A leading Indian e-commerce marketplace was confronted with a mounting challenge of e-commerce fraud management and returns, impacting revenue and customer trust. In response, we leveraged our seasoned research and retail insights team to craft a comprehensive strategy. Armed with a holistic solution, find out how the client witnessed tangible cost savings, reinforcing their market standing and customer trust with ongoing support from us.
Objective and challenges
The client, a prominent Indian e-commerce marketplace, faced a growing issue of fraudulent returns, causing revenue loss and customer trust erosion. Their challenge was to combat this trend effectively, particularly in the high-value product category, starting with electronics and expanding to others.
Approach and solution
The Netscribes team of season experts in research and insights, especially in retail, devised a comprehensive approach to tackle these e-commerce fraud management challenges:
- We processed a staggering 53,04,000+ return incidents
- Protected revenue worth 3,000+ Crores, thus being a High-value Authorized Service Provider
- Elevated the Return Acceptance Rate (RR) to an impressive 12.5%
- Enlisted a dedicated team of 200+ specialists, meticulously specialized across product categories
- Implemented an automated workflow to streamline incident processing
- Addressed a wide array of return reasons, from damaged products to supply chain issues
- Conducted real-time internal audits, optimized SOPs, and secured client approvals
- Ensured the continuous training and evaluation of our team
Results delivered
Our collaboration brought remarkable results:
- Substantial reduction in revenue losses due to fraudulent returns
- Improved Return Acceptance Rate, signifying an effective identification of fraudulent returns
- Restoration of customer trust and satisfaction through a more secure return process
- A dedicated team guaranteeing high accuracy across diverse product categories
- An enduring partnership equipped to tackle evolving challenges in the e-commerce landscape
Client benefit
Armed with our holistic solution the e-commerce mammoth was able to not only provide effective fraud and return resolutions but also witness tangible cost savings at scale. Apart from protecting their revenue, they also gained a stronger grounding in customer trust and safeguarding their online reputation, with constant support from us.
