The Unique Fraud Challenges of Luxury Fashion: An Infographic
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.
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.
Download the Fraud in Fashion Report for more information about fraud patterns and fraud prevention best practices in the fashion industry.
Please attribute this infographic to www.riskified.com.
If you have any questions about the data presented, want to share your story with us, or just want to talk fraud prevention, contact us at [email protected]
