CUSTOMER RETURNS IN THE RETAIL INDUSTRY

Did you know that return fraud and abuse will cost retailers about $3 billion this holiday season and between $9.6 and $14.8 billion annually! (Customer Returns In The Retail Industry) For perspective, that dollar figure would place return fraud among the top 25 retailers in the US. By validating the integrity of each return, retailers are helping to improve customer service at the return counter; therefore, offer you a more competitive, cost-effective shopping experience.

 

THE RETAIL EQUATION LAUNCHES VERIFY-2™ RETURN AUTHORIZATION

The Retail Equation announces the launch of Verify-2™ Return Authorization. Now it’s easier than ever to protect your stores from fraud and abuse at the point-of-return, while still providing fair and friendly customer service with our patent pending receipt triangulation™. This new version supersedes our Verify-1® solution — with the added option to deploy the system without needing to collect customer ID on many return transactions.

 

REWARD GOOD CUSTOMERS AT THE RETURN COUNTER

Many times a retailer’s best customers are also high returners. It makes sense; the more you purchase the greater the likelihood you will need to return something. Smart, customer-focused retailers are leveraging interactions with these consumers at the return counter to improve your shopping experience, and reward good customers with incentives to continue shopping in their store.

MAKE CHARITABLE GIVING EASIER

$35 billion in spare change is expected to change hands throughout 2010! What if there was a mechanism to easily allow you to give that spare change to a charitable organization with out requiring you to do anything more than say “yes”? That’s the idea behind Change for Charity™, a brand new service offering that lets a retailer keep the spare change coins from your sale or return, aggregates it with similar donations from other shoppers, and distributes it to select charities. Soon you can be part of the “power of many” and make a big change.