As a retailer, you know that returns are a part of your business. However, knowing some facts may help you deal better with these unexpected costs.
Learn about returning policies.
The truth is that e-commerce returns tend to be quite high and we can all understand why this happens. Between wrong sizes, colors not matching expectations, the quality, and even the durability of products may lead to e-commerce returns.
7 Facts About E-Commerce Returns All Retailers Should Know
#1: Most Consumers Want Fre Return Shipping:
While you may not like it, the truth is that most customers want free return shipping. While we understand this may not always be possible especially if you owe a small e-commerce store, the truth is that customers are looking for stores that allow them to return products without paying the shipping fee.
#2: Most Returns Are Your Fault:
While this is harsh to hear, it is actually the truth. Either a lack of a good product description, not too many images to show the product in detail, the lack of a video, or even wrong sizes make almost all returns to be your fault.
To ensure that you decrease the returns number, you want to ensure that you are as accurate as you can be.
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#3: Most Shoppers Do Read Your Return Policy:
One of the things that you need to ensure that you have at plain sight on your e-commerce store is your return policy.
Customers are more demanding nowadays than ever before. Besides reading and re-reading your products’ descriptions, they will also ensure they check your return policy. This means that you want to make it extremely accurate.
#4: New Year’s Day Sees Millions Of Returns:
While you may be expecting a huge Christmas in terms of sales, you need to keep in mind that you may enter the new year with the left foot. The reality is that most e-commerce stores get millions of returns on the new year’s day.
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#5: Apparel Has The Highest Rate Of Returns:
In case you are considering opening your own e-commerce store, then you need to know that some may experience a higher rate of returns. The number one on this list is apparel.
#6: Bad Returns Mean Fewer Sales:
If you’ve ever bought something online and had to return it, only to find out that it’s very difficult to return it, how likely are you going to be to make a purchase from that online retailer again? So, if you’re selling online, that means when you make returns hard, you kill retention rates by the same percentage.
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#7: Shoppers Are Looking For Returns With No Questions Asked:
Numerous surveys and studies have been conducted over the years polling consumers about the most ideal return policy type. The response has been overwhelmingly in favor of a no-questions-asked return policy that spans at least 30 days from date of purchase. The most recent polls found that 58% of consumers want this type of policy in place from the stores they buy from online.