A nightmare … that’s what most online retailers will tell you about the returns process. They mistakenly think it’s a nightmare because it supposedly costs them time and money. Customers return packages that have to be restocked. The return shipping eats into their bottom line and so forth. But we’re about to change all that.
This is because returns are no longer a nightmare for e-retailers. When you take a good, long look at them, which we will briefly do here in a moment, you will quickly realize that online retail returns that are made convenient and hassle-free are actually money makers that help drive more sales and improve retention. What follows are several valid reasons why.
When consumers buy products online, they want the experience to be more convenient than a local buying one is. But, if they have to return an item online it almost never is. In fact, it can be quite bothersome. But, when retailers make online retail return as simple as the buying experience, they create an after buying experience, so says a related white paper. What this process does is ensure the more customers shop online because all aspects of it are now easier than shopping locally.
Here’s another important point. The most loyal customers will return more items. Since they are buying more, they will return more. Given that studies show that about one-third of all products purchased online are returned, it makes sense to cater to loyal shoppers and instill confidence in them by assuring that online retail returns won’t be difficult.
What’s more, hassle-free online retail returns actually can make stores money in the long run. New studies have found that stores that offer hassle-free online retail returns increase profits dramatically over a two year period. One study showed a spike in spending by as much as $2,000 or more per consumer over just 24 months when the right returns policy was in place.
Never forget the importance of the after buying experience. By assuring customers that it will be just as quick and easy to return items as it will to buy them, your store will actually do more sales in the long run, a lot more. Something as seemingly simple as your return policy could be the hidden money maker that you’ve been seeking all along.