Chargebacks911 CEO Monica Eaton says that, while the so-called “Golden Quarter” is highly anticipated, it could bring challenges like increased chargebacks.
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Monica suggests that, due to a variety of factors, the holiday season this year will be unlike any previous year. She cites a lack of disposable income for some consumers, fuel prices, and other potential roadblocks.
“Studies by Deloitte cite one in four U.S. citizens feeling anxious about their employment situation, and their purchasing intentions ‘signal weakened spending confidence,’" she says. “These economic challenges have created an environment where consumers are more inclined to seek ways to make their money go further, especially during the holiday season.”
Monica goes on to explain that this could lead to a surge in chargebacks. But, that businesses are also not helpless in this situation.
“External factors aside, businesses can also acknowledge their internal processes and practices that may inadvertently contribute to their chargeback rates. During the holiday season, many online merchants underestimate the volume of traffic to their sites which can lead to transaction disputes piling up. The backlog can frustrate customers and prompt these to become chargebacks.”
