In a recent article that revisits this season’s Black Friday roundup, Chargebacks911 founder Monica Eaton warned industry insiders that low sales might not be the only issue this season. Chargebacks are also on the rise and coming to a ledger near you.
Founded in 1990, Interactive Media in Retail Group is a trade association focused on helping online retailers and brands to better understand and improve their overall performance. IMRG has grown to become the UK’s largest eCommerce membership community in recent years. Composed of retailers, brands, and technology partners, they encourage cooperation between brands and technology partners to forge sustainable relationships.
According to the article, the initial discourse around Black Friday asked What will happen? Will things get better or worse? IMRG offered a well-informed forecast in September that considered the cost of living crisis, The World Cup clash, and trended performance thus far. Ultimately, results were slightly lackluster throughout most verticals. Why?
Turns out, the pandemic, lingering supply chain woes, inflation, and high living costs have deeply impacted many consumers in the last two years, just as Monica frequently predicted throughout 2021-22. Another issue that she wants to warn merchants about is that chargebacks are sure to follow this mediocre holiday season and that businesses need to be prepared.
All too familiar with post-seasonal chargebacks lurking around the corner, Monica advised merchants, ‘’Our advice would be to tighten up your company’s anti-fraud processes now to keep as much of the profits from this time of year as you can.”