The global jewelry and watch market is projected to be worth $407.5 billion by the end of 2019. With jewelry and watch retailers increasingly turning to eCommerce to reach new customers, growth will largely be fueled by digital sales. In fact, by 2020, online sales are expected to account for 25% of the global jewelry market.
But as eCommerce becomes more prominent, retailers need to adjust their fraud management processes to protect revenues while maximizing online sales.
Riskified has extensive experience protecting online jewellers and watch retailers from CNP fraud. We analyzed our data and compiled a report on trends and best practices for effectively distinguishing between legitimate orders and fraud in this industry. In this post, I offer a small taste of the insights that appear in the full report.Read More
We are excited to announce the addition of a new resource to our Buyer’s Kit: The CNP Fraud Lexicon. The Lexicon is a collection of the most pertinent concepts and expressions used within the fraud-prevention industry, all clearly explained. Our goal was to demystify many of the technical terms used by fraud analysts to describe fraudster behavior, benchmarking metrics, fraud prevention tools, and more.Read More
Chinese consumers purchased $589.6 billion worth of goods online in 2015, around 70% more than their US counterparts. In 2019, it’s anticipated that this figure will rise to an annual expenditure of $2 trillion – almost 4 times more than what Americans are expected to spend.
Unfortunately, international eCommerce merchants continue to miss out on some serious revenue from this burgeoning customer segment due to a fear of Card-Not-Present (CNP) fraud. As China celebrates the beginning of a new lunar year, I thought I’d take the opportunity to discuss some of the ways online retailers can increase their chances of successfully tapping into the most lucrative eCommerce market in the world.Read More
2016 was another stellar year for eCommerce. US online year-end sales matched forecasts and surpassed $110 billion, a 13% increase over the previous year. In China, Singles’ Day sales totaled $17.8 billion, breaking the record for single-day online revenue.
Global retail eCommerce sales are expected to reach $2.3 trillion in 2017, and by 2020 the market will be worth a whopping $4 trillion! In this post, I cover key trends eCommerce merchants should look out for in 2017, along with relevant fraud management advice.Read More
2016 was a huge year for eCommerce merchants, and forecasts indicate that 2017 won’t be slowing down. With global retail online sales set to reach a whopping $2.3 trillion, the eCommerce community – from online sellers, through to shopping platforms, payment processors, and fraud prevention solution providers – will need to collaborate more than ever to be on top of their game.
Industry events provide an opportunity to connect with peers, learn about changing trends, and stay informed of the latest best practice, and cutting edge technologies. We’ve put together a list of the best eCommerce conferences for industry and fraud professionals to attend this year.Read More
Sneakers are a hot commodity, and an increasing preference for shopping online is fueling overall growth across this vertical. Industry leaders like Nike and Under Armour announced big gains in online sales last year, a big reason why the global athletic footwear market is projected to balloon to $220 billion by 2020. But this rapid growth presents new challenges to sneaker retailers, among them preventing Card Not Present (CNP) fraud.
When it comes to coping with the high rate of CNP fraud in sneakers, there’s no substitute for experience. Riskified provides fraud management services to several sneaker retailers, including Fortune 500 companies, and is familiar with the intricacies of safe and fraudulent online shopping patterns within the industry. We analyzed our data to compile a report for sneaker retailers, providing insights and best practices for detecting fraud while maximizing online revenue. In this post, I share some of the findings that appear in the full report.Read More
2016 is drawing to a close and the holiday shopping season is in full swing. From free shipping to major discounts, businesses are throwing in all sorts of different promotions to gain customer attention. But how well are these methods working? Which are worth the time and cost, and which are just wasted efforts?
At Shippo we recently surveyed both US-based consumers and US merchants to find out what shoppers are expecting, and what other businesses are offering. Here are some of our most important findings.Read More
Riskified is excited to announce the opening of our New York City offices!
Located in midtown Manhattan, our US branch will serve as the base for Riskified’s merchant-facing operations in North America, including technical support, account management, and business development. The new location joins our Tel Aviv headquarters to bolster our rapid global growth and drive business partnerships in the North American market.Read More
Christmas time is widely recognized as one of the biggest online shopping periods of the year. Online sales are expected to exceed $90 billion this holiday season in the US alone. Yet despite the significant resources businesses invest in preparation for these busy weeks, heightened competition and growing consumer expectations make it harder for retailers to successfully attract the attention of savvy customers online.
In fact, many online merchants limit their ability to monetize the holiday opportunity for two main reasons: failing to devise a clear omni-channel strategy and misunderstanding international shoppers. In this post, I touch on the various ways in which retailers can maximize eCommerce revenue this holiday season and throughout the year.Read More
Holidays are traditionally all about family, food, and community. But there’s a new kid on the block, a modern holiday centered not around family, but around bachelorhood. Single’s Day is held annually on November 11, or 11/11 – glorifying the digit 1. Branded a major cyber holiday by China’s eCommerce giant Alibaba in 2009, it has since smashed global online shopping records, with sales reaching $14.3 billion last year. The opportunity is immense; in the US, merchants are already aiming to brand Single’s Day as the “Black Friday” of luxury goods.
But what do the shopping patterns of single shoppers mean for eCommerce merchants? Ahead of Single’s Day, we analyzed our data on single-item shopping carts across online verticals, and sought the correlation between single-item orders and eCommerce fraud.Read More