The drivers/demands/behaviours changing this area of retail
89% of consumers say that ease of returns is a top priority when purchasing online and the returns process should be easy and convenient. 61% say they would be more likely to exchange a product bought online than get a refund if exchanging was made simpler.
The current state
Visibility of a simple returns process is part of the initial purchasing decision for some customers and has been shown to reduce basket abandonment. Internally, the returns and refund process needs to be streamlined in order to refund customers swiftly and get the returned items back on sale.
Implications
- Quick and efficient service for customers
- Fast turnaround of stock so available for sale
- Store returns result in incremental sales
- Ability to offer exchanges rather than refund and repurchase ensure the sale is retained
Discussion points in the podcast
What impact does including a returns label have on the number of returns and is paperless the future?
What impact does the length of time that returns can be made have on returns – and on sales?
How to tackle serial returners, wardrobing and staging.
How to handle the influx of post-Black Friday returns.
Will inflation make consumers look closer at delivery and returns costs?
Click here to listen on Apple Podcasts
Click here to listen on Spotify
Information:
Behind the microphones
Ricky Wilson, VP Global eCommerce & Digital Operations at Pandora: https://www.linkedin.com/in/rickydwilson/
Steven Irwin, Director at Wolverine Worldwide:
https://www.linkedin.com/in/irwinsteven/
Katie Searles, Editor of DeliveryX:
https://www.linkedin.com/in/katie-searles-522451132/
Chris Hoskin, Regional Director of Marketing, EMEA at Narvar:
https://www.linkedin.com/in/chrishoskin/
Ian Jindal, CEO RetailX:
https://www.linkedin.com/in/ianjindal/
