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