Returned goods can be an excellent source of agony for many businesses as they can translate into a huge loss and a reduction in sales and revenue. Luckily, all is not lost as you can leverage this and grow your business.
You have gone full throttle on research and outdone yourself to create an impressive product that is likely to blow the consumer. Then it is time to put it on the market. Given the exceptional level detail that went into creating the product, the last thing you would expect is for people to ship it.
But surprisingly, some people do ship it back. That’s the nature of doing business and instead of agonizing over such occurrences, use them to your advantage. With the proper reverse logistics strategy, ReverseLogix notes you can give your business an edge on the market.
Improve customer experience
As the competition heats up, so does the need to please and pamper the customers. In fact, research shows that customer satisfaction is among the leading cause of business success. Therefore, you must go out of your way to keep your buyers happy and satisfied. In some instance, this might entails taking some beating in the process.
Make it easy for buyers to return their purchases if they are not happy with them. Doing so eliminates the feeling of being trapped with an item they don’t like or appreciate. It gives people the freedom to want to try your product knowing that they can send it back.
Get to the root of the returns
If you run a brick and mortal store, the chances are that you will have an average of 9 percent of the customer returning their purchases. In an e-commerce setting, the figures are likely to shoot up to 30 percent. While some of the returns are genuine, some of them are just malicious. It is only by cataloging the various reasons that customers ship back your products can you act on it.
A high rate of mismatched goods can point out a weakness in your fulfillment. If too many items suffer damages during shipment, then it’s time to reevaluate your packing. Damages could also result from poor handling by the shipping company. With the proper technology, you can root out these problems and lower the incidences.
While no one likes it when buyers ship back their purchases, it is just the cost of doing business. However, instead of getting all torn up by returned goods, you can use it this opportunity to grow your business.