Retailers lose more than $600 billion each year to sales returns. Labeled the “ghost economy” by IHL Group, retailers in North America accounted for $183 billion of that number alone. Understanding the importance of returns in the consumer journey is critical for indie retailers looking to stay competitive and succeed in today’s online marketplace. Returnly, […]
returns
How to Make Every Day Feel Like Earth Day
As climate change causes worldwide concern and prompts calls for governmental action, consumers are putting the pressure on businesses to step up their sustainability standards and practices. Earth Day, coming up on April 22nd, is a great time to show shoppers how your store ‘goes green,’ but it doesn’t have to stop there. Shoppers Flock […]
Online Shoppers Say It’s Retailers’ Responsibility to Minimize Environmental Damage Caused by Returns
Returns of products purchased online generate five billion tons of trash and 15 million metric tons of carbon dioxide (CO2) annually. And while consumer behavior can contribute to this, the majority of online shoppers say it is the retailers’ responsibility to address the environmental damage caused by returns. That is the finding of a new […]
Splitit Survey Finds Online Return Process is Key to Customer Experience & Web Conversion
A recent survey by leading monthly installment payment solution Splitit highlights the growing importance of consumer returns within the ecommerce industry. The Splitit survey revealed that a good return policy is not only key to overall customer experience, but directly affects web conversion and, ultimately, a retailer’s bottom line. Returns, Returns, & More Returns Online […]
Capitalizing on Holiday Returns
Returns are always the grunt work of the holiday season. It’s bad enough that all the excitement is over come January 2nd, but then retail businesses get an influx of customers trying to return their holiday gifts. An Oracle Retail survey conducted by Savanta found that during the upcoming season, 77 percent of consumers surveyed […]
Purchases That Come Back to Haunt You
by Eran Rozenfeld A higher percentage of sales are starting to result in returns. Many people order items with no intention of keeping them. Sometimes it’s a matter of short-term usage, such as buying a new suit for an event, and returning it the next morning. Other times, it’s just part of a selection process […]
How to Profit from Seasonal Overstock and Returns
The holidays are over, including retail holidays Black Friday, Small Business Saturday, and Super Saturday. But, there is still one retail holiday left to contend with: National Returns Day. This more informal holiday takes place in the beginning of January when consumers flock to the stores and the Post Office to return or exchange holiday […]
How Amazon is Addressing “Try Before You Buy”
How annoying is it to buy a piece of clothing online, not like the way it fits, and then go through the hassle of sending it back? And often you have to pay extra shipping fees out of your own pocket. This isn’t the ideal situation for loyal customers, and that’s why Amazon’s “try before […]
Does Amazon Have the Solution for Retail’s Return Problem?
Fraudulent returns cost retailers an average of $10 billion to $17 billion per year in the U.S. That can be a scary number for anyone, especially independent retailers who may not have a large safety net to fall back on when problems arise. Many large retailers such as Wal-Mart, Target, and Amazon have been tracking the […]
RFID and the Returns Epidemic: Item Level RFID Could be the Answer to Faster, Simpler Returns
By Dean Frew, CTO & SVP RFID Solutions at SML Group Whether in Europe, the Americas or Asia, the retail industry is currently facing an epidemic. In the past, commentators weighed in on trends such as ‘the death of the highstreet,’ how to obtain and retain brand loyalty and how to improve customer experience. However, whilst […]
