Refunds and exchanges can really open your store up to fraud and theft. That’s why it’s increasingly more and more important for retailers, especially online retailers, to have policies and controls in place to minimize their exposure to these losses. With brick and mortar stores, refund fraud is climbing higher and higher every day. Stores are fighting back with more sophisticated analytics and some of the bigger retailers even fight back by suspending store gift cards that are suspected of fraud, or meet certain criteria that could be fraud. These fraudsters, just as the LP industry, have to constantly change and adapt to new climates in order for them to perpetuate their schemes. They are more and more frequently moving into the e-com platform to conduct their fraudulent acts, and if your company doesn’t have some simple controls, they can bilk you for thousands.
It’s a fact that more consumers are seeking online shopping as an alternative to the traditional retail settings. In fact, your bigger box retailers have all but embraced this fact, making it easier for the customer by providing a countless array of options to order online, in store in addition to returning merchandise at a local store. The possibilities are seemingly endless. So is the opportunity for fraud. You should have a strong return policy and it should include something as simple as the Alpha Shark Tag.
No one likes to purchase something through an online retailer, only to find that it doesn’t fit, or it wasn’t what you expected. I’ve been there and chances are you have too. You also don’t want to fight with a store to take back their product. They didn’t fight to take your money in the first place, right? Enter the Alpha Shark Tag. These small, bright red, tools make it easy for you to stop theft and refund fraud.
The tag is a visible deterrent and can be placed in an obvious location. This allows the customer to try on the product, but would not allow them to wear it out for any occasion (think a prom dress, or expensive outwear). With a clear return policy that states once the Alpha Shark Tag is removed (which can be done at home with some scissors), the item cannot be returned. You’ve now eliminated the chance for someone to essentially rent your products. This technique can be used on a whole host of merchandise, and not just apparel. So do yourself and your business a favor; get on board with this simple device and leave the thieves out to dry!
For more information, contact us: Shark Tags, or call 1.866.914.2567