Many innovative businesses have recognized that a customer-centric return policy is a powerful marketing tool.Īccording to Pitney Bowes, 54% of buyers are unlikely to buy a product they want if the retailer has a poor or unclear return policy. Read Guide The advantages of a customer-centric return policy
COCOSPACE RETURN POLICY HOW TO
At some point, most businesses will need to figure out a solution for returns that benefits themselves and their customers.Įcommerce Shipping and Fulfillment: A complete guideįrom setting up your shipping strategy to deciding what packaging to use to learning how to reduce shipping costs, this comprehensive guide will walk you step-by-step through the entire process. If the time and expense to process a return isn’t monitored and optimized, it can even prevent you from scaling your business. Processing every return manually and dealing with customers on a case-by-case basis can also be expensive for your business operations and exhausting for customer service staff. If bad sentiment about the buying experience starts to spread online, it is likely you will see a drop in conversion rate. This is where a poorly implemented returns system starts to negatively affect your overall reputation as a business. Over time, however, customer complaints about your return policy can start to filter onto social media, showing up as comments under your ads or even in Google searches about your business. Refunding a customer’s order can result in a loss of profitability, and knowing that someone disliked your product can be disheartening for business owners who strongly believe in the benefits of what they sell.įor these reasons, it can be tempting to ignore the reality of returns and exchanges and leave the mounting problem unaddressed.Īs you'll see, doing this would be a mistake. Still, getting a return request can be painful both financially and emotionally. In fact, offering a clear and consistent way for customers to return a purchased item can increase conversion and repeat rates.
Why have a return policy?Ī fair return policy builds trust between a business and its customers. A return policy tells customers what items can be returned and for what reasons, as well as the timeframe over which returns are accepted. Return policies are the rules a retailer creates to manage how customers return and exchange unwanted merchandise they purchased.
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How to write a return policy (+ free return policy template).With a great return policy and the right system in place, returns can be transformed from a dreaded aspect of commerce into an opportunity that actually generates new profits for your business and increases customer loyalty.īut before we dive into how to write a return policy for your store and implement a system to handle requests, let’s talk about why it’s so important to get returns right. The good news is that it’s never too late to address the problem. Without a proper system for handling returns, these requests can eat up a lot of time, energy, and money with hours spent on customer service emails and spikes in shipping expenses for replacement products, especially after the holidays. This practice is known as bracketing and has become a more common practice since the pandemic. For example, a customer might buy multiple sizes of the same pair of pants and use their home as a “change room” to determine the right fit. Many buyers will also purchase multiple versions of the same item, knowing it will be returned. So they ask for a replacement or for their money back. Deloitte estimates that with a product return rate of 30 percent, that by 2022, retailers can expect 13 billion units, worth $573 billion, to be returned annually.Ĭustomers might be unsatisfied with their order for a number of reasons-it arrived damaged, they ordered the wrong size, or it simply didn't meet their expectations. Returns and refunds are a part of doing business online.
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