While Australia’s jewellery industry has seen a decline in in-store purchases over the last several years, the impact of the pandemic has driven shoppers to go online for their luxury purchases. And as consumers continue to leverage the safety and convenience of online shopping, global fraud protection leader for e-commerce ClearSale has provided unparalleled results for Australian jewellery and luxury item retailers.
A recent survey conducted by the company showed that 60% of Australian shoppers said they were most likely to purchase clothing, fashion, and accessories online, with 11% calling out luxury goods and high-end name brands.
Aside from this, Industry Research firm IBISWorld reports that online jewellery and watch sales for Australian retailers is expected to increase by 3.7% in 2020-2021.
With the increase in e-commerce sales in the industry, it is clear that fraudsters will increasingly target retailers that have low or no fraud protection.
Australian jewellery retailers that have an e-commerce presence would need to protect both their customers and their sales by using fraud solutions that won’t cost them friction in the buyer journey.
Offering exceptional results, ClearSale has proven itself as a fraud prevention leader across Oceania and the globe.
ClearSale offers the most complete e-commerce fraud protection by combining cutting-edge statistical technology with the world’s largest team of specialized fraud analysts.
ClearSale showed its value to online jewellery retailers through the case study done with Melbourne-based fine jewellery seller, Bevilles.
In the study, Bevilles experienced a significant increase in approval rates while avoiding fraud since implementing ClearSale.
“We were manually verifying orders that had been flagged by the built-in fraud tools that came with our e-commerce platform,” Bevilles’s E-commerce Manager Sunilkumar Nagarajan explained.
“We were able to quickly reclaim our team’s time for more important tasks while worrying less about chargeback and lost revenue.”
By using an innovative, AI-driven fraud prevention engine, ClearSale maintains the largest team of specialised fraud analysts in the world. In fact, APAC businesses that use ClearSale experience unmatched fraud and chargeback protection while realizing higher revenue with increased approval rates.
“Many e-commerce shoppers are buying for the first time, and 25% of those in Australia report jewellery and luxury items as their first purchase,” ClearSale Australia’s Country Manager Ralph Kooi said.
“First time purchasers see elevated rates of false declines, but ClearSale is able to help our customers avoid the negative consequences of false declines while limiting chargebacks and fraud, even with cross-border purchases.”