For every $1 billion in sales, the average retailer incurs $166 million in merchandise returns.
As you prepare your business for the year ahead, ask yourself—are you accounting for returns? Or are you about to leave up to 17% of revenue hanging in the balance?
The best retailers know how to transform returns into a tool that cuts costs, drives growth, and even makes for happier customers. The secret is knowing how to do it.
In Optoro’s guide to “The Anatomy of Great Retail Returns” we break down:
|The elements of a great returns process (for both you and your customers)|
|How to retain revenue from returns|
|How to create a returns experience shoppers actually like|
|How to use returns to boost your bottom line|
Download the guide now!
F R E E E X C E R P T
“It's no secret that customers' returns expectations are at an all time high. Especially in e-commerce, where returns rates are 3-5x higher than those of brick-and-mortar stores, customers are picky about where they shop and, of equal importance, return. Retailers that offer a "good" process get rewarded, with 38% of people reporting purchasing more from retailers they often make returns with. Yet, 89% of consumers stated being unlikely to shop again after a "bad" returns experience, meaning retailers who step out of line could face serious attrition issues.
So, how can retailers make returns, dare we say it, almost enjoyable for customers? By offering features that address cost, convenience, and control.