Profit loss from holiday returns is inevitable. It is important to arm your business with the right tools from the start to minimize your losses. But it isn’t too little, too late. Even if you may not have set yourself up for success this holiday season, there are still ways to cut back on profit loss and maybe even – dare we say – increase post-holiday sales!
Here are three ways to minimize profit loss from holiday returns that you can use now.
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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.
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