According to the National Retail Federation, more than $60 billion of merchandise is returned each year. This number, while already staggering, continues to rise each year. As more customers migrate to online shopping, we are faced with a higher likelihood of returns.
This is a challenge. Regardless of the time of year, we are constantly trying to combat customer returns. We do not want to deal with inventory management, repackaging, or remanufacturing. Why would we?
The returns process is often a headache, and therefore something we fail to face head-on. But we can no longer afford to sweep it under a rug. We have a problem, and it’s got to do with reverse logistics!
Here are 3 brilliant ways to solve reverse logistics issues to minimize losses and maximize customer satisfaction.
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According to a 2016 State of Small Business Report, companies across a variety of industries plan to use customer retention to grow revenue in 2017. How will they retain more customers? Their flagship strategy involves improving the customer experience.
The reasoning behind this strategy is simple. Happy customers are often loyal customers. A positive customer experience leads to reductions in churn, increases in customer advocacy, and can even create a competitive advantage over those lacking great customer satisfaction.
Here are 5 ways to improve the customer experience and grow your revenue in 2017.
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Analytics is a trending topic for companies dealing with product returns. Returns data provides an incredible amount of insight into why returns are happening so patterns can be broken, returns minimized, and the overall customer experience improved.
Knowing why your products are being returned and analyzing which products are returned most, for example, is incredibly powerful. You can improve inventory planning, conduct more in-depth product testing, and make adjustments to your products to improve your sales and return rates.
Continue reading Using Returns Data to Improve the Customer Experience