Crafting a Customer-Centric Returns Policy
In the past, many retailers would have viewed returns as something of a pit of despair – products are sent to customers, and disappear from records until they show up again as statistics on returns volume. But in today’s day and age, with more technology included in returns management services, retailers are learning more and more about the data involved in returns and how this data can benefit the company.
At ReverseLogix, our returns management software can help. In particular, it can help you toward the goal most in the industry have at this point: A theme called “customer-centric” returns that focus not only on keeping the customer happy, but understanding why they became unhappy in the first place and cutting down on these instances. Let’s look at how this works and how our reverse logistics software can help.
Focus in the Wrong Place
Most retailers focus on cutting down their return totals, but they’re woefully uninformed when it comes to the underlying reasons these returns happen in the first place. This leaves them unable to control product flow and avoid returns that simply shouldn’t be taking place with better procedures. Our next section has some numbers to illustrate this.
Some numbers based on a recent Aberdeen report:
- 85 percent of industry leaders use customer satisfaction as a returns metric
- 68 percent of industry leaders track customer retention
- 65 percent of industry leaders analyze specific product-return data to help with future forecasts
- 63 percent of industry leaders process returns daily, either on their own or through a third-party provider
A Customer-Centric Policy
More restrictive returns policies are the next outlet for some retailers, but all this does is drive customers away and to retailers who have better policies. Instead, focus on visibility into your returns and what your shortcomings can tell you for the future – this will allow you to select, merchandise and market products more effectively moving forward.
For more on a customer-centric policy, or to learn how our returns management software can help, speak to the pros at ReverseLogix today.