The trend: Online returns cost retailers an average 21% of their order value, per a Pitney Bowes survey of US online retailers.
More on this: A large share (70%) of retailers in the Pitney Bowes survey are actively attempting to lower the cost of returns by addressing their reverse logistics processes (moving goods from the consumer back to the retailer or manufacturer), including their transportation and/or processing fees.
A delicate balance: With customer acquisition costs rising, it’s increasingly important for retailers to avoid frustrating their customers with their returns processes.
That puts the onus on retailers to find innovative ways to cut costs and keep shoppers satisfied. For example:
The big takeaway: If done well, returns can represent an opportunity for retailers to build customer loyalty, said Patty Soltis, eMarketer principal analyst at Insider Intelligence.
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