article thumbnail

Rethinking Retail Returns

Retail TouchPoints

Welcome to the world of retail returns, an expensive, cumbersome yet essential part of the industry. The number of returns is growing and managing them is critically important to maintaining margins and customer satisfaction. of all purchased goods were returned to retailers. of all purchased goods were returned to retailers.

Returns 311
article thumbnail

Winning the Hidden Battle: How Gaming Companies can Turn Fraud Prevention into Profit

Retail TouchPoints

Unfortunately, fraudsters are increasingly lurking right before the finish line, turning seemingly legit revenue into unrecoverable losses. Each year, approximately 25% of all legitimate transactions are declined, which not only cuts into revenue but frustrates and alienates players. False positives occur due to many reasons.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

New Returns Platforms Promises Customers Instant Refunds

Retail TouchPoints

Reshop , a platform that provides instant refunds (not store credit) to shoppers returning items from participating retailers, has debuted with retailer partners including Steve Madden and Alo Yoga. With Reshop, customers can receive instant refunds — offering them greater flexibility, control and confidence to shop again right away.

Returns 263
article thumbnail

Solid Holiday Sales Point to Increasing Consumer Confidence

Retail TouchPoints

Both Visa and Mastercard measure in-store and online sales for all payment types in their analysis. Malls Win Big Amid Shortened Shopping Season According to Visa, 77% of total payment volume took place in stores this year versus 23% online, with total retail spend in stores growing 4.1% (versus 1.6% and 4.8% , respectively, from Nov.

Consumer 283
article thumbnail

Answering the $100 Billion Question: How Can Retailers Combat Refund Fraud?

Retail TouchPoints

In 2023, fraudulent returns accounted for a staggering 13.7% of all returns , resulting in $101 billion in losses. One common tactic is receipt fraud, where fraudsters will attempt to return stolen items or items purchased at a discounted price, with an altered or fake receipt. Refund fraud is a significant issue for U.S.

Returns 278
article thumbnail

The Login Effect: The Role of Customer Authentication Psychology in Retail Success 

Retail TouchPoints

That said, guest checkout is a band-aid solution for new potential customers who don’t want to create an account and for returning customers who can’t remember their account details. Instead of such half-measures, retailers need a system that accounts for these behavioral challenges and can smooth the customer payment journey.

article thumbnail

How Clarks Transformed into an Omnichannel Powerhouse Without Missing a Step

Retail TouchPoints

Clarks decided to use the opportunity to shift to a MACH (microservices, API-first, cloud-native and headless) platform. You can’t have an ecommerce platform without the order management side, so all of that came into my space, said Neighbour. Despite it ending up that way, the letter A was not a requirement.) And thats not all.