Monica Eaton of Chargebacks911® Offers Business Continuity Insight
With the coronavirus outbreak still growing globally, many business owners are scrambling to ensure they stay afloat. In a new guest feature for Retail TouchPoints, Chargebacks911 COO Monica Eaton shares the knowledge businesses need to protect themselves and prevent loss at this troubling time.
Retail TouchPoints is an online publishing network for retail executives, offering content focused on optimizing the customer experience across all channels. They rely on expertise and insight from every corner of the market to help improve global retail operations.
Despite the economic downturn, many eCommerce retailers are actually seeing an increase in shopping as more consumers find themselves trapped at home. That sounds great, but it could lead to problems if merchants aren’t prepared to manage the surge in activity. “First, while consumers are reporting more online activity right now, there’s the possibility of collapsing consumer demand in mid-term forecasts as the economy grows unstable,” says Monica. “There’s also the growing risk of fraud in our current situation.”
Merchants could face labor shortages, supply chain disruption, and other obstacles. Fraudsters know how to exploit of these difficult conditions to take advantage of merchants. At the same time, more and more consumers could end up filing friendly fraud chargebacks.
“It’s hard to predict with any reliability, but friendly fraud cases are almost certain to rise due to the coronavirus as buyers become more comfortable filing disputes.”
