eCommerce Fraud Protection for Luxury Goods Retailers
The steep resale value of fine jewelry, designer handbags, high-end watches, and hand-made leather accessories makes them extremely attractive to fraudsters.
Sophisticated credit card fraud targeting online luxury goods is common and painful, resulting in costly chargebacks and lost merchandise. The high ticket value of every item makes the fraud review process particularly critical in the luxury goods industry.
The stakes are high: affluent consumers, who constitute the majority of luxury goods shoppers, experience more false declines and tend to respond adversely - 58% of them limit or completely stop their patronage of the declining retailer.
When using high friction CNP fraud prevention measures, luxury goods retailers risk negatively impacting their brand and spoiling the online shopping experience. To effectively prevent CNP fraud without rejecting good customers, luxury goods retailers must discern valid orders from online shopping fraud without hindering the shopping journey.
Riskified’s Fraud Solution for Luxury Goods Retailers
- Riskified provides eCommerce fraud protection to global retailers selling a wide range of luxury goods. Using proprietary fraud detection techniques, we accurately distinguish between legitimate and fraudulent orders across markets, payment methods, and digital channels.
- Our fraud management system allows retailers to safely expand their online business to tap into new markets and grow their global customer base.
- Riskified’s eCommerce machine learning models help protect luxury retailers’ brand reputation by reducing false positive declines. The fraud review process occurs in real-time, behind the scenes, making it invisible to consumers and ensuring they have a great shopping experience.
- Retailers partnering with Riskified enjoy full chargeback protection, as every approval is covered by a 100% guarantee against fraud. With Riskified’s scalable eCommerce fraud prevention solution, retailers receive clear, instant decisions all year round, including during product launches and peak sales seasons.
Learn how Riskified’s eCommerce fraud prevention solution ensures luxury goods retailers eliminate the cost of fraudulent chargebacks.