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Welcome to the world of retail returns, an expensive, cumbersome yet essential part of the industry. The number of returns is growing and managing them is critically important to maintaining margins and customer satisfaction. of all purchased goods were returned to retailers.
Bed Threads, The Iconic, and Oroton ranked ahead of other retailers in November for overall returnsexperience in the Online CX Index, Australias first and only online retailer performance platform powered by real data. A seamless returnexperience can turn a frustrating situation into an opportunity to build trust and loyalty.
Delivering a smooth and frictionless post-purchase experience should be a top priority for every retailer. According to PwC, businesses that reduce friction for consumers and empower all employees to make things right whether through returns, price adjustments or other policies bring higher customer satisfaction and more forgiveness.
Building a future-proof tech stack To survive and thrive during Black Friday, retailers must invest in tech solutions that integrate seamlessly with their current systems – inventory management, CRMs, and shipping tools. Optimising shipping with automation Shipping logistics are a make-or-break factor during Black Friday.
During the pandemic, ecommerce returns majorly impacted retailers profit margins. As customersreturn to in-store shopping, retailers are continuing to face an increase in returns from online and in-store sales. This holiday season, consumers who frequently make returns may be in for a surprise.
Retail’s busiest returns period may be in the rearview mirror until next year, but rising ecommerce order volumes have caused returns management to become an aspect of ecommerce and omnichannel business that warrants a dedicated year-round strategy. Returns are a major cost of doing retail business of any kind, but especially online.
Seeking to compete with ultra-low-price sites such as Shein and Temu , Amazon has introduced Amazon Haul , featuring maximum prices of $20 and one- to two-week shipping times. Amazon customers when they next update their Amazon Shopping app. It will be available to U.S.
Ecommerce returns are the new reality for retailers, but their rapid rise doesn’t have to crush conversion rates and profitability. Consider how returns are central to the customerexperience and can create a competitive advantage, differentiate a brand and increase customer lifetime value.
Hubbed is setting a new standard for e-commerce returns with the upcoming launch of its box-free and label-free solution across its entire Parcelpoint network. With over 2500 locations nationwide, this innovation is designed to enhance convenience and customerexperience for e-commerce returns.
It’s meant to be quite simple for a shopper, but as an ecommerce retailer, you know it’s not that easy — especially if the customer changes their mind and wants to return said magical shipment back to your shop. What happens next, by way of returnexperience, most certainly impacts whether they will purchase from your business again.
This means that it’s not enough for products to be delivered quickly – customers also want to know that if those items aren’t quite what they expected, they can be returned just as quickly and easily. According to Insider , total retail returns were projected to grow 2.2% billion in 2023 — accounting for 8.5%
Returns provide brands and retailers the opportunity to delight their customers. market saw over $400B in returns in 2020. If this dollar value were a proxy for revenues, the returns channel would be the second largest global retailer behind Walmart. That is a significant amount of capital tied up in the returns channel!
According to Gartner, more than three-quarters of supply chain leaders are being asked to improve their customerexperience (CX) strategies. A customer-centric approach to supply chain management is challenging; it requires a deep understanding of consumer expectations and behaviors, not just today but also for the foreseeable future.
To that end, 35% of survey respondents said selling on marketplaces allows them to offer faster and more cost-effective shipping. Moreover, 28% said selling through marketplaces means they dont need to put in as much logistical effort to get products to customers quickly and efficiently.
As economic pressures persist and competition increases, customer expectations for shipping and delivery grow. Shippit’s latest State of Shipping Report for 2024 offers a comprehensive look into current trends and challenges facing retailers, shedding light on how businesses can adapt and thrive in this dynamic environment.
Clean, validated address data is an essential business asset that drives a smoother customerexperience, reduces operational costs and minimizes errors. Incorrect address data leads to delivery delays, lost packages and unnecessary customer complaints all of which can damage a brands reputation.
GoodwillFinds — the online ecommerce platform of the 120 -year-old nonprofit Goodwill — has teamed up with return assurance platform Seel to better “compete with other digital resale websites” by offering returns. The return assurance allows them to make a seamless, hassle-free return within seven days.
With stores shut, customers flooded the company’s support team with questions about product fit, delivery delays and return policies. Meanwhile, the launch of a virtual sales channel – where customers can video chat with a sales assistant before making a purchase – created new pain points, even if it did drive revenue. “We
Free shipping days are behind us. The first wave of ecommerce was mostly about price, while the second wave is all about the customerexperience. Does your order fulfillment strategy live up to your customers’ expectations? Frustrated customers won’t consider shopping with you again.
North American retail and ecommerce businesses now lose a total of $3 for every dollar of fraud they experience, and as mentioned earlier, most customers wont return to a site after a fraud experience. Shipping and Beyond Unfortunately, the security and fraud risks continue after orders are approved.
Although public health officials say it’s unlikely COVID-19 infections can be spread by surfaces or physical objects, retailers are being cautious about how they handle returned merchandise. They are instituting disinfection processes and quarantine periods that keep those items from returning to stock for a varying number of days.
As a result, many retailers are seeking to scale up their selection through models like drop ship and marketplace. But while these approaches can help reduce the supply chain costs of stocking and shipping millions of single items, they also have many retailers questioning their roles. The truth is, it’s not an “either-or” proposition.
