Retailers have spent countless dollars researching and developing the most efficient way to get an online shopper through the checkout process. The results have yielded reduced cart abandonment rates and higher conversions. But what about the reverse funnel? What about when a shopper has to return an item they purchased? This is where it gets tricky at many online stores.
The people have spoken. They want a return process that’s just as easy as the purchasing process. The after-buying experience should be as convenient as the buying experience. Wise retailers to the likes of Amazon, and its subsidiary shoe store, Zappos, as well as premier retailers like Nordstrom’s, have heeded the call.
So why are other retailers not getting on board? With just a few proposed changes, returns wouldn’t be a hassle for anyone, and profits would soar.
Consumers are wary of having to make a return. Since online shopping is unlike a brick and mortar store, they can’t touch the item or see it in person before clicking the “buy” button. They also don’t want to worry about it being a difficult process to return the product afterwards.
Most consumers take the time to read the return policy of an online store before they even consider making the purchase. A ComScore study that was conducted on behalf of UPS in 2014 found that more than 60% of shoppers actually read your return policy before completing a sale, and that the return policy ultimately influences 80% of the sale. Still, many retailers are not paying attention to these innate facts.
The truth is that brick and mortar stores have the advantage with a return policy. A consumer need only stop in at any of the franchise stores and visit the Customer Service counter to return a product that didn’t work out for them.
For a majority of consumers, this is a much easier process than having to package an item, request an RMA, get their return shipping label and visit a drop-off location to send the package back.
What’s more, e-commerce returns can take time to process, due to return shipping periods and returns processing on the retailer’s end. This also means that customers are left waiting for the return to credit back to their payment accounts, which creates another source of frustration.
The most baffling part of this equation is that emerging studies are finding that sales, customer loyalty, long term retention and word-of-mouth drastically improve when a hassle-free returns policy is in place.
Currently, there are only a few options for retailers seeking to integrate a product returns system into their online store. Amazon marketplace sellers immediately benefit from Amazon’s Return Center, which fully automates returns. Similarly, eBay retailers also have a way to offer them via Returns on eBay.
But what other solutions exist for retailers that are selling outside of these popular sales channels? Newer solutions like ReadyReturns automates product returns, with direct integrations offered for most shopping carts. Certain shopping carts also feature returns apps, like Shopify, which lists several options in their App Store.
Depending on which sales channels you’re selling on, likely there is an automated returns solution that you could be offering.
Courtesy of HuffingtonPost
