Online Fraud: Luxury Fashion vs. Basic Fashionfwsecure
Selling luxury fashion online can mean higher profit margins, but it can also mean a higher likelihood of online fraud – nearly double that of basic apparel. Merchants strive to avoid accepting fraudulent transactions, however in the process, they could also be rejecting legitimate sales as a result of putting tight/rigid/confining security measures in place. With FraudWatch, we maximize sales by standing behind all approved transactions.
How and Why Luxury Fashion?
Fashion items most targeted by fraudsters are sneakers, watches and jeans, since they usually sell for a significant sum. Even one item could be enough for the fraudster to get away with, and still be partially satisfied.
Red flags of fraudulent activity can include variations of the same luxury item in one cart, “rush” or overnight shipping options and international shipping.
As a merchant, you can take certain steps to protect yourself.
Knowing Your High Risk Items
Once you have a list of high-risk items or brands you sell, it will be easier to know which orders to review more carefully.
Monitor Shopping Cart and Browsing Activity
Does the item combination in the cart make sense? For example; a cart with one particular type of item in many colors and sizes can seem suspicious, or purchasing many designer handbags at once.
Also, a fraudster may have browsing history that may seem odd; sorting from high to low price, adding the most expensive item to his cart and immediately checking out.
The Solution? Protect Yourself With FraudWatch
While declining flagged orders to avoid fraud might seem like a great idea, you may be turning away potential customers in the process. However with FraudWatch’s revolutionary technology, you’ll have more orders approved in less time and be 100% covered if an approved order results in fraud. We have the highest approval rates for both domestic and international orders and we will give you the peace of mind and knowledge that you are being protected 24/7/365.
As the online fashion industry grows, so should your sales.
Let us do the dirty work of weeding out fraud.