A clear, comprehensive ecommerce returns policy is a great preventive measure. It helps customers understand how and when they can return products, acting as insurance for them and your business. However, there are other less obvious but nevertheless influential tactics you can and should employ. Here are seven more ways you can reduce returns, protect profits and improve customer satisfaction.
Outdoor co-op REI, high-end outdoor apparel/gear brand Arc’teryx, fashion brand Amour Vert, running supplier On and luxury brand Philip Lim stood out in the first recommerce leaders index compiled by Trove, as the growing category has added an estimated 100 programs in the past year.
Carhartt, a retailer of workwear apparel, has launched the first recommerce channel in its category, aiming to drive incremental revenue and attract consumers who hadn’t purchased from the company before, taking advantage of a burgeoning market favored by younger values-based shoppers.
A survey from shipping software provider Shippo showed that communication of average ecommerce shipping time is one of the top two things consumers want to see on a product or checkout page. Yet less than half of merchants provide that information to shoppers.
While ecommerce returns continue to soar and cost retailers both in terms of actual dollars and the bad customer experience, there are practical ways to reduce the rate, make the process more efficient and leverage the customer opportunity, attendees were told at the NRF 2023 Big Show in New York.
How are you leveraging your WMS KPIs? The answer can dictate your level of success in ecommerce and direct-to-consumer (DTC) fulfillment operations performance. The post-holiday peak period is the right time to assess your data and KPIs to help you measure performance and the bottom-line impact of process changes.
Taking advantage of a growing preference for boxless returns, FedEx is rolling out a consolidated returns program early this year aimed at providing the service for small-to-medium-sized merchants in addition to major retailers. While FedEx has a relationship with Happy Returns, it provides all the logistics for this new offering.
The rate of returns from retail purchases is expected to remain relatively flat this year compared to 2021, at 16.5%, with store and ecommerce returns roughly equal as the latter figure has improved, according to a report from the National Retail Federation and Apriss Retail.
FloorFound has expanded its nationwide recommerce network, including five facilities totaling 500,000 square feet of space and business intelligence software that helps retailers determine the best channel for maximizing resale value, plus an integration with project44’s supply chain platform.
While not ideal, ecommerce returns are an inevitable part of business. But your job is to see them as an opportunity to turn problems into positive brand experiences. And the gains from retaining a customer for life far outweigh the cost of a single refund. See them as not just an expense, but as opportunities for positive customer experiences.