86% of consumers worldwide prefer retailers with easy return policies when making purchase decisions, as per Statista.
Retailers should evaluate their return policies to lower return rates, maintain consumer satisfaction and build loyalty. Rather than focusing on processing the return transaction, retailers must prioritise retaining consumers by providing great return experiences.
Brands must avoid altering their return policies in a way that benefits them rather than consumers, as this may drop sales. Instead of asking “What can we do to reduce our rate of returns?”, retailers must ask “How can we get consumers to keep more of their purchases?” to discover consumer-friendly solutions.
Further, retailers must analyse the number of products returned versus the whole order to improve customer satisfaction levels and decrease return rates. Crafting a return policy with great customer experience (CX) can help brands build loyalty and retain consumers.
[5 minute read]