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Profits: Lost in the Surge

Posted on 1/13/15 12:49 PM

 

There is an old saying, “It’s not over til it’s over.” The holiday sales surge is a good time to keep that tenet in mind. 

If you are a sports fan, you may recall a celebratory disaster that involved Leon Lett a Dallas Cowboy’s defensive lineman. Mr Lett had the good fortune and skill to recover a fumble by the Buffalo Bills during the fourth quarter of Super Bowl XXVII. Ball in hand he took off for the end zone, another touchdown for the Dallas Cowboys almost guaranteed.

At about the ten yard line, however, Mr. Lett began his premature celebration, the football held out in one hand as he prepared his theatrical victory dance in the end zone. To his shock, dismay, and embarrassment, Buffalo Bill’s player, Don Beebe had chased him down and Beebe stripped the ball from Lett’s outstretched hand before he crossed the goal line. Celebration Canceled.

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Topics: loss prevention, policies and procedures, educate, Holiday Tips, customer service, Gift Card Fraud, Refund Fraud

Preventing Gift Card Fraud

Posted on 8/5/14 12:50 PM

Protecting Your Program From Loss and Liability

Gift cards have become the perfect gift for many consumers over the past couple of years. When not certain what to buy someone for birthday, holidays or any special occasion, a gift card from their favorite retailer is a great choice. For retailers, a gift card purchase ensures the holder will eventually purchase merchandise from their store, securing future sales. Gift Cards have quickly become a growing sales opportunity for retailers of all sizes.

One area that retailers may have not been properly prepared for was the fraud associated with gift cards. With gift cards becoming more popular, retailers are seeing and reporting more incidents of gift card fraud.

Gift Card fraud has occurred in all types of retailers, big and small. Grocery and retail. These frauds can occur in any retailer offering gift cards and stored value solutions. The retailers it will affect the least are those who built strong programs to protect their gift cards.

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Topics: Gift Card Fraud

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