With the increase in online businesses, it is necessary to keep an eye on the security of your store and the consumer.
The biggest event in the retail market, Black Friday, will take place next Friday (11/25). And this year, post-pandemic, the expectation is for the event to expand into the digital market, due to the transformation of people’s consumption patterns. Many consumers who were not accustomed to making purchases on virtual stores due to fear of fraud, product quality, non-delivery, merchandise exchange, among other factors, have developed a positive connection with the digital market.
In 2020, during the social isolation, Brazilian digital retail saw a 41% increase in revenue, according to a study conducted by NielsenIQ. Last year, even with the reopening of physical stores, the growth was 27%. For this year, the expectation is that during Black Friday, more than 8 million sales (approximately R$6 billion) will be conducted digitally, according to the Brazilian E-Commerce Association (ABCOmm). This represents a 3.5% increase compared to the same period in 2021.
However, even with the positive growth in online sales, it is important to understand that Black Friday depends not only on attractive prices offered by e-commerce stores. Consumers also value a variety of payment options, interest-free installment purchases, and secure stores, which are crucial factors when making purchasing decisions.
Increasing the sales potential of your virtual business using a robust infrastructure combined with advanced data intelligence is a great attraction and can lead to good business. It’s important to remember that even with all the updates in the digital market, there are still scammers operating in the market, from cloned cards to personal data theft.
That’s why technology and security are fundamental points for increasing revenue. Establishing internal data validation processes is essential to minimize these difficulties. With these data analysis solutions, it is possible to compare buyer information with the cardholder’s information and review suspicious transactions to protect your business. Document verification for each buyer is also one of the strategies to reduce fraud risks.
Boosting sales and preventing fraud during this period is a challenge for retailers, so relying on security tools can make a difference in your business.