Saks CEO Marc Metrick on how he’s tackling online return fraud, a growing industrywide issue
Associated PressNEW YORK — At Saks Fifth Avenue’s return area at its Manhattan flagship, shoppers now see a camera and signage highlighting the enhanced video surveillance and a new policy: customers must now show a photo ID. Saks’ increased measures, to be rolled out at all 39 stores in some form, are among the latest moves that a growing number of retailers including Macy’s are undertaking to combat a rise of return fraud, particularly online, seen in the past two years. Online return fraud includes the return of stolen items, worn items, counterfeit versions and an item that’s roughly the same weight as the one in the original box being returned. AP recently interviewed Marc Metrick, the CEO of Saks, Saks Fifth Avenue’s standalone online business, and a member of the executive committee of the National Retail Federation, about the industrywide issue and how it’s being addressed. How big of a problem is online return fraud problem at Saks?
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