Providing an exceptional customer experience is important for eCommerce merchants. In fact, research firm Gartner estimates that in 2016, “89% of companies expect to compete mostly on the basis of customer experience“. To gain more insight into this topic, Riskified sat down with eCommerce expert Heather Nigro to discuss how retailers can optimize the digital shopping experience.
Heather told us about common mistakes brands make when it comes to the online shopping experience. We also discussed the KPIs retailers should track to improve customer experience, best practices for personalizing the online shopping journey, and how retailers can strike a balance between customization and intrusiveness.Read More
Riskified builds cutting edge technology and employs the world’s best fraud team so eCommerce merchants will be able to stay focused on growing their business. However, while we assume liability for every order we review and approve, it’s very important for us to provide merchants with full visibility into our performance. Today, Riskified is happy to announce an update to the data export feature that will greatly increase the transparency of the fraud review process for merchants.
Riskified customers can now export order level data for any given timeframe directly from the in-app dashboard. The exported CSV file will include key data points for every order, such as when the order was submitted for review, the review turnaround time, the reason an order was declined, and more. Our goal is to provide every merchants will all of the information necessary to analyze and assess Riskified’s fraud review performance.Read More
July is a big month in North America. Canadians usher in the month with Canada Day festivities, and as their celebrations settle down, Americans light up the barbecues and start celebrating the 4th of July. For many of us, telling Canadians and Americans apart is no easy task (unless they happen to utter a keyword like “about”).
Canadians are often perceived as more polite, and Americans as more animated, or extroverted. But when it comes to online shopping, there are more noticeable differences. To honor these two great nations on their holidays, Riskified provides insights into some lesser known differences between the US and Canada.Read More
With over 1.2 billion international tourist arrivals registered worldwide in 2015, the online travel industry is experiencing an explosion in demand. Online travel merchants can take advantage of the growing number of travelers who use digital channels to book their flights. Digital travel sales in the United States alone were valued at over $200 billion in 2015, and globally, it is projected that online travel revenues will reach $762 billion by 2019.
Riskified’s work with leading travel merchants, as well as Fortune 500 companies across verticals, has given us great insight into helping merchants overcome the CNP fraud challenges they face. We are currently in the process of compiling a report sharing data about fraud patterns in online travel, and best practices for travel merchants looking to safely increase approval rates. Following is a sneak peek at the report, which will be published in the coming weeks.Read More
As the global eCommerce market grows and fraudster methodology evolves, new fraud management approaches and tools are being introduced at a fast pace. Trying to stay on top of developments in the eCommerce fraud prevention landscape can be overwhelming and time consuming.
Riskified is proud to present the eCommerce Fraud Solution Buyer’s Kit, a comprehensive series of resources designed to guide executives, decision makers, and procurement professionals through the process of assessing current fraud management performance and understanding which available approaches and solutions can best meet their needs.Read More
The global eCommerce market is booming with shoppers of every age and background buying online. In brick-and-mortar stores, recognizing and addressing customers’ needs is relatively straight forward, but for eCommerce merchants, learning to gauge the shopping experience can be challenging. It is not always easy to understand what brings customers back to a site or shopping app and what may be turning them away.
Riskified joined forces with user-generated content platform Yotpo to create the following infographic, which provides eCommerce businesses with stats demonstrating the importance of the online shopping experience and offers advice for enhancing the eCommerce customer experience.Read More
For retailers, omni-channel sales is the new business imperative. Brands are now required to be anywhere and everywhere just to keep up with the competition and the line between digital and physical shopping is becoming increasingly blurred. From leading global luxury retailers such as Burberry and FarFetch, to large American retail chains such as Macy’s and Kohl’s – everyone is turning to new business flows to meet the demands of consumers.
One of the most popular omni-channel flow is allowing shoppers to buy online and pick up items in the store, commonly known as Buy Online, Pick Up In-Store (BOPIS) or Click and Collect. This flow holds a lot of potential for brick & mortar retailers. For starters, it’s in high demand. A recent study showed that nearly half of US consumers (44%) want the option to collect their purchase at a physical store immediately after purchasing online. But this shopping flow is also advantageous for retailers; it gets customers into physical store locations where they are likely to make additional purchases.
However, making customers happy requires not only offering the shopping flows they expect, but also great execution, and there are a couple of major challenges retailers need to overcome in order to successfully pull off in-store pickup. The first challenge is risk – this shopping flow exposes retailers to a myriad of fraud-related vulnerabilities. The second challenge is operational – retailers need to make sure the merchandise is ready to be picked up when the customer arrives in the store.
In this post, we will discuss the fraud-related challenges associated with in-store pickup, and explain how retailers can overcome them.Read More
Ecommerce merchants spend significant time and money trying to optimize sales and the omnichannel shopping experience, only to harm revenue with conversion mistakes. This is especially the case in larger companies, as multiple stakeholders in separate departments often measure success differently. While Riskified usually focuses on fraud-related challenges and best practices, we are always happy to share expert advice about fixing the mistakes that lead ecommerce merchants to lose revenue.
Last week, Riskified sponsored a webinar with Practical eCommerce about mistakes ecommerce merchant make that add up to lost revenue. The webinar was led by ecommerce expert and online business consultant Pamela Hazelton. Rather than provide tips for new tools or processes to add to your ecommerce site, the webinar focused on things merchants are already doing today – and discussed how to optimize them to ensure ecommerce revenue is not negatively impacted. In the following post we recap some of the actionable tips Hazelton provided.Read More
Luxury fashion items are coveted by many, including fraudsters. Retailers selling luxury fashion items online must juggle between two goals that don’t always coincide: the desire to provide a smooth shopping experience and the need to keep a watchful eye on purchases to avoid fraud. The decision to approve or decline an online purchase due to suspected fraud is often difficult, and mistakes can be costly.
Riskified recently published an extensive report on fraud in online fashion and apparel sales, providing insight into fraud patterns unique to the industry. As a follow up, we delved deeper into our data to pinpoint trends that are specific to luxury fashion and to address the unique fraud-related challenges luxury retailers face. The following infographic paints a clear picture of fraud patterns in online luxury fashion sales. The data may surprise readers and we hope it provides insight that can help generate sales and growth, as well as enhance customer experience.Read More
As consumers increasingly go online to make their purchases, luxury fashion retailers are poised to realize huge gains in eCommerce revenue. It’s estimated that the market for online luxury goods will be worth more than 20 billion euros by 2018. Moreover, the move towards digital purchases will only accelerate this trend. Last year, US consumers were expected to spend half of their budgets for luxury fashion and accessories online.
Riskified works with many luxury fashion businesses – including FarFetch, Vestiaire Collective, and Ssense. Our experience with these retailers has given us great insight into what card-not-present (CNP) fraud patterns look like within this industry. In this post, I share these insights and discuss what measures retailers can take to protect themselves without negatively impacting sales.Read More