AI and busting "high risk fraud" orders in the bud

Welcome to Q2, dear 8,625 Sellify Success Club Members 👋

It's Ada here with another dose of Shopify insights, the latest trends, tips, and hacks to help you crush your takings this week. 

This week, we’re covering:

• AI in E-commerce 

• High Fraud Risk Warnings: A Guide

• Trends: CBN Gummies

• Challenge: Bust Your High-Risk Orders in the bud

AI for eCom 🧞‍♂️

According to a 2024 McKinsey report, more businesses are using AI than ever before. Ecom businesses (including your competitors) are increasing sales by  using AI to:

• Gain insight into customer behaviors/preferences, which helps them send better-targeted offers and reduce churn

• Predict customer buying patterns and make better-targeted cross-sell/upsell offers

• Automating customer services for leaner, more efficient operations

..and more. 

In fact, there’s an entire section of There’s An AI For That dedicated to matching ecom sellers with the right AI tool. Check it out!

High Fraud Risk Warnings: How to Deal 🚨

When it works, technology (like AI) can add to your money in the bank. In the wrong hands, it can pull the rug from under your feet and deduct from your bank account. That’s why you need to watch out for “high fraud risk” transactions and deal with them appropriately. 

And if you’re wondering how to spot these nefarious orders, Wise Merchant kindly demonstrates:

Image Credit: Wise Merchant

Now, here’s how to deal with fraudulent transactions appropriately

1. Verify, Verify, Verify! Double-check the customer details, call the number to confirm the transaction, check the IP address, and Google the email address

2. Use AI Tools. Yes, our good old friend AI can help spot fraudulent patterns faster than you can say "chargeback."

3. Set Up Alerts. Keep your eyes peeled with automated alerts for suspicious activity.

Challenge: Fix-up High-Risk Order Handling🤖

Now, let's move on to our challenge for this edition. 

Take 30 minutes this week to set up a Shopify flow to handle your risky orders once and for all. 

Trending Product: CBN Gummies

Switching gears from digital, let's talk about sleep. 

7,400 monthly searches (and rising) for CBN gummies tell us much more about people’s need for sleep than their love for fancy confectionery. 

CBN gummies are chewable supplements that contain CBN, a form of cannabinol that’s only about 25% as potent as THC. These gummies are often marketed as sleep supplements, thanks to their relaxing effect.

These are just one product that ecom sellers can position as a solution to the growing sleep epidemic (McKinsey alleges that up to 45% of the global population isn’t getting enough sleep)

Apart from selling CBN gummies, here’s how you can cash in on the sleep-deprived economy:

• Upsell/cross-sell sleep-enhancing versions of products - tea blends, silk eye masks, essential oil blends, bath bombs, earplugs, aromatherapy linen mists…pretty much anything that helps your audience sleep better. 

• Throw these all into a sleep subscription box and test

Wrapping it Up 🎁

There you have it, folks! Whether you're harnessing the power of AI, testing out the sleep market, or safeguarding your store from fraud, there's always something new to learn and explore in the world of e-commerce. Keep innovating, stay curious, and remember – the future is now, and it’s AI-mazing!

Until next time, wishing you more sales in Q2! See you around 🛒✨

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