(PRESS RELEASE) MIAMI, FL — Global fraud protection leader, ClearSale (www.clear.sale), and leading industry-focused ecommerce platform, Punchmark (www.punchmark.com), have partnered up to support jewelry retailers increase sales and eliminate fraud in time for a banner holiday season for ecommerce.
Experts are predicting a growth year for holiday shopping online, with a recent Deloitte projection putting e-commerce sales at 11-15% higher in year-over-year comparisons. Similarly, Mastercard’s SpendingPulse survey puts jewelry sales growing 59% in year-over-year comparisons. While overall these numbers appear rosy, online sales are a relatively new arena for jewelry retailers. In 2019, online jewelry purchases only accounted for $41B of $229B in global sales. With increasing comfort in purchasing luxury items online, at least partly due to COVID-19, online jewelry sales are expected to top $58.9B by 2027.
This inexperience in the online retail world has put jewelers firmly in the sights of fraudsters. The combination of lack of online fraud experience and high-value sales gives jewelry retailers little room for mistakes. With Punchmark’s seamless integration with ClearSale, however, merchants get unparalleled fraud protection included within their online storefront solution.
ClearSale’s balance of advanced statistical fraud analysis and the world’s largest and most experienced team of analysts protects jewelers with the most complete ecommerce fraud protection available. ClearSale’s innovative solution covers all angles of potential fraud, from preventing it at the point of sale to recovering losses due to chargebacks and friendly fraud, while also minimizing reputation-damaging false declines.
“What jewelers must understand,” explained David Fletcher, ClearSale SVP, “is that fraudulent charges are only part of the story. When a customer’s purchase is declined when it shouldn’t be, that creates a poor customer experience in the name of protecting the sale. But false declines can cost an online merchant almost 12 times as much as fraud. So, it’s crucial to use a solution that protects against both. With ClearSale integrated directly into Punchmark’s platform, jewelers have that increased level of protection available to them.”
“Thanks to ClearSale, our clients have peace of mind driving ecommerce transactions through their website with us,” said Bryan Cockerham, CTO of Punchmark. “Jewelers just starting their online retail journey aren’t always aware of the pains and dangers of ecommerce fraud in this industry. By partnering with ClearSale, we’re able to add value to our customer’s online stores with a solution that prevents costly issues with fraud. This partnership has been a game-changer.”
Jewelers looking to set up an online presence and ecommerce storefront should contact Punchmark. For information about ClearSale and its groundbreaking fraud protection, visit the company’s website to learn more.