Returns, The Holidays & Customer Mindset – Here’s Your Scoop on 2021
Once again the holiday season is upon us. As an eCommerce business this time of year is certainly your busiest. Having a no-hassle, easily accessible and quick return policy that customers can initiate themselves will ensure that your customers keep coming back well after their initial holiday purchase. We’ll go over some facts that every online retailer should know concerning returns and how an eCommerce shipping software solution can help.
Return Facts Retailers Should Know
Customers expect returns to be easy. Imagine yourself purchasing an item online. If you needed to return that item and discovered that the retailer you bought from had a very difficult return policy, how likely are you to buy from the same online store again? Recent statistics suggest there is an 80% chance you will not buy from that retailer again. If you’re an online eCommerce business with a difficult return policy you’re killing customer retention at the same rates. Believe it or not most customers take the time to read your return policy. In fact, according to UPS 66% of customers say they will read a return policy before making a purchase. A poorly worded policy or difficult returns process will send customer business elsewhere.
Most returns are the retailer’s fault. Common reasons for return are apparel not fitting, items arriving damaged or broken or the item was different than advertised. One thing is certain, returns happen and 80% of customers want free returns. Despite this fact only 11% of retailers offer free shipping for returns. When free shipping is offered consumers are more likely to return and make additional purchases creating brand loyalty.
Cyber Monday has taken the mantle as the largest consumer shopping day in the US. Online sales records have exploded in recent years and with the effects of the COVID-19 pandemic still being felt, consumers are most likely to do their holiday shopping online now more than ever. With record amounts of sales comes record amounts of returns emphasizing the need for a hassle-free return policy.
New Year’s Day or the Friday thereafter is the highest return day by volume for eCommerce in the US due to buyer’s remorse. This could be a leading factor as to why 58% of shoppers prefer a no-questions-asked return policy from online retailers. Policies such as these contrary to the belief that hassle-free returns result in losses contribute to consumers actually buying more. Loyal shoppers tend to be those that return items the most, but the sales will continue to pad your businesses bottom-line.
Flexibility in return policy contributes to more purchases than returns. 30-45 days to return is exactly the kind of flexibility shoppers are looking for according to a recent study. Another fact that cannot be denied about hassle-free returns is the re-conversion rate of online customers. When a customer processes a return they are also being advertised new products that they’ll be very likely to purchase.
E-commerce Shipping Software Can Help
Why does all of this matter? It’s simple. Easy returns create repeat customers and brand loyalty that will positively affect sales for your eCommerce business. An eCommerce shipping software with robust shipping capabilities can assist you in creating a return policy that customers will love taking your business to the next level. It will also give you a much needed edge against the competition. It never hurts to have an edge, right?
About the Author:- Michael Lazar is an Executive at ReadyCloud, makers of the world’s most popular ecommerce returns software. When he’s not working, he enjoys spending time with his family.