Heading into the 2021 holiday shopping season, antifraud technology provider Riskified released a report detailing some of the things merchants should be paying attention to during the busy weeks at yearend.
The Riskified Holiday Report 2021 looks at consumer buying patterns, omnichannel and payment trends that will impact merchants this year, opportunities to attract and retain customers and how fraud could impact retailers’ operations.
The report detailed which products experience the most significant increases and decreases in fraud rates during the holidays compared to the rest of the year. Riskified found that cosmetics and children's products experienced the biggest rise in fraud rates during the holidays while electronics and jewelry saw the biggest drops in fraud rates (likely because of an increase in overall sales of these products).
“The holiday season is sometimes referred to as the most hectic time of the year — and that’s not taking pandemic repercussions into account,” the report says. “This year, retailers must think about rebalancing in-store and online channels, planning around supply chain disruptions, and offering the variety of shopping, payment, and fulfillment options that digital customers desire.”