Company
Date Published
Author
Evelyn Chea
Word count
911
Language
English
Hacker News points
None

Summary

Online retailers are expected to see an 8.4% increase in holiday season spending, with $240.8 billion projected to be spent online between November 1 and December 31, largely driven by mobile device purchases. However, merchants face challenges such as ensuring sufficient inventory and running effective ad campaigns, as well as combating an anticipated rise in online payment fraud, which could surpass $343 billion from 2023 to 2027. To mitigate these risks, retailers can optimize mobile checkout experiences, enhance fraud detection capabilities, and implement protective measures such as capturing customer IP addresses, verifying credit card details, and using device intelligence solutions. Additionally, strategies to prevent promo code abuse and shipping-related fraud include enforcing promo code restrictions, providing tracking details for shipments, and utilizing third-party shipping protection services. By adopting these best practices, retailers can reduce fraud risks, protect their revenue, and improve conversion rates during the holiday shopping season.