A new study by nShift and DeliveryX examines the
importance of returns in ecommerce after £4.2bn worth of goods were
sent back in 2023
LONDON, June 27,
2024 /PRNewswire/ -- Returns provide retailers with a
golden opportunity to differentiate and improve customer loyalty.
That's the view from nShift, the global leader in delivery &
experience management (DMXM), which has released a new report
looking at how increasingly influential this element of ecommerce
is to both shops and shoppers.
The DeliveryX Returns 2024 report found that over one third
(35%) of consumers now send products back. In the UK alone, the
value of returns reached £4.2bn in 2023. The report also found that
54% of consumers see 'easy' returns as very important and over
three quarters (76%) of consumers expect their ecommerce returns to
be free of charge.
Commenting on the report, Sean
Sherwin-Smith, product director post-purchase at nShift
said, "Returns play a key role in the delivery experience. Surveys
tell us that simple returns policies encourage customers to buy
with confidence. However, what the customer sees and feels after
they've clicked "buy now" often determines whether they will shop
again.
"A digital returns capability can also enable revenue retention
and cross selling – for example by encouraging customers to opt for
an exchange instead of a refund or inviting them to return in-store
rather than through the post."
Returns as a business driver
nShift believes returns can be a business driver and offers the
following advice for retailers looking to revamp their return
strategies.
- Make returns easy – operating a simple digital
returns process gives shoppers confidence in the brand. It also
makes it easier for the retailer to track patterns and work out why
items are being sent back
- Convert returns to exchanges – a consumer-friendly
returns interface makes it easier for the customer to exchange the
item they are sending back for something else from the brand or
retailer. With the right returns software, ecom companies can
automate the process of offering an exchange. nShift Returns
customers typically convert 30% of returns to exchanges, helping
retailers retain revenue
- Maximize returns data - manual returns processes
make it difficult to gather information about items being sent
back. But when the process operates digitally, it creates a wealth
of data for businesses to analyze. This makes it easier to spot
trends and patterns. Teams can identify and rectify common problems
that are causing items to be sent back. This can reduce returns
volumes over the long term
- Respond with remarketing – emails about returns
have significantly higher engagement rates than other retail
communications. By weaving marketing messages into these emails,
ecom companies can create additional sales opportunities
- Drive customers in-store – a digital returns process
makes it easier to give customers the opportunity to take their
items back into store. Here they will speak with a member of staff
who can encourage them to exchange the item. The customer will also
encounter additional products and marketing messages in-store
Delivery & experience management (DMXM) enables retailers to
build brand loyalty, reduce costs, and increase revenues, with
deliveries. With DMXM, shipping and deliveries become customer
experiences which surprise and delight shoppers, while reducing
costs and unlocking efficiencies across warehouses and delivery
teams.
Sherwin-Smith concluded, "Winning on returns can only happen if
the whole experience is seamless and intuitive, from selecting
delivery options at checkout, to tracking deliveries to the
doorstep or collection point, and requesting a return if
necessary. It should be totally digital, with the retailer,
rather than carriers, acting as the focal point."
Download your copy of the DeliveryX Returns 2024 report to find
out more.
About nShift
nShift's delivery & experience management platform drives
ecommerce success. Grow beyond limits with constant innovation and
the world's largest carrier network. Build customer loyalty with
end-to-end tools that enhance experience. Unify data into usable
insight that connects and optimizes processes. With nShift, make
delivery the essential link between your brand and your
customers.
nShift. Worry less. Ship smarter. www.nshift.com
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