Joe Keenan and Caitlin Sullivan discuss L.L.Bean's decision to change its famously generous return policy, the implications it may have on the brand, and what it means for its competitors.
As we begin a new year, itโs time to reflect on what changed in the last 12 months. What worked and what didnโt? Is your retail business keeping up with shifting consumer behaviors? My main observation is that social mobile shopping by millennials is by far the most important trend, presenting a fantastic opportunity that weโฆ
Alibaba's Taobao marketplace is one of the 25 popular e-commerce sites listed by the USTR (United States Trade Representative) for counterfeiting and global piracy. It's the second year in a row Taobao has been included. TechCrunch reports the key concern of the report on Taobao is how Alibaba works with IP holders to remove counterfeitโฆ
What percentage of online orders are at risk of fraud? 2.32 percent of U.S. transactions in 2017, and 5.07 percent of international orders. Thatโs the data from the latest Fraud Attack Index from end-to-end fraud protection company Forter, in collaboration with the Merchant Risk Council. In some ways, thatโs good news: itโs less than lastโฆ
News about identity fraud is nothing new; weโve heard about it for years. Despite that, the problem is only getting worse. Identity fraud is affecting more and more consumers, but itโs the merchants that ultimately pay the price. Identity fraud attacks increased sharply in 2016, stealing upwards of $16 billion from 15.4 million Americans. Ofโฆ
The holiday shopping season is always a big gift to fraudsters, meanwhile retailers rarely get what's on their list โ i.e. more revenue, fewer chargebacks and stronger customer relationships. Unfortunately, the holiday season fraud problem is growing year-over-year. There was a huge spike in e-commerce fraud between 2015 and last year โ 33 percent, accordingโฆ
Just as our devices are getting smarter, so are the hackers trying to break into them. Cybercrime will cost the world in excess of $6 trillion annually by 2021, according to a report by Cybersecurity Ventures. While this costly crime affects a multitude of players in retail โ including consumers, credit card processors and merchantsโฆ
Is payment fraud getting you down? If so, it's easy to see why: 73 percent of companies were targets of payment fraud in 2015. Simply put, it's no longer a question of โifโ your business will get targeted, but when and how hard. You can protect your business, prevent chargebacks and avoid the loss ofโฆ
Just as with great power comes great responsibility, with major advances in technology come ever-changing, ever more inventive ways of upending it. Hacking and other cyberattacks are at least as much of a cybersecurity threat to retail as to other industries, in that they touch millions of consumers and the well-being of their identities andโฆ
There are few business problems as difficult to address as fraud. Emotions can run high as any consideration of the matter immediately casts doubt on the trustworthiness of team members and can create an environment of secrecy and suspicion. The first thing to understand is that everyone, including any individual who may be skimming companyโฆ