Riskified recently released an interesting Infographic about fraud in the fashion vertical. They have shared insights about fraud patterns in online fashion sales, along with some useful tips on managing fraud for both retail and high-end fashion merchants.
- Vast Majority of Online Fashion Orders are valid
- Both Consumer & Luxury Fashion Merchants should be accepting 9/10 payments
- The fraud rate of luxury fashion merchants is 2 x higher than for consumer fashion merchants
- In online luxury, more items in cart = more frauds
- Take advantage of Chinese buying power
- The consumer fashion items most targeted by Fraudsters are Sneakers & Watches
- Fraud Rates are actually lower on Black Friday & Cyber Monday
- 3 out of 4 declines are false positives
I am the Founder at ILoveFashionRetail, where we design & develop e-commerce websites & mobile apps for fashion retailers. We also help fashion brands grow their online sales & traffic. My essays are featured at Forbes, Moz, Fairchild, FIT and more. Contact me.