The pandemic has brought about long-term changes for both business operations and consumer expectations, and 2021 taught us how far removed we are from ever returning to the old “normal.” Shipping and delivery will continue to play a major role in how retailers, both small and large, perform and provide effective customerexperiences.
DoorDash has introduced Package Pickup, allowing consumers across the country to have the service deliver up to five return items per trip to UPS, FedEx or the USPS. Consumers can attach prepaid shipping labels to their returns or send a shipping QR code directly to their “Dasher” via the DoorDash app. “We
Long viewed as a necessary evil, the retail returns process is emerging as an unexpected avenue for growth and customer engagement. In the rapidly expanding ecommerce market, projected to reach $3 billion in 2023, a significant 20% to 30% of online purchases end up being returned. Speed-to-restock is key in the returns cycle.
Oz Hair & Beauty, H&M, and Lululemon stood out in October for dispatch and delivery experience in the Online CX Index , Australia’s first and only online retailer performance platform powered by real data. “Consumers hate unpleasant surprises. “Consumers hate unpleasant surprises.
Seeking to minimize customers’ return complexities, Walmart has partnered with FedEx for at-home pickup of unwanted gifts or ill-fitting apparel. Customers can schedule returns via the new Carrier Pickup by FedEx service for products that have been shipped and sold by Walmart.com, using either the website or the Walmart app.
In a competitive e-commerce environment, customers are most likely to return to shop where they have had the best experience. Yet many retailers are falling short, explains Mareile Osthus, CEO and co-founder of Humii, a platform that essentially X-rays retailers’ online customerexperience.
Online return fraud cost U.S. For every $100 in returned merchandise accepted, U.S. to return fraud, the NRF has calculated. While it is possible for shoppers to commit return fraud innocently simply by mis-reading the returns policy, a significant number of returns are the result of premeditation and malicious intent.
It might seem counterintuitive for retailers to focus on returns when they are so focused on trying to convince customers to buy products in the first place (and rightly so). And while establishing customer-friendly return policies might encourage shoppers to return more items, the payoff comes with higher levels of shopper loyalty.
It’s been another year of record-breaking ecommerce sales combined with unprecedented snarls across shipping and inventory ecosystems, so it should come as no surprise that return rates for 2021 are expected to have gone through the roof. Getting at the Root of Apparel and Footwear Returns.
For anyone who has made a purchase online, returns are part of the standard online buying process — so much so that, according to a recent U.S. Consumer Study , 85% of consumers check a company’s returns policy before even making a purchase when shopping online, and 68% of U.S. consumers and retain repeat customers.
Prepping click-and-collect orders, picking and packing ship-from-store orders, managing store-to-store transfers, etc. — And process returns of stuff people don’t want! Device flexibility for optimal interactions Every retailer has different needs when it comes to serving customers. the fulfillment scenarios really are endless.
Customers also expect us to have what they need when they need it. Our customers also expect high-quality products, a good selection and new, innovative items that help them live their lifestyle. Additionally, if we promise to ship something by a specific date, they expect it to arrive on time.
Tara Daly, senior director of product marketing at Loop Returns , shares with Inside Retail advice on getting started in the US market, some tips on cross-border shipping and logistics – including managing returns in a way that builds customer loyalty – and how to drive repeat business.
With record-setting online sales looming on the horizon for the holiday season, retailers also are bracing for an onslaught of online returns. Those retailers selling primarily or exclusively online are expecting a corresponding hike in the volume of returns, but not much difference in the return rates they have become accustomed to.
Dealing with customer service for a faulty product or return? Your own digital sidekick that initiates returns , arranges replacements and keeps you updated through your favorite communication channel. The retail landscape is dramatically transforming as AI reshapes how businesses interact with customers.
Funderburk and Zamansky shared how the company is doubling down on its human-centered AI approach to create a more customer-centric shopping experience and return the company to growth. Empowering Customers to Shape the Algorithm The basic premise of Stitch Fix has remained the same since the beginning.
Returns are, like it or not, as much a part of retail operations as the sales themselves. The exact return rate varies among different verticals and individual retailers, but online sales consistently generate higher levels of returns compared to brick-and-mortar. That means you’re out of business.
Key features of the Global-e platform that Harrods will be taking advantage of include: Browsing and payment in local currencies; A wide range of local and alternative payment methods; Attractive shipping offerings; Advanced duty and tax calculations and prepayment for a guaranteed final cost of purchase; and Easy returns processes. “At
Also to blame are overly complex checkout processes, invalid discount codes, security concerns, questionable return policies, comparison shopping, etc. The list goes on, but one other barrier to purchasing seems to be a major sticking point for 63% of consumers : shipping costs. The True Cost of Shipping.
Ryan Kelly, VP of Marketing at FedEx, refers to himself as a “supply chain geek with a contrarian streak” who loves to talk “fulfillment, returns and consumer shopping behaviors with anyone who will listen.” From what we’ve seen, most of these brands still have to use fragmented and inefficient shipping solutions across multiple platforms.
Retailers are using AI in various ways to improve customerexperiences, streamline operations, and gain valuable insights from data. Smart Supply Chains With the help of AI, retailers can create more efficient, agile supply chains to get products to customers faster. This improves productivity and reduces costs.
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