A European success story, Smyths Toys has grown online sales by 100 percent since 2016 while keeping fraud down to less than 0.1 percent of turnover.
As in other parts of the retail sector, toy and gaming sales growth is being driven through online channels. Smyths Toys, based in Ireland, is Europe's largest retailer of toys, digital games, and gaming consoles—and a standout example of exceptional online growth.
Online sales up by 100 percent
Smyths Toys exceptional growth extends from its efforts to keep pace with customers’ expectations. The company makes shopping and payment easy and offers customers plenty of choice—including pre-ordering, click and collect, digital downloads, and home delivery.
As online sales accelerate and payment options become more complex, there's always the risk that online fraud will follow suit. Fortunately, Smyths Toys has managed to grow rapidly without compromising security and leaving itself vulnerable. In fact, its kept fraud down to less than 0.1 percent of turnover.
What's even more impressive is that Smyths Toys accomplished this low rate of fraud while pursuing a successful expansion strategy across Europe. Today, you can shop at Smyths Toys online or in stores across Austria, Germany, Ireland, Switzerland, and the U.K.
Aware that fraud trends often vary from country to country, Smyths Toys could expand with confidence knowing that its fraud screening solution would help it get up and running in new locations quickly and securely.
Keeping fraud out, letting more good orders in
Since 2016, Smyths Toys has used Cybersource Decision Manager to help protect against fraud while enabling more good orders. Building on Decision Manager's powerful machine learning capability, Smyths Toys also:
- Integrates data from third-party services to provide an extra layer of real-time protection.
- Benefits from a dedicated Cybersource risk analyst, who adapts Decision Manager's rules to help protect against new fraud risks as soon as they're identified.
"Cybersource has enabled us to grow the business in terms of value and in terms of the complexity of our sales," says Mark Dinkin, Head of Finance at Smyths Toys. "At the same time, we’ve reduced fraud as a percentage of sales over the last three years."
Learn more about how Smyths Toys grows online sales without growing fraud.