Fraud Prevention for Omnichannel Shoppers

The day of brick and mortar stores relying on in-store shoppers is a thing of the past. Today’s consumers look for immersive experiences that can deliver what they want when they want it. Whether that is achieved through visiting a store in-person or using a handheld device in the comfort of their own home, shoppers are diversifying the ways through which they make purchases. Sometimes the two are combined. This is referred to as omnichannel shopping.

The Rise of Omnichannel Shopping 

Online retail is thriving at a time when many consumer-based industries are struggling. Omnichannel retailing provides digital channels to customers shopping in traditional retail settings. This allows a retailer to draw shoppers toward particular products by integrating their in-person shopping experiences with their digital habits. This is often achieved by using apps that integrate a person’s shopping experience with online offers. It is important for retailers to have the ability to control the narrative of a shoppers’ experience when they are inside a store. Most shoppers already use their phones to compare prices or hunt for coupons before heading to the checkout counter. Those same shoppers can use interactive tools within a store setting. Things like interactive catalogues, instant price checkers, or downloadable coupon offers can enhance shopping experiences and add value to the act of showing up in person to shop.

The Digital Risks of Digital Retailing 

Enterprises that tap into the benefits of omnichannel shopping must also take on the responsibility of ensuring that their digital channels are protected. Sending and receiving data increases the risk of fraud. Every customer that comes into contact with a retailer’s omnichannel digital tools is putting their trust in that retailer to keep their information safe from security breaches and fraud attempts. Unfortunately, breaches can occur. Breaches can cause customers to pause before accepting discounts at the expense of their personal data.

The best way to protect personal information is through data aggregation and analyzation. Developing a plan for endpoint protection and fraud prevention that relies on current and past data to detect breaches or inconsistencies is key for any omnichannel enterprise. Using big data to create strict baselines for activity can be crucial when it comes to detecting a breach attempt before the information becomes compromised. It is essential that enterprises employing the benefits of omnichannel sales protect the information they receive. Using big data is a principal way to ensure that risk is mitigated and shoppers can enjoy the benefits of multiple channels to get the products they want.

Omnichannel retailing can also draw customers to a store using the allure of online deals. The most popular form of this is when retailers offer the ability to purchase a product online and pick it up for free at a store location. This taps into the desire for free shipping without actually forcing a retailer to fork over the cost of shipping.

Omnichannel marketing can be predictive when it is done correctly. Certain platforms can factor in information about customers as they interact with a retailer’s technology. This can garner data that includes things like a shopper’s location, gender, age, search habits and browsing habits. When used correctly, this information can be just the data needed to locate inconsistencies and identify potential breaches. While the act of shopping is shifting due to technology, personal data security does not have to be compromised. With the right tools, fraud prevention via big data can give shoppers confidence whether they are shopping in stores or online.

Author: Robin Gupta