Parcel Monitor: An Introduction to Returns Management in E-Commerce
.png/fit-in/700x9999/filters:no_upscale())
Returns have now become imperative for any retail businesses, be it online or offline. 2021 saw a peak in returns rate at a 16.6% average according to a recent survey done by National Retail Federation and Appriss Retail. Given the high cost and frequency of returns in today’s retail landscape, implementation of a proper returns management process is more crucial than ever.
On that note, Parcel Monitor had the pleasure of discussing this with Justin Irvine, Director-Global Head of Produce at SEKO on benefits and challenges of offering returns as well as tips on kickstarting an effective returns strategy in e-commerce. Here are some of the key takeaways from this:
-
The flexibility and frictionless nature of returns allows customers to make purchases with confidence. This can further enhance overall customer satisfaction and brand loyalty.
-
There has been a shift in perspective with regards to returns – from being seen as a cost on the balance sheet to one that is seen as a critical part of customer acquisition and retention.
-
Balancing both sustainability and costs of returns remains a big challenge for retailers regardless of industry.
-
Optimize your returns strategies by diversifying returns options such as pick-up and drop-off (PUDO) and direct returns, as well as aligning closely with important metrics like Customer Satisfaction Score (CSAT)
Discover more about returns management here!
About Parcel Monitor
Parcel Monitor is the leading platform for e-commerce logistics insights. By leveraging on our data capabilities, Parcel Monitor creates an open space for the ecosystem to discover, collaborate and innovate.
Through data and the collective wisdom of the community, we believe we can inspire change in e-commerce logistics and deliver a better experience for consumers, merchants, and carriers.
Source: https://bit.ly/3n1Z1jO
Latest News
-
)
As I mentioned in a previous article, eCommerce is going through a tough period at the moment. Following the huge growth online during the lockdowns, it has fallen away consistently as we’ve entered a ... -
)
Discover essential insights into eCommerce talent sourcing trends with Andy Davies, from Vertical Advantage. Learn about salary shifts, leadership gaps, and strategies for sustainable growth. -
)
Explore Martin's journey into AI, and discover his insights on integrating AI into business operations and how can AI enhance creativity. -
)
Learn eCommerce success essentials from Chloë Thomas: adapt, profit, engage. Test and innovate to thrive in today's competitive market. -
)
IMRG’s recent session highlighted key insights for eCommerce growth: 🎧 Listen to the Full Session In This Session: eCommerce Downturn: 2022 saw negative growth in the UK's eCommerce sector, largel ... -
)
Discover key insights with Paul Walsh, Founder of All Things Amazon. -
)
Learn how to go composable with Lampoo, luxury second-hand fashion retailer. -
)
With trading conditions proving to be very difficult over the past few years, it was perhaps a surprise that peak trading fell in line with forecasts for online retail. -
)
Meet Paul Kirby, Trustpilot's Enterprise Customer Success Manager, sharing his journey from media advertising to guiding eCommerce leaders through reviews. -
)
IMRG reveal industry customer acquisition rates, how long customers should be staying with you, and if you’re spending too much to acquire new customers. This session uses IMRG’s unique market dataset ... -
)
Meet Manuel, the Director of Client Strategy at Bloomreach. -
)
Brands that succeed in 2024 are likely to be those that connect brand and customer experiences seamlessly, digitally and physically in everyday life: at home, in play, in retail, and more. Faced with ... -
)
A pretty good Christmas for retailers, but… For many retailers selling in the UK market, the past few years have been notable for a clear dip in customer demand; the economic downturn has been reflec ... -
)
What does it take to gain 1 million active mobile app users monthly? How do you reach the ability to deploy any applications or API changes worldwide in 5 minutes or less? Well, Formidable’s Director ... -
)
Discover the secrets behind Pandora's colossal success as the world's largest jewellery brand in a session titled "How Product Information Management Powers Pandora's Global Retail Growth." The world’ ... -
)
Explore the dynamic landscape of Cross-Border eCommerce and its role in unlocking global growth. This expert panel discusses key strategies, technologies, and trends, offering valuable insights for bu ... -
)
Moonpig's Director of New Markets & Ventures, Alexander Toft, shared invaluable insights during the conference session on "Taking an established brand to new markets." Here are the key takeaways: Star ... -
)
The Livestreaming eCommerce market in China is forecast to reach 700bn RMB (£80bn) in 2023, roughly equivalent to the entire eCommerce market of South Korea. Chinese consumers show an increasing appet ... -
)
Discover key insights with experts from Propeller, Boots Media Group, Microsoft and NielsenIQ -
)
Henry is a fixture in millions of homes in the UK, and part of their success can be attributed to the hyper-focused view on their customers’ experience and loyalty. -
)
A checklist for improving your key KPIs with Composable commerce while avoiding the most common pitfalls - drawing from practical experience from Lars Petersen, CEO of Uniform, Tomas A. Krag and Malgo ... -
)
In today's highly competitive world, where customers have numerous options and heightened expectations, retailers face the challenge of fostering mutually valuable and long-term relationship with thei ... -
)
In this session, uncover how Sitecore Commerce breaks away from the one-size-fits-all approach, empowering brands with unique products to maintain their distinctiveness and deliver unmatched customer ... -
)
Explore the aftermath of Black Friday 2023 with Andy Mulcahy's analysis. -
)
Dive into the dynamic world of eCommerce with Chloë Thomas, renowned Author and Podcast Host of eCommerce MasterPlan, as she moderates a panel discussion featuring David Meakin, Head of Partnerships & ... -
.png/fit-in/500x500/filters:no_upscale())
Bite-size updates on what happened in eCommerce this month, to keep you ahead of the curve and inform your campaigns. -
)
Unlock the power of Artificial Intelligence in commerce growth with Shaun McCran, Head of Commerce Product Marketing for Europe at Adobe. -
.png/fit-in/500x500/filters:no_upscale())
In retail, leaders constantly grapple with challenges and opportunities that compel them to reconsider their commerce strategies. This eCommerce Expo Keynote, chaired by Andrew McClelland, hosted Dean ... -
)
Michael Scholz, VP of Product and Customer Marketing at commercetools, provides invaluable insights into adopting a composable commerce approach for crafting exceptional shopping experiences. Let's de ... -
)
Elevate your customer engagement strategy with Anish Chadda, VP of Product at MessageBird
)
)
){kind=logo}
)
){kind=logo}
){kind=logo}
.png/fit-in/500x500/filters:no_upscale())
){kind=logo}
)
)
){kind=logo}
