Stopping a BOGO return scam before it starts. : r/TalesFromRetail

Stopping a BOGO return scam before it starts. Short I've mentioned before that I worked at a popular chain of Toy Store. We often had sales of either Buy-One-Get-One half of, OR the …

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Retail Return Fraud And How To Stop It: The Ultimate Guide

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Jul 24, 2024 · According to the National Retail Federation (NRF), retailers incur $166 million in merchandise returns for every $1 billion in sales and lose approximately $10.40 to return fraud …

agilenceinc.com

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When BOGO Is A No-go - Federal Trade Commission

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Mar 6, 2015 · Settlements totaling $8 million offer guidance on how to make sure your BOGO doesn't turn into a no-go. According to the FTC’s complaint, Allstar deceived consumers about …

ftc.gov

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Why Refund Scams And Return Fraud Are A $25 Billion Problem ...

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The amount of fraudulent returns in the U.S. in 2020. Fraudulent returns like these cost U.S. retailers $25.3 billion a year, according to a January 2021 report by the National Retail …

mastercard.com

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Have A Return? Retail Fraudsters Are Making That More Difficult

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Jan 31, 2024 · Two words: Return Fraud. Retailers are projecting that, in the aftermath of the 2023 holiday season, fraudulent returns will account for $24.5 billion of the $148 billion total …

kiplinger.com

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9 Types Of Return Fraud & How To Mitigate Risk - NoFraud

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Jan 3, 2024 · Introduction to Return Fraud. According to the National Retail Federation, 13.7% of all returns are deemed fraudulent, with merchants losing an average of $13.70 to fraud for …

nofraud.com

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The Point Of No Return: How Retailers Can Fight Refund Fraud

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The Point of No Return: How Retailers Can Fight Refund Fraud. The rise of eCommerce over the past decade has driven a 33% increase in the return rate of overall retail sales. With returns on …

merchantriskcouncil.org

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What Is Return Fraud And How To Prevent It - Small Business Trends

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Jan 11, 2024 · 5.Keep An Eye On The Holidays. Fraud.net reports the return request numbers jump after a customer shopping list spikes. They say 25% of returns happen between …

smallbiztrends.com

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Scam & Fraud Protection Guide - Consumer Reports

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Jul 6, 2023 · According to the Federal Trade Commission, those in their 60s and 70s who report that they’ve been defrauded have median losses of $666 and $1,000, respectively. The …

consumerreports.org

FAQs about Stopping a BOGO return scam before it starts. : r/TalesFromRetail Coupon?

What is a return scam?

But when you dig deeper, they all are different return scams with slightly varying definitions. While return fraud is a broad term that revolves around exploiting various customer-friendly return policies, refund fraud is more specific. It is about making false claims about an item to secure a refund without actually returning the item. ...

Are e-commerce returns a scam?

It has become so commonplace for eCommerce merchants that many simply write it off as the cost of doing business. But industry experts estimate that 7-10% of returns are fraudulent, meaning losses of millions of dollars could actually be prevented. What is return fraud? Return fraud refers to any scam method that abuses a business’ return process. ...

Can you spot return fraud?

With the rise of e-commerce, there’s a growing trend of return frauds where customers claim the item was never received, or return a different or damaged item while claiming a refund for the original. Being able to spot return fraud when it happens is essential. Here’s what to look for when fighting return fraud. ...

What is return fraud & how does it affect ecommerce?

Return fraud is a good example. The US National Retail Federation estimates that for every $1 billion in sales, merchants lose $166 million in returned merchandise. It has become so commonplace for eCommerce merchants that many simply write it off as the cost of doing business. ...

Should retailers curb fraudulent returns?

That doesn’t include the cost of staffing return desks or the reputational risk of reselling used items or even "bricked" merchandise to unsuspecting customers. Those added costs can also raise the price of merchandise, so curbing fraudulent returns could save money for retailers and customers. ...

Are fraudulent returns a problem in the retail industry?

It’s the act of defrauding businesses using its return process and it’s a problem in the retail industry. If you think fraudulent returns aren’t a problem, think again. American hospitality and retail sectors reported $33.9 billion worth of merchandise was affected in 2019. ...