The Perils and Promise of Omni-Channel Returns
May 20, 2015 Topics: Announcements, NewsAs online sales grow, so does the volume of returns grow…so much so that the total volume of returns is now greater that the total volume of e-commerce orders! How retailers deal with returns has a significant impact on their customer experience and retention, as well as their overall margin and economics. Key metrics for world class returns processing focus on:
- Speed of product exchange or credit issuance
- Ease of return for customer, whether in-store or by parcel carrier, at the customer’s choosing
- Cost effectiveness of transportation, processing, and margin preservation
Customers that return product “spend more money and buy more stuff.” They have a strong preference to be able to return their purchases to a store, which creates great opportunity for retailers to please their customers and capture additional sales. Retailers that have well designed and well executed returns processes find tremendous benefits in customer satisfaction and retention, reduced markdowns and reduced operating costs.
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