When customers send products back, that’s a hit to the bottom line. But only in the short term. For long term success, claims a new white paper from TrueShip, easy online return systems are the way to go.
“Current estimates show that about one-third of all products that are purchased online are returned,” a provided statement from TrueShip reads. “E-retailers need to be cautious about how they approach their returns policy because a forward-thinking and progressive, hassle-free and cost-free policy is preferred by consumers, but often is shied away from by retailers, namely due to worrying about the impact it can have on their bottom line.”
But what really works?
TrueShip has taken an in-depth look at online product returns, demonstrating that offering the same return policies as large marketplaces like Amazon or leading retailers like Zappos can actually improve long term profits in the form of increased customer loyalty and improved retention, not to mention more sales and word-of-mouth advertising.
“As the ecommerce world expands, retailers are going to have to accommodate for the fact that consumers want online returns to be as simple and as straightforward as brick and mortar returns are,” explained Michael Lazar, Director of Online Marketing at TrueShip. “Our newest white paper helps these retailers better understand that they truly have everything to gain by getting on board with an automated and convenient online product returns system.”
Want to know more? You can read the white paper here.