Half of wealthy Gen Zers and millennials admit to ‘digital shoplifting,’ rationalizing it with inflation and influencer hacks

Fortune01-29

Gen Zers and millennials are duping online merchants into refunds for products they've received and are keeping. The practice is called digital shoplifting, and the consequences for it are slim—except...

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The practice is called digital shoplifting, and the consequences for it are slim—except...</p>\n\n<a href=\"https://finance.yahoo.com/news/half-wealthy-gen-zers-millennials-064100038.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Half of wealthy Gen Zers and millennials admit to ‘digital shoplifting,’ rationalizing it with inflation and influencer hacks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHalf of wealthy Gen Zers and millennials admit to ‘digital shoplifting,’ rationalizing it with inflation and influencer hacks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-01-29 14:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/half-wealthy-gen-zers-millennials-064100038.html><strong>Fortune</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Gen Zers and millennials are duping online merchants into refunds for products they've received and are keeping. The practice is called digital shoplifting, and the consequences for it are slim—except...</p>\n\n<a href=\"https://finance.yahoo.com/news/half-wealthy-gen-zers-millennials-064100038.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4097","symbol_name":"系统软件","start_time":0,"source_url":"https://finance.yahoo.com/news/half-wealthy-gen-zers-millennials-064100038.html","article_id":"2507688095","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2507688095","pubTimestamp":1738132860,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Gen Zers and millennials are duping online merchants into refunds for products they've received and are keeping. The practice is called digital shoplifting, and the consequences for it are slim—except for merchants who lose 3.75 times the transaction cost every time it happens.For many Americans, it feels almost too easy to dupe retailers into getting their money back for online purchases they’ve made. Say you’ve bought that new expensive sweater or a pair of headphones, but you don’t want to shoulder the cost. You just submit a claim to the retailer that you never received the package or you didn’t order it in the first place.But that’s called digital shoplifting—and about half of Gen Zers and millennials who earn more than $100,000 per year admit to doing so in the past year, according to Socure. 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The practice is called digital shoplifting, and the consequences for it are slim—except for merchants who lose 3.75 times the transaction cost every time it happens.\n\nFor many Americans, it feels almost too easy to dupe retailers into getting their money back for online purchases they’ve made. Say you’ve bought that new expensive sweater or a pair of headphones, but you don’t want to shoulder the cost. You just submit a claim to the retailer that you never received the package or you didn’t order it in the first place. \nBut that’s called digital shoplifting—and about half of Gen Zers and millennials who earn more than $100,000 per year admit to doing so in the past year, according to Socure. The antifraud tech company surveyed 2,000 Americans between Dec. 6 and Dec. 13, 2024 and found digital shoplifting is more rampant than most people knew.\nAs for the connection between wealthier shoppers and a higher propensity to commit digital shoplifting, Socure’s head of product management for fraud and identity solutions, Ori Snir, told Fortune he suspects “there might be a link between those who better understand bank and merchant obligations to those that are taking advantage of them.”\nDigital shoplifting can include claiming a package was never delivered or was stolen, disputing credit card charges made by the merchant, or saying the product was never intentionally bought in the first place. Shoppers justify these actions with struggles against inflation, seeing “hacks” from social media influencers on how to get money back for purchases, and the perceived leniency of merchants to issue refunds. \nOne TikTok influencer with nearly 3 million followers detailed how to get refunded for an Amazon Prime purchase claiming the order was delayed. \n“I know your chat support is way more lenient when it comes to helping customers,” @faaresq said in the video, and showed a chat with an Amazon agent issuing a refund for the item. “And 99% of the time when the package arrives, they won’t even ask you to send it back.”\n\nAlthough young, wealthy Americans were the most likely perpetrators, people across all generations admitted to “first-party fraud,” or when consumers dispute charges with their credit card company and merchant in order to get the money back for a product they actually bought and received. \nDigital shoplifting is likely rampant because there aren’t severe consequences for those who commit it, Snir said. \n“The best-case scenario is that the person goes unpunished and gets away with it entirely, which often leads them to do it again,” Snir said. “Another potential outcome is that their dispute gets denied and they ultimately still have to pay for their purchase.”\nThe worst-case scenario is a customer having their account locked and blocked, preventing them from making purchases with that merchant again, Snir said.\nHow digital shoplifting hurts merchants\nSeveral Reddit forums also detail customers scheming to file for a chargeback (essentially a refund issued by the merchant and credit card company) even after receiving the product. One Reddit user said a customer had received the product, but filed for a chargeback anyways. The customer even admitted to the merchant it was wrong that they did it, but continued the chargeback process anyway. \n“I sent the humble request and even begging to her [to cancel the chargeback],” the Reddit user wrote. “The money is little to her, but [it’s worth] a week's lunch to me. What's more, I was very afraid of the potential impact to my store. I tried to appeal to PayPal, but the case is closed.”\nWhat’s more is chargebacks cost retailers 3.75 times the actual transaction value in lost revenue and merchandise, chargeback fees, higher overhead costs, and damaged relationships with card networks, according to a study from Chargebacks911 and business consultancy The Strawhecker Group.\nSnir suggests merchants step up verification on risky transactions and collect more information about customers to prevent digital shoplifting.\n“Fight back,” Snir said. “Gain evidence that the consumers themselves are making the purchase by collecting further information and use that to deny claims or chargebacks. Doing so will help to prove that these purchases are legitimate.”\nThis story was originally featured on Fortune.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.30.2","shortVersion":"4.30.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2507688095"}