Chargebacks911® COO Says Post-Holiday Chargebacks are a Key Concern
Although the holidays are still several weeks away, now’s the time to start preparing for the peak season, says Monica Eaton-Cardone in a new guest feature for Get Elastic.
Get Elastic is an Ad Age Power 150-ranked blog. The site was named “the #1 eCommerce Blog” by PostRank, and was named among the “15 Entrepreneur Blogs Worth Reading by The Wall Street Journal.
You can’t wait until the holiday shopping season is here to start getting prepared. By the same token, your holiday prep plans shouldn’t conclude on December 31. “There’s a routine post-holiday spike in disputes every year,” Monica explains. “In fact, nearly half of all chargebacks filed in 2017 occurred in the first three month of the year.”
Chargebacks are a delayed problem. The average customer waits until between 45 to 60 days after a transaction to file a dispute. Thus, if you don’t have the right tools and strategies in place, you could be forced to contend with an avalanche of chargebacks once the new year rolls around.
“Consumers will try to return, on average, 15% of goods purchased online during the holiday season. Without the right strategies in place, those returns could devolve into chargebacks. If merchants wait until after the holidays to address the chargeback problem, though, they’ll be too late. Proactive chargeback mitigation needs to be part of the holiday season prep…not the post-game.”