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It’s beginning to look a lot like winter…and you know what that means!?
Companies across the globe – retailers, e-commerce stores, social media shops, and other consumer brands – offer discounts and deals on services and goods in the hopes of capturing more revenue before the year ends. But how can you stand out in the crowd and catch new and returning customers’ attention?
Keep reading to discover a unique way to help differentiate your brand and nurture customers beyond a single transaction.
Holiday Spending Expectations
Last month, the National Retail Federation forecasted that “holiday spending is expected to reach record levels during November and December and will grow between 3% and 4% over 2022” –between $957.3 billion and $966.6 billion.
According to Iris® Powered by Generali’s 7th Annual Holiday Shopping ID Theft survey, 29% of men and 31% of Millennial shoppers plan to spend over $1,000, respectively, this holiday season. That’s considerably higher than all other demographics, including 16% of women who say the same.
Holiday shoppers are looking to spend big but are still conscious of getting the most bang for their buck.
Seemingly Endless Deals – How to Break Through the Noise
Nowadays, consumers don’t even have to wait for Black Friday or Cyber Monday to start their holiday shopping, as many retailers have begun rolling out deals and discounts ahead of those well-known shopping holidays. But let’s be real, some of those discounts aren’t…well, real.
Consumers’ Checkbook released a study showing many stores are posting major discounts, but there’s more than meets the eye. Over 33 weeks of tracking various items at 24 major retailers, researchers found that most stores’ discounts aren’t discounts at all.
This deceptive advertising can ultimately damage consumer trust, making consumers wary of doing business with brands for fear of being lied to about the real value of products and services.
So, how can you break through the noise and offer consumers real value savings that will keep them coming back or engaging with your business throughout the year? Scam prevention services may be the answer – scams are certainly a problem to address.
Don’t Let Scams Ruin Your Consumers’ Holiday Cheer
It’s no secret: scams are a problem, and consumer concerns are rising:
- Over half (52%) of Americans view theft as a threat this holiday season.
- 44% of adults consider having their identity stolen via a type of scam a threat.
- Consumers reported that they are more likely to consider identity theft via a type of scam a risk (38% in 2022 vs. 44% in 2023).
Gift Consumers with Peace of Mind That Will Last Year-Round
In 2022, imposter scams remained one of the top fraud reports submitted to the FTC, with a reported loss of $2.667 billion. But when consumers fall victim to scams disguised as a well-known and trusted brand, consumers grow wary of engaging with any communications from that brand.
To address this rising concern, many global companies and consumer brands have begun educating their customers and potential customers about common scam tactics, particularly those that target a specific customer base or industry.
For example, UPS has a dedicated webpage that educates consumers on recognizing and reporting fraud and scam attempts. The webpage also highlights how scammers will use UPS’ brand to trick unsuspecting individuals. But UPS isn’t the only company providing identity fraud and scam protection resources. Well-known companies like Walgreens, Wells Fargo, Amazon, and many others have similar resources to help consumers protect themselves against scams and identity theft/fraud.
Providing your customers with tips and resources on scam protection is one way to show them that you care for their well-being. Offering your customers a scam detection tool can help strengthen your relationship beyond a single transaction.
ScamAssist® Makes for the Perfect Holiday Gift
While consumers shop and look ahead at a likely much-needed holiday break and time spent with their loved ones, scammers work around the clock to steal their money and personal data. Offer your customers a scam detection tool built into their portal and help them avoid falling victim to fraudsters’ scam communications with Iris’ ScamAssist, a brandable 24/7 online scam analysis tool.
With ScamAssist, customers can:
- Submit suspicious solicitations (i.e., email, text or SMS, voicemail, direct mail, etc.) for review online or call our 24/7 U.S.-based Resolution Center for assistance – before clicking or responding to it.
- Become knowledgeable about scams, as ScamAssist’s online portal educates consumers on how to avoid common scams and keep their information secure.
- Get help from our team of experts if they have been victimized by starting the recovery process and reporting the incident to the proper authorities on their behalf.
Our scam detection tool allows retailers and other consumer brands to forge goodwill and holiday cheer with consumers – even in July.
Click the button below to learn how ScamAssist can work for you and your customers.