Retail returns aren’t just an e-commerce problem; all retailers should be thinking about ways to reduce returns. While online fashion purchases are returned dvakrát tak často as in-store items, physical store returns are also taking a big chunk out of retailers’ market share.
Returns will cost businesses $550 miliard this year alone (that’s up a whopping 75 percent from four years ago!) Consumers return 5 10 procent
So what must a retailer do to maintain margins? Let’s discuss the current state of retail returns and review some strategies to reduce returns in your brick-and-mortar store.
Return policy sensitive subject
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There has been a recent trend in the retail industry towards lax return policies, but india whatsapp number data retailers are scaling back to deal with the impact of serial returners. Brands like LL Bean still give customers až rok to return their purchases. However, that’s a little less impressive when you consider the fact that LL Bean offered a lifetime warranty.
Certain retail categories are particularly susceptible to serial returners. For example, Informuje Forbes that the return rate for clothing is double that of other Christmas gifts, and 85% of consumers plan to return clothing gifts.
Rising return rates as serial
eCommerce returners erode profit margins, have led many retailers to restrict or add additional regulations to their return policies. Bed, Bath & Beyond recently reduced its return period to 180 days Svět spotřebitelů . This including keywords that potential buyers can comes after it replaced its unlimited return policy with a one-year period last year. Macy’s return period has also been shortened. It is now an average of 90 days from the original 180 day limit.
But an overly strict cz lists return policy can discourage potential repeat a first-time customers. So, to mitigate revenue without reducing sales, you need to be strategic. Here are 3 strategies you can use to reduce returns on your stores.