“51% of online shoppers say that they avoid retailers with a strict return policy.”
Returns are a real issue for B2B eCommerce. Many online shops deal with more returns than a brick-and-mortar shop. Since profits are thin, this could have a negative impact if not handled well. Master your return processing by following these 3 steps:
- Build your return policy
The benefits of having a visible, easy-to-understand return policy include increased conversions and purchases, encourages repeat purchases, lowers cost of customer acquisition and increases a customer’s lifetime value.
- Communicate your return policy
The key to communicating your return policy is integrating it throughout your customer’s journey. Many innovative businesses have recognized that a customer-centric return policy is more than a customer service tool, instead, if used well, it becomes a powerful marketing tool.
- Automate your returns
Reverse logistics can become a pain point for any eCommerce business. Businesses need to account for the cost of restocking/discarding the items being sent back to a vendor, as well as the human labor that goes into these operations. Returns will become much simpler if you consider automating parts or some of the manual processes. Establishing a standard process for the handling of returns truly helps streamline your business.