A few years ago, most people would have scoffed at the thought of ecommerce becoming a necessity for retail success. Now, we know that it’s very much required for many retailers to survive. According to Forrester’s Ecommerce Forecast looking at the next few years in retail, ecommerce accounted for over nine percent of total U.S. retail sales in 2015, which is roughly $334 billion. Industry analysts expect to see that number continue to grow, with expectations of a compounded annual growth rate hitting 10 percent over the next four years, translating to $480 billion in online sales by 2019.
This staggering growth of online sales brings huge opportunity for traditional retailers to meet customers’ demands in the changing marketplace and drive additional revenue, but it also presents a major issue that impacts every retailer’s bottom line: fraud.