Online Marketplaces Leverage Technology to Tackle Fake Products
Selling a product online allows businesses to reach a wider audience and new customers. Companies have started leveraging technology to reduce the rate of return of products faced by online marketplaces, reports Payal Ganguly for ET Bureau. Online marketplace Luxepolis is venturing into the trend by utilizing Radio Frequency Identification (RFID) technology to tackle the problem of returns. Luxepolis sells products ranging from designer apparel to high-end automobiles. The company uses near-field communication (NFC) enabled tag and reader to decipher codes that are unique to every product in order to validate the returned item.
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