Join us for an insightful webinar featuring our fantastic partner and entrepreneur, Daniel Carlson, from LIKELIHOOD Seattle! Daniel will be sharing his journey on building strong customer relationships and how Likelihood has become THE streetwear/sneaker retailer in Seattle. In this webinar, we will delve into the rollercoaster ride of the sneaker industry, from all sneakers selling out instantly to the cooling of the resell market. Daniel will also share his strategies for preventing bad actors and developing meaningful, authentic relationships that have helped accelerate Likelihood's success despite the dip in the resell market! 🗓️ Date: Wednesday, July 24 ⏰ Time: 10:00AM PST or 1:00PM EST Don't miss out on this opportunity to learn from one of the best in the industry. Register below:
Yofi
Software Development
Bozeman, MT 1,697 followers
Yofi helps brands better understand their customers, their intentions, and the best way to interact with them
About us
Yofi is a customer intentionality platform that protects profits and enhances data integrity by identifying and preventing bad actors like resellers, bots, and return abusers
- Website
-
https://www.yofi.ai/
External link for Yofi
- Industry
- Software Development
- Company size
- 2-10 employees
- Headquarters
- Bozeman, MT
- Type
- Privately Held
Locations
-
Primary
Bozeman, MT, US
Employees at Yofi
Updates
-
🚀 Check out the latest edition of our Yofi newsletter! 1️⃣ The “Return King of Miami” Charged! Matthew Frederic Bergwall, a 21-year-old former University of Miami student, has been charged with orchestrating a multi-million dollar fraud scheme. This highlights the ongoing battle against return fraud in retail. 2️⃣ Boosting Sales & Reducing Returns Yofi’s magic is working! We've helped an apparel and footwear brand increase their Average Order Value by 35%, while reducing returns by 5% and customer support tickets by 12%. 3️⃣ Amazon Fixing Potholes? Prankster Oobah Butler found a creative use for Amazon's return policy by filling potholes with cement and returning bags of sand! A quirky reminder of the impact of return fraud. 4️⃣ Sneaker Drop Fumble New Balance and Action Bronson’s sneaker release was gobbled up by bots, leaving fans disappointed. Less than 1/10th of bot orders were canceled, proving bots are still a big challenge in the sneaker world. Stay tuned for more updates and insights from the world of retail and e-commerce! #ecommerce #bots #fraud #returns
Lions, Tigers, and Bad Actors V1
Yofi on LinkedIn
-
Managing product returns is critical for retailers, with 14.5% of all retail sales, or $743 billion, returned in 2023 according to the National Retail Federation. E-commerce returns are even higher, ranging from 20-30%. These returns impact profitability and drive the need for new strategies. In our latest blog post, we dive deep into: - The true cost of returns and their impact on profitability. - Direct and indirect costs associated with returns. - The rising issue of return abuse and fraud. - Dynamic strategies for managing returns efficiently. Retailers face a delicate balance between maintaining margin expansion and ensuring a positive customer experience. At Yofi, we understand these challenges and offer solutions to help retailers navigate this complex landscape. #returns #retail #ecommerce
The True and Hidden Costs of Product Returns - Yofi Blog!
yofi.ai
-
Tackling returns has always been a challenge for retailers, but with bots now facilitating the process, it has never been easier than ever to make returns for legitimate customers. However, this also opens the door for increased return abuse, as bad actors integrate generative AI and other innovative technologies into their exploitative practices. Retailers must innovate to protect their customer experience and profitability!
