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Addressing return fraud
DoorDash new partnership with Lowe’s partnership
AI revolutionizing B2B eCommerce
Streamlining online shopping returns
AI’s role in brand success on Amazon
Addressing return fraud
Returns are a significant challenge for online merchants, impacting customer satisfaction and profitability.
Doriel Abrahams, head of risk at Forter, and Richard Kostick, CEO of 100% PURE, stress the importance of data in combating fraud and improving the returns process.
In the digital age, practices like bracketing contribute to the estimated 15% of fraudulent returns. For merchants, handling returns can be costly, especially when items cannot be resold. To tackle abuse, 100% PURE implemented a rigorous returns process, identifying and penalizing repeat offenders.
Data analytics are pivotal in detecting fraudulent behavior and optimizing returns. Forter’s AI platform identifies suspicious patterns, while AI-driven inventory management anticipates consumer preferences and product issues. Despite challenges, leveraging data insights offers a way forward in the fight against return fraud and inefficiency.
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DoorDash expands into Home Improvement with Lowe’s partnership
DoorDash has ventured into home improvement through a strategic partnership with Lowe’s.
The collaboration, announced in a press release on April 1, sees DoorDash offering a range of products from Lowe’s, including gardening tools, spring cleaning essentials, and DIY supplies sourced from over 1,700 stores nationwide.
Fuad Hannon, Vice President of New Verticals at DoorDash, highlighted the partnership’s significance in providing consumers with quick access to essential tools and materials for projects of all sizes. The inclusion of Lowe’s on DoorDash’s platform further enriches its marketplace, which now boasts over 150,000 non-restaurant stores globally.
Customers can purchase Lowe’s products directly on the DoorDash app, enjoying the convenience of integrated shopping alongside local retailers. These items are also eligible for DoorDash’s membership program, DashPass, offering free delivery and reduced service fees for qualifying orders.
Neelima Sharma, Senior Vice President of Digital Commerce and Technology at Lowe’s, emphasized the partnership’s role in enhancing the retailer’s omnichannel capabilities and reaching new DIY customers.
This expansion into home improvement follows DoorDash’s recent moves into diverse sectors, including beauty and pet supplies, reflecting its broader strategy of becoming a comprehensive delivery platform beyond food services.
AI revolutionizing B2B eCommerce
The recent surge in artificial intelligence (AI) development heralds a monumental shift in technology, comparable to the internet’s inception.
At Bowery Capital, specializing in backing early-stage business software startups, we witness AI’s transformative potential in B2B transactions, redefining purchasing norms and streamlining operations.
Here’s how AI is reshaping B2B ecommerce:
Enhanced Procurement: AI-powered recommendation engines replace traditional catalog browsing, offering tailored product suggestions based on user history and real-time data.
Trade Credit Innovation: AI integration enables real-time credit assessments, automating credit approvals and minimizing risk for sellers extending trade credit.
Product Data Management: AI-driven systems tackle the complexities of product inventory management, alleviating the “data problem” faced by distributors.
Tech Adoption in B2B: Early AI adopters gain a competitive edge, revolutionizing B2B commerce with precision and innovation.
Embracing AI-native strategies promises to resolve industry challenges and pave the way for a more efficient, dynamic future in B2B ecommerce.
Streamlining online shopping returns
In PYMNTS’ latest report, insights from a survey of 3,500 U.S. consumers revealed a pivotal trend: ease of return processes significantly influences shoppers who buy directly from retailers’ platforms.
According to David Sobie, VP of Happy Returns at PayPal, consumers increasingly seek swift and hassle-free returns. Sobie highlighted that over 70% of shoppers opt for Happy Returns, emphasizing the demand for streamlined systems.
Jonathan Poma, CEO of Loop, echoed this sentiment, emphasizing retailers’ need to prioritize seamless returns to foster positive customer relationships. Notably, retailers are adapting by allowing returns without traditional proof of purchase, like receipts, to enhance convenience and satisfaction.
As consumers prioritize efficiency, retailers must optimize return processes to align with these expectations. Streamlining returns not only enhances customer satisfaction but also cultivates enduring relationships vital for success.
AI’s role in brand success on Amazon
In the competitive world of Amazon’s marketplace, brands must differentiate themselves to capture consumer attention and loyalty.
According to Daniel Peled, chief revenue officer at Noogata, specialization is crucial for brands to compete effectively. Jaron Seijffers, director of product management at Noogata, emphasizes the importance of establishing strong brand identities to succeed on Amazon.
With Amazon’s dominance in retail, success on the platform is essential. AI emerges as a key tool for brands, facilitating tasks from content creation to analytics. Peled urges brands to leverage AI’s broad capabilities beyond chatbots.
Looking ahead, Seijffers predicts that hyper-personalization will drive future growth, highlighting its significance in the evolving eCommerce landscape. Brands that embrace AI and prioritize personalized experiences are positioned to thrive in the competitive Amazon marketplace.
Signing off,
The Merchant @CartHustle