SAN JOSE, Calif.--(BUSINESS WIRE)--Signifyd today announced that it has joined forces with popular brands Vera Bradley, Lovesac and Groupe Dynamite to provide commerce protection and order flow automation as the consumer favorites continue to drive digital transformation across their enterprises.
Top apparel and accessory brands Vera Bradley and Groupe Dynamite, and furniture brand Lovesac, have fully embraced the modern retail strategy of building a powerful technology stack that prioritizes speed and customer experience in ecommerce operations.
Retail’s digital transformation has been underway for some time, but it’s been accelerated dramatically by the COVID-19 pandemic, which has pushed more consumers online than ever before.
“With our scaling ecommerce business and need to support customers in new ways, we knew it was the time to rid ourselves of legacy technology and find more effective solutions,” said Ted Guglielmi, head of digital transformation at Canada-based Groupe Dynamite, the parent of apparel retailers Garage and Dynamite. “That means having the data to understand which customers are legitimate shoppers, the automation in place to make decisions in real time and the ability to scale processes up to match demand at its peak, like it was during the pandemic and will be again this holiday season. We selected Signifyd as our strategic partner in this effort because of their technical excellence in these areas.”
Vera Bradley, a female-founded company launched in 1982, has been a pioneering retailer from the beginning, bringing whimsy, pizazz and color to the world of luggage, totes, backpacks and handbags. It has consistently upped its digital game and saw a doubling of its ecommerce revenue in its most recent quarter.
“We know that the pandemic will have a lasting effect on the way consumers act and shop and that our digital capabilities will be even more important than ever,” said Tom Giacalone, vice president of digital at Vera Bradley.
Lovesac, an innovative furniture retailer born of founder Shawn Nelson’s post-high-school brainstorm, has experienced incredible growth while building a strong direct-to-consumer enterprise. The seller of configurable, rearrangeable and washable furniture built to last a lifetime saw demand surge as consumers spent more time indoors. Like Vera Bradley, the retailer took the occasion of a recent replatform to upgrade its digital tools and solutions.
“I am very pleased with our team’s ability to adapt as we serve our customers in a rapidly changing operating environment,” said Donna Dellomo, EVP and CFO at Lovesac. “Our operational pivot to focus on digital channels while showrooms were closed or operating in a limited fashion was very effective. With Signifyd working behind the scenes, we could ensure that every legitimate customer that wanted to purchase a product could. Checkout would never be delayed and the customer experience would always remain top notch.”
Vera Bradley, Lovesac and Groupe Dynamite are among the retailers that are nimbly adjusting to pandemic-driven changes in the way consumers shop. More than 77% of respondents told Signifyd in a September poll that they would either not shop in physical stores at all or would limit their visits as much as possible.
Signifyd’s Commerce Protection Platform is empowering all three brands to practice fearless commerce online by providing its Revenue Protection and Abuse Prevention solutions.
“We are incredibly excited to welcome Vera Bradley, Lovesac and Groupe Dynamite to our community of enterprise retailers,” said Signifyd CEO Raj Ramanand. “The past seven months have been a challenging time for retail, but these three sterling brands have shown not only resilience, but the innovative and forward-looking mindset needed to succeed today and well into the future. We couldn’t be prouder to support their success.”
Signifyd’s Commerce Protection Platform provides three primary solutions:
- Revenue Protection, which automates order review while instantaneously sifting fraudulent orders from legitimate ones.
- Abuse Prevention, which prevents financial losses from consumers taking advantage of corporate policies while automating the representment process for chargebacks that do occur.
- Payments Compliance, which provides a Seamless SCA solution and future-proofs a merchant’s payment systems in the face of evolving regulations, such as PSD2 in Europe.
Signifyd provides an end-to-end Commerce Protection Platform that leverages its Commerce Network to maximize conversion, automate customer experience and eliminate fraud and abuse for retailers. Signifyd counts among its customers a number of companies on the Fortune 1000 and Internet Retailer Top 500 lists. Signifyd is headquartered in San Jose, CA., with locations in Denver, New York, Belfast and London.