Exciting times ahead! The future of digital commerce and interaction is evolving at an unprecedented pace. Soon, the dominant form of communication will be bot-to-bot. This transformation will benefit both customers and retailers by streamlining interactions, handling tedious tasks, and making our lives more efficient. However, this new era also presents unique challenges. Traditional bot detection methods and perceptions become less effective because bad cannot predominantly be associated with bad actors. Businesses must dive deeper to understand the "intentionality" behind each interaction. This isn't just about identifying threats; it's about recognizing opportunities where what might seem like grey area abuses— like those from bots or resellers— could benefit your business. At Yofi, we've pioneered the concept of a customer intentionality platform. Why? Because knowing the intention behind an action is key to unlocking true customer value and safeguarding against risks, instead of using broad generalizations. With the growth of AI agents, it is critical to discern intentions to determine whether someone is a genuine customer or a bad actor exploiting your business and return policies. We are already observing bad actors leveraging bots and generative AI to manipulate return, loyalty, and other customer-friendly policies. Let's embrace the future with a deeper understanding of intentionality, making every digital interaction more meaningful and secure. #generativeAI #gemini #fraud
-
As the convenience of food delivery grows, so does the challenge of refund scams. Unwarranted refund claims are not just a financial hit—they're undermining the trust between restaurants, delivery services, and genuine customers. Restaurant owners are sharing their struggles with bad actors exploiting the system, it's clear: the integrity of food service delivery is at stake. We dive into the real impact of these scams and explore the dilemma for restaurants relying heavily on delivery services.
Eating Away Profits: The Rise of Refund Scams and Its Impact on Restaurants - Yofi Blog!
yofi.ai
-
We're #hiring a new Data Scientist in Greater São Paulo Area. Apply today or share this post with your network.
-
We are thrilled to be part of the incredible New York Fashion Tech Lab 2024 cohort! We are lucky to be working with incredible startups, mentors, and enterprises.
✨Meet the 2024 Lab Companies!✨ 👗Raspberry AI - Cheryl Liu 🌍Fairly Made® -Agathe Roussel Laure Betsch Camille Le Gal 📸 Flock AI Manvitha Mallela Malavika Reddy 📱Nectar AI Misbah U. Farah U. 🛍️ Curated For You Mary Brendza Katy Aucoin 📦 Yofi Alex Shamir https://lnkd.in/gd_6YxkR
-
-
During the 2023 Holiday Season, the National Retail Federation estimated 16.5% of total returns were fraudulent, leading to $24.5 billion in losses. Traditional approaches of tightening return policies and manual reviews, the traditional return abuse mitigation strategy often harms the honest majority and jeopardizes customer loyalty. We are excited to announce Yofi Dynamic Returns, an innovative approach to tackle return abuse without compromising the customer experience. Our real-time detection and clustering technology maps all associated identities into a single cluster with statistics and explanations of intentionality, enabling customers to create customized policies for abusers on their return platforms by applying a tag within the Yofi Portal: In-Store Returns Only: saving $100,000s monthly on shipping costs by forcing select return abusers to return in-store for a Multibillion Apparel Brand. Issue Only Store Credit: keeping 2% of revenue within the brand ecosystem for a Streetwear Retailer by allowing store credit only for bad actors. Rejecting Returns from Known Serial Abusers: prevent return abusers that have fraudulently claimed item not received, stolen, or sent back packages with rocks or counterfeit items for a Fast Fashion Brand. Check out our blog in the comments for more details about Dynamic Returns! #ecommerce #returns #shoptalk2024
-
Huge scandal brewing amongst the Los Angeles Golfing Community! Los Angeles Public Golf courses are notorious for never having tee times available, leaving golfers frustrated. Dave Finks exposes a network using bots to monopolize and resell premium golf tee times, revealing the hidden side of tee time accessibility. Dive into the full story below! #golf #reseller
Who booked all the golf tee times? The Los Angeles Tee Time Scandal - Yofi Blog!
yofi.ai
-
Thanks to Solveig Godeluck and Les Echos for highlighting Yofi as one of the companies helping retailers tackle the massive issue of returns! We see that ~1% of total customers contribute 15% of total returns, with many of these individuals abusing generous return policies. Retailers need help with the dilemma of providing customer-friendly policies, including free returns, while also managing the financial and logistical challenges of high return rates. This is where Yofi comes in - our real-time detection helps retailers create dynamic policies to prevent retail abusers by focusing on understanding customer intentionality and segmenting bad actors. Let us know if you want to learn to reduce your return rate by 8% overnight! #returns #retailshrinkage #nrf2024
Le consommateur américain, cet infatigable dépensier
lesechos.fr