One major complex struggle in e-commerce is managing returns, especially when running a large online store. Generally, approximately 30% of all items ordered online are usually returned.
While some retailers resort to making the return process hectic to compel the buyers to avoid returning the product, a popular survey showed that more than 90% of customers would most likely buy again if the returns process was easy. To ensure customers are coming back, it’s essential to have some of the best management practices in place, as outlined below.
Analyzing the Returns
In cases where a product was returned, retailers have the opportunity to learn something from their customers. They typically analyze which items were returned and the reason they were returned. This tells you more about the satisfaction with your inventory and how to handle it.
A customer forum can help you spot areas requiring improvements and those you need to maintain to satisfy customers. Aggregating and breaking down your customers’ feedback into specific variables can help pinpoint the main cause of returns.
By accessing customers feedback, you can minimize return later on by emailing the new customers previous positive reviews of that product; this will instill confidence in them about their product and subconsciously increase their own satisfaction (hence less returns).
Provision of Visibility Into the Returns Through Tracking
Most online stores are quite transparent about the logistics of their customers ‘ purchases, i.e., packing, transit, and when to expect the item’s arrival. The same should also apply to the return policy, letting the consumers know the return status of their items.
Essentially, visibility is a crucial element in providing the customers with information such as tracking information, etc. Moreover, you can use an automatic text alert to let them know when to receive their refunds after the return shipment process is complete.
Making the Returns Convenient
Notably, returns management is rapidly becoming an essential aspect of the e-commerce world, especially for the success of your retail business. Here convenience means a courier showing up at the consumer’s doorstep for the return of the item rather than the traditional style in which a consumer had to visit the physical store to return the product. Since modern customers understand the language of convenience, implementing solutions such as online return portals can be really handy in streamlining the whole process.
Making the Process Affordable
Customers tend to shy away from retailers who don’t provide free return services. However, if the customers know they won’t incur any losses during the process, they’ll also develop the confidence to spend more on other products. This is one significant returns management practice to ensure more consumers gravitate to your products. And if you can’t make the returns free, then keep the costs as low as possible.
Making the Process Faster with Automation
The faster the customers can make their returns (and get their refunds) the more satisfied they’ll be, which increases the chances of making future purchases. One of the best ways to speed up your returns is by automating the simple tasks, such as matching your return policy, or sending pickup orders. By adding returns automation, you save your company time, money, and increase customer satisfaction.
Conclusion
Applying these top returns management practices can help your business succeed in the e-commerce space. To learn more about adding returns automation to enhance your company’s return practices, contact Elite EXTRA today!
Sources
https://www.forbes.com/sites/stevebanker/2021/01/27/the-changing-nature-of-returns-management/?sh=4d1258b32f4e
