Knock off the eCommerce Returns with these 5 Essential Measures!
eCommerce return is a pain for online sellers. It is intruding on the profit margins and can become a peril for the survival of your business. Today, almost every retailer or vendor faces the rigorous challenges of managing their product returns. It is vital to enact an efficient returns management policy to establish an improved relationship with customers without compromising the revenue from reverse logistics. In this manner conducting a regular return, reconciliation can help them.
Believe it or not, return rates have increased more than 30% in the eCommerce industry in the past few years. According to research, customers returned products worth 431 billion dollars worldwide last year. To diminish the return rate, sellers can take the services of specific return management software in the market. They provide a cluster of services to help sellers keep an eye on the returned items and generate resale reports. They provide seamless, integrated solutions with numerous eCommerce platforms such as Flipkart, Amazon, Myntra, etc. In this blog, we have mentioned some of the essential measures to knock off the eCommerce return for sellers. Let’s find out what those measures are.
Massive Reasons Behind Customer Returns
Before going any further, it is essential to know the reasons behind the return of products. Research suggests that consumers return more than 15% of online purchased products. Most customers return the product based on the following factors.
- Poor quality of products
- Size is inappropriate
- Product is not the same as described
- Damaged product
- Not in need of the product anymore
- Delay in Delivery
However, being an online seller, you need to avail yourself of any return reconciliation-based software service. Software companies such as eVanik, offers a centralized panel to manage the return products and the account reconciliation and inventory management. Such software can help you with managing the courier and customer returns productively.
5 Vital Measures To Lessen The Risk of eCommerce Return
Whether you are a big or small seller, the return of products definitely can affect your overall business and credibility as well. Return rates can cost you a lot even if your sale is increasing. That is why it is significant to focus on vital measures to reduce the risk of eCommerce return.
Establish an Effective Return Policy:
To minimize the risk of eCommerce return, you must establish an effective return policy. It can help the seller and customers keep track of the whole return process. A hassle-free return method can eventually help minimize the risk of eCommerce return rates. In online business, consumers rely more on the shipping and delivery process and the return policies. Being a seller, you must understand that return policies affect customer's shopping decisions. Everyone wants a smooth online shopping experience, even if they need to return the product for specific reasons.
Use the Return Management Software:
For sellers, return management software is a huge relief that can effectively diminish the risk factor of eCommerce return. Several companies in the market provide impeccable automated online return management software. After availing of the service of this software, you will be able to evaluate and handle the courier and customer both types of returns. You will be able to detect the entire order cycle, and it can also shorten your time and energy spent over the return process. Later on, it can add wholesome profit to your business. Return management software is designed to speed up the process of eCommerce return.
Accurate Product Description:
If you are in an Online eCommerce business, an accurate product description is needed. It can not only help to increase your sales but also cut off the risk of return rates. Being a seller, you must add a product description with your products. It helps the customer to understand the product in a better way. Once they have clarity about the product, it will automatically diminish the risk of the product return. Along with the description, one must add a 360-degree view, a size chart (according to the product), and other details. You must understand that more transparency can add more benefits to your business and reduce the eCommerce return rates. Adding customer reviews can also be effective in reducing product return rates.
Keep an Eye on Your Orders:
Sellers just need to track down their number of orders placed by their customers. Although, it is a challenging yet mind blistering process. However, it is equally important to keep an eye on the entire order process from shipping to delivery. Order must get dispatched to the customers on given time. Wrong and delayed orders are also a reason behind the eCommerce return rates. Sellers must find a way to visualize this whole process in a proper manner. It can be proven cost-effective to your business.
Attain the Benefits From Returned Items:
It is unpredictable, but yes, it is a hidden benefit of eCommerce return. No one can deny that reverse logistics is a real pain for sellers. However, it could be surprising for you to know that there is a golden lining to the cloud of eCommerce return rates. Be a savvy seller and use the product returns to build the base of your business robust. You can collect customer data to closely diagnose the common trends of returned items. You can also survey to understand the issues of returned products and revise your future inventory accordingly. Throughout this process, return management software can also help.
As you can see, many thinking processes are involved in reducing the eCommerce returns. However, you can now use the measures as mentioned above to reduce the risk of returns and generate revenue. Optimizing the return process also leads to dropping the risk factor of returns. Eliminating the logistic return rate is essential to achieving your targeted goal. Sometimes, customers enjoy the return process for various reasons, but it affects your business drastically.
Return rates have increased more than ever during the Pandemic. It has become crucial for sellers to subscribe to any return management software for hassle-free eCommerce return management in the current scenario.