As online purchases have increased, so have the number of returns. It is estimated that 30-35% of all products that are ordered online will be returned by customers. Processing these returns more quickly, accurately, and efficiently is what every retailer is looking for, and for good reason: it is an easy way to not only increase customer satisfaction but to rein in costs.
Flexible management tools such as Marello can help synchronize and control how products move between distribution centers, shops, and customers by putting in place an efficient returns stream so that returned products are available for sale again as quickly as possible.
Handling returns is not the most popular subject in retailing. Processing and managing returns costs a lot of time and money. Nonetheless, as one in three items get returned it is inevitable to accept it as a part of daily business.
Dealing with return and refund management is a daily business for many online retailers. Many stores offer cheap or free return policies in order to attract customers. It is a successful strategy that has become very popular as it has proven to increase sales. Yet having these policies also means that many products do indeed get returned. Handling returns result in increased expenses such as costs for return shipping, restocking and inventory management. Nonetheless, returns do not necessarily mean trouble: they can also be seen as a chance to improve retailing.
With Marello, it is easy to learn why products get returned. By collecting return reasons it becomes clear why some products get returned more often than others. As 35% of all returns do not have standard reasons to be returned it can be very useful to know the exact reasons. By knowing why items get returned strategies can be altered to lower return rates and the costs accompanying them.
A second opportunity is to be found in logistics. Returns should be processed as quickly as possible in order to make them available for sale again. There are a couple of components that contribute to the return process. Returns have to be registered, examined, prepared and go back into the inventory. Also, customers may have to be refunded or their order has to be replaced or repaired and reshipped.
Recording all the individual steps can be time-consuming and it is easy to lose track. Marello’s workflows make it easy to manage returns. By setting up return and refund workflows processes can be handled more efficiently and effectively.
Next to improving processes and reducing costs, having a solid return and refund workflow also means having satisfied customers. Customers want to be able to return products and get their refunds without having to think about it. Positive customer experiences will lead to more sales as 92% of customers will buy again if returns were easy.
In order to ensure a positive return and refund experience, information about customers is to be found in one place. Details about individual orders and returns are easy to find. Activities are recorded in one place; such ordered items, refunded items, and email conversations.