Retailers have accepted the reality of returns fraud. Seamless omni-channel shopping with varied fulfillment routes and convenient wide range of return possibilities, retailers must detect suspicious behavior in real-time to protect the bottomline. Shocking to consider: For every $1 billion of revenue retailers work so hard to achieve, approximately $9 million are lost to fraudulent activity.
Combatting returns waste and fraud has become a top priority among retailers. Scenario challenges retailers are experiencing include:
- Increase in non-receipted returns
- Buy online and attempt to return in person at a different retailer
- Buy online and attempt to return at multiple locations with the same receipt
- Request return authorization and refund but returns a different item
- Buy, use, and/or abuse, then return activities (Wardrobing)
Our Joint Approach
SAS and KPMG combine fraud and retail leadership, strategic advisory, market leading analytical technology, operational delivery excellence, and demonstrable results to address returns fraud by offering a multi-layered approach on a single analytical platform. Collectively, we guide retailers through the digital transformation.
SAS and KPMG provide a combination of software and services to alert and monitor returns from the wide-ranging consumer journey to help retailers:
- Detect and adapt to trends
- Create traceability
- Analytics to action