No matter what your return rate percentage is, studies show that about 10.3 percent of retail returns are fraudulent or abusive, adding to your costs and reducing your net sales. For a $1 billion retailer, that could mean up to a $10.3 million exposure.
Engage Return Authorization (formerly Verify) is a real-time, behavior-based return authorization system which uses predictive algorithms and statistical models to distinguish and deter fraudulent and abusive return behavior in-store, online, or in the call center. Its models can also be used to improve click-and-collect (or BOPIS) processes while enhancing the consumer experience with fast service.
It is the most widely used return optimization tool in the industry, prompting the Wall Street Journal to state that Return Authorization “can now be found in every mall in America.”
In milliseconds Return Authorization detects consumer behaviors that indicate retail return fraud, BORIS fraud, or retail return abuse. Only consumers with extreme outlier behavior are denied.
Engage denies returns only to the worst offenders (about 1 percent are fraudulent/abusive). The rest can make returns quickly and without restriction.
Retailers using Return Authorization typically see a 13 percent reduction in shrink. The results are so profound, the solution pays for itself in a few weeks and saves millions per year.
Consumers prefer retailers who offer generous, dynamic return policies, and you can fulfill their wishes when Engage streamlines your processes and manages your risk.
Engage accepts/denies returns based on the consumer’s transaction behaviors. A consumer will receive the same result regardless of which store or site is visited or who is working at the returns desk.
Engage identifies specific employee and/or consumer situations as the transaction ends, and alerts your personnel while the individual is still in the store. (Optional module)
Reducing return fraud and retail return abuse presents a unique opportunity to increase profitability without adding stores or finding new customers. Use our Engage calculator to start building your business case.
Machine learning analyzes thousands of data points to fight item not received and did not arrive claims. Real-time recommendations pushed to your customer service software.
Stop ignoring the last step of your customer journey and provide intelligent, optimized incentives during the return process. Recapture revenue and drive return behaviors.
WHAT PEOPLE ARE SAYING
“One of the best ROI projects I worked on!!”
PAUL JONES, LPC
Former SVP, Limited Brands