If you’ve been an e-commerce seller for even a short period, you know that today’s online shoppers are a tough crowd. Thanks to retail giants like Amazon and Wayfair, consumers have come to expect free shipping, competitive prices, and, last but not least, a hassle-free return policy.
For businesses that specialize in selling large items, these customer expectations can introduce many challenges. From the initial costs to logistical complications, it’s easy to see why many sellers have adopted a “no return” policy. But the truth is those without a reverse logistics strategy could be leaving lots of profit on the table.
If you’re still on the fence about returns, here are four good reasons to revamp your policy today. And when you’re ready to ship, get free rates from uShip to fast-track your returns process and grow your business.
1. ATTRACT MORE BUYERS
According to a recent e-Commerce study, the home and furniture industry has one of the highest cart abandonment rates, at a whopping 74%. That’s because customers making large purchases, especially those who have to pay for shipping, have a lot to lose.
Ultimately, a business with a “no return” policy could lead a customer to ask questions like, “What if this item looks different in person? Why doesn’t this shop accept returns? Does this say something about the quality of their products?”
The purchase then becomes a risk for the customer, giving them plenty of reasons to look elsewhere for a similar product. Usually, this is somewhere with free shipping and no-hassle returns.
2. ENCOURAGE MORE PURCHASES
Obviously, businesses with lenient return policies tend to see more returns, but they also see an increase in purchases. In the same way free shipping entices buyers to spend more, a solid return policy can also break down customer apprehensions and encourage them to shop to their hearts’ delight.
And if the idea of handling more returns gives you pause, you can ultimately reduce this number altogether by allowing for longer return windows. While it sounds counterintuitive, studies have shown that the more time a customer spends with an item, the more attached they become and the less likely they are to send it back.
3. ATTRACT REPEAT BUYERS
Here’s another stat that’s hard to ignore: 95% of consumers said they would buy from a business again if they had a good return experience. So not only can a clear return policy encourage purchases and more of them, but it can also bring customers back to your shop.
The best part? These repeat customers are more likely to sing your praises in online reviews and social platforms, bringing in even more buyers and creating a community of brand loyalists who will take your business to the next level.
4. PROTECT YOUR BUSINESS
Ultimately, if you don’t have a clearly visible return policy, you could find yourself dealing with added customer inquiries, more frustrated buyers, and fewer brand loyalists down the road.
Not only could each of these circumstances cut into your bottom line and hurt your brand reputation, but they’ll also cost you valuable time that you could spend building your business and doing what you love.
Looking for a fast, affordable way to process returns for your business? Price your shipment and create your free listing today.