Ensure your delivery and returns experience is ready for peak season
Here's how to reduce the cost of returns while laying the foundation for a seamless delivery and returns process.
On average, return rates hover around 16%--a healthy rate for e-commerce businesses. However, during peak season (Black Friday, Cyber Monday, or holiday season sales), your business needs to deal with a sharp spike in returns. It’s business as usual, but there’s no reason why your business needs to suffer for it.
Here’s a quick reality check. 58% of your customers buy with the intent to return. It could be to try out your products or to have a safety net for surprise gifts.
Regardless of the reason, returns will always happen and will always cost you money. What you can control, however, is how much it costs your business.
Here are some steps you can take to ensure not only reduce the cost of returns to the bare minimum but also lay the foundation for a seamless delivery and returns process.
Improve logistics tracking: Data-driven delivery and returns tracking technology can provide your business with valuable returns data, allowing you to identify trends and make changes to improve the returns process and make it more cost-efficient.
Automate the returns process: By automating the returns process through a single integrated solution, businesses can reduce the time and resources needed to manage returns, leading to higher cost savings.
Reduce errors and fraud: Tracking the returns process can help reduce fraud and errors by providing businesses with accurate and up-to-date information on the status of returns–or if they’re even on their way back to you. This can help reduce the need for manual intervention, reduce the risk of costly mistakes, and prevent returns fraud.
The first movers’ advantage with returns automation
Returns is not a new topic for e-commerce brands. Many retailers and merchants around the world offer returns and have the infrastructure to support it. That’s because offering returns is good for business, even if it does seem to increase your costs at first glance.
According to recent data from our data and research arm, Parcel Monitor, we found that many of your customers now prefer hybrid shopping.
That means they are more selective when shopping online. Almost 80% of customers deem your returns policy as the most important factor when they consider buying from your business. And 92% of these customers would buy again if the returns process is smooth.
Long story short, implementing a streamlined returns process is key to success. Especially during a time when economic pressures are growing for both businesses and consumers.
Get returns right on your first try with a delivery experience platform
Many e-commerce companies view returns (or reverse logistics) as a separate process managed by separate solutions. This approach results in multiple processes and data siloes. Here’s why your business would be better off managing both delivery and returns from a single platform.
With this approach, your customer service, logistics, and e-commerce teams are using the same logistics platform–and the same real-time tracking data. That allows them to coordinate among themselves and orchestrate a truly seamless returns process.
A single integrated solution also covers the entire post-checkout journey–from the moment the order is made to unboxing–and, more importantly, the entire returns process.
Customers can easily be kept updated on the status of their returns with email or SMS notifications at each milestone–which means your customer service teams don’t get flooded with “Where is my returns/refund” calls.
When you have a tracking widget, this process can even be made self-service. Customers can simply keep track of the entire delivery and returns journey on your website on their own.
Elevate your returns experience today
As returns become more important for businesses, it is crucial to ensure it is as seamless and cost-effective as possible. Learn more about the Perform.AI approach to Returns here, and find out how we can help you preserve your margins, and help your e-commerce business thrive. Speak to our sales team today.
