Do receipt-less returns make you feel happy, or something else? That probably depends on where you sit.
If you’re a customer, receipt-less returns likely make you happy, because the receipt is one less thing to worry about. Is it in the bag, the trunk of your car or under a bunch of stuff on your desk? Is it in the trash? Not having to look around for that piece of paper makes the process of returning an item that you have two of, that may be damaged, or that you don’t need much easier.
But if you’re a store, you may have mixed feelings. On the one hand, keeping your customers happy helps bring them back. Receipt-less returns simplify a process that customers may find frustrating (see above). That added customer satisfaction is important for your business. On the other hand, receipt-less returns can and do attract fraudsters. The sort who may shoplift a product then try to return it…. without the receipt. This equates to substantial losses. In fact, RSR Research retail analyst Paula Rosenblum states that retailers lose a third of their revenue to returns.
You probably already have a POS system that helps you handle returns. But you don’t have a fool-proof way to identify who’s making the return. You may ask for an ID, but how do you know that it’s real? While knowing that it’s real gives you high confidence, a visual scan is not effective with today’s fake IDs. OCR-based identity verification systems are slightly more accurate than a visual scan — they are right about 60% of the time or a bit better than a coin flip. These systems can also take more time than your customers have patience. So, what’s a business to do?
Intellicheck offers an identity validation solution that gives you more peace of mind. Its 99.9% accuracy means that you will know if the ID is real (or fake), and that the person making the return is who they say they are. Because getting an answer on the authenticity of the ID takes under a second, there are no pauses in the return process. Intellicheck also works with your POS scanner, if that’s what you use, or with your mobile device.
We think Intellicheck might move you into the happy camp. But, if you remain unconvinced, please reach out, and we can tell you more and show you Intellicheck in action.