Of all the factors behind returns, the customer is at least ten times more significant than any other. Understanding the basic ratio of shoppers who intend to keep, versus those who order intending to return, is essential to understand the profitability potential of your customer base, and whether your return rates are commercially damaging or sustainable. If the balance is tipped too far towards the high returning low profit customer, the gap between growing revenue and falling profits will escalate.
Typically, initial efforts to reduce returns are directed towards product, quality or size/fit, so energy and spend focuses here – this can lead to a costly waste of time and effort. We look at the effective steps that can be taken by retailers to start tackling returns immediately.
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