At present, the return rate is continuously increasing on the eCommerce platforms. There can be many reasons behind this return rate. Most online shopping platforms are working to reduce return rates, but some are unable to do it. However, most online shopping platforms have Lower Return Rates than well-known shopping platforms. They need a proper strategy to reduce the return rates on their shopping platforms. In this article, we will share some tips using them the return rate will decrease in the retail industry
Adopting a liberal return policy:
A customer-centric returns policy empowers the consumer to buy an item with peace of mind, knowing they have the option to return it later. When you are trying to lower return rates, it looks counterproductive to integrate a liberal returns policy. But a consumer return policy can assist you to boost sales and reduce the return rate. Usually, shoppers permit consumers to return an item within one month of purchase; it makes a sense of necessity and pressures consumers to start the return faster.
Segmenting your consumer database:
Traits or personas are made by analyzing your consumer database that is much more accurate than usual depictions of high-risk consumers. Segmenting to reduce return rate is not much dissimilar from segmenting for marketing intentions. At the elementary level, you are trying to identify traits, trends, behaviors, and other helpful metrics to make smarter decisions moving forward. The effectiveness of this strategy depends on the depth of metrics that you have collected and your overall handling process and returns.
Begin with identifying your target customers:
You can distribute your customers in two segments: customers that receive the promotional offer and customers that do not receive the promotional offer. You should look at the statics if a total of five thousand customers buy at least one product, and the return rate is 20%. It means one thousand customers return a product, and it can increase your return rate. If you properly identify your target customers and find out their statics, it can help you to reduce the return rate.
Integrate high-quality visuals:
High-quality pictures of a product play an essential role to reduce the risk of return. If you upload a high-quality visual of a product on your shopping platform, customers can observe all the things about the product. However, in the product description, the information about the product is given, but pictures tell several things about the product. Most customers return their purchase items because they can’t observe the item pictures clearly. It is the biggest reason why the return rate on eCommerce platforms is increasing rapidly. So, the product visuals should be clear and high-quality.
Customer reviews:
Reading customer reviews are the crucial thing to grow your eCommerce platform and reduce the return rate. Customers share their experience with you regarding the item. If the review is positive, it is a good thing. But if reviews are negative regarding the product, you should make some changes in your product. Since if you don’t make some changes in the item, it can reduce your selling rate and increase the return rate. So, you should pay attention to customer reviews.
Final words
In order to reduce the return rate, you should follow the above-discussed tips. You can easily grow your shopping platform and provide a better experience to your customers by adding some new technologies. At last, we will publish more blogs related to AI shopping, so till then get in touch with us.
