Evolving customer expectations have forced retailers to work out a way to better manage the ripple effects that the present global crisis has created. This includes the realm of returns. Let’s check out a number of trends that 2020 has seen so far:
Extended return windows
Many retailers have instituted extended return periods that transcend the typical 30-day window for patrons.
Increased returns
With physical stores closed, eCommerce is constantly increasing. But with this shift, comes increased returns, as customers aren't sure what they’re buying online is going to be the proper size and fit or not.
Not accepting returns
Within the face of health concerns around coronavirus lingering on surfaces for extended periods of time, some retailers have stopped accepting product returns.
But these trends aren’t the sole thing on brands’ minds when it involves returns management. There’s also the difficulty of handling returned items post-pandemic: Can they be resold? If nothing else, handling returned items will accompany extra precautions and consumer concerns with worries surrounding the virus’s endurance.
Retailers got to get strategic about how they handle returns moving forward so it doesn’t eat away at their margins, customer experience, and sustainability for the long-term.
7 ways to avoid returns -
Sell the proper item
One major step that eliminates a possible return is to form sure you sell the proper item to the proper customer. For successful implementation, you can provide size charts, past purchasing history, plus data-driven technology that decodes individual fit, size, and style.
Save the sale
The ‘save the sale’ method is vital for businesses who are looking to catch up on returns through a loyalty incentive.
Smart returns
It is an easy tactic of “click and collect”, but extended to “click and return.” Smart returns would require a connected network of inventory visibility, also as predicted demand. The thought is that a shipping label might be printed and/or a customer instructed on where to travel in real-time as a return is being processed.
Predict returns
Data plays an important role when it involves predicting returns. Specifically, data that tracks the rationale for a return: whether it’s done directly (item was damaged, didn’t fit, wasn’t as pictured, etc.) or learned through predictive analytics.
Empower your brand to research purchasing and returns data to accurately predict the likelihood of a return supported factors such as:
Duplication
Two of the equivalent items, but two different sizes included during a single order. The downstream effect of this is often to more accurately disclose whether a product runs big/small to further enable customer satisfaction.
Cart size
The average number of things in order—especially if they belong to an equivalent category.
Timing
For instance, if the shipment was delayed and therefore the Halloween costume was not needed.
Buy online, devour (or return) in-store
Retailers can give shoppers greater flexibility by allowing them to get online then devour in-store. While they’re there to select up, they will test or try products they’ve ordered and make an exchange if needed. This also provides a chance for sales associates to cross-sell or up-sell other products during the visit.
Virtual or personal shopping
Whether it’s a virtual showcase of the latest items for your most loyal customers or enabling sales associates to line aside items for shoppers supported by their past purchase history, these tech-enabled shopping solutions should help lower the danger of returns.
Virtual shopping also can be a context-rich sort of customer engagement where shoppers see products on an actual person in real-time.
Augmented Reality (AR) tools
Help shoppers visualize how the merchandise will actually appear with images using AR. For a furniture retailer, this might mean building 3D models of products so shoppers can upload an image and see what a product will appear in their space. This helps hamper on returns associated with product sizing, color combinations, and a spread of other variables which will only come from seeing the merchandise in its intended, personalized context.
From predicting returns to saving the sale and beyond, the strategies covered above can help brands hamper on returned items and protect their bottom lines. Regardless of what route you opt to travel, remember, the customer experience should remain a top priority.
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