Sales Shine For Reeds Jewelers As Fraud Costs Plummet
Reeds Jewelers is a family-owned jeweler with thriving e-commerce, catalog, and brick-and-mortar operations. The online store was launched in 2001, with Mark deCausmeaker, Director Multi Channel Sales, joining the team in 2007. Since opening, the web store has relied upon manual reviews using rigorous rules to protect against fraud. However, by early 2012, the order rejection rate had reached 25% and manual reviews were becoming a drag on productivity.
We increased sales 24% while dropping bad debt to 20% of what it used to be. In fact, bad debt is at its lowest level since I first started tracking it.
Director of Multi Channel Sales