How to Reduce Product Return Rates Online While Increasing Sales
Today’s modern consumer expects a better online shopping experience than they would experience in a store.
From fast browsing to clear and compelling images, on-demand customer service and easy product returns, the bar is constantly raised for retail stores looking to succeed in today’s hyper-competitive online marketplace.
In addition to website functionality, brands like Amazon and Netflix have popularized the value of personalization, leading many consumers to believe they should be able to buy exactly what they want, when they want … with extras!
Brands that are able to achieve this are rewarded with the most coveted low-cost form of marketing available: 5-star reviews and organic word of mouth.
But when a brand fails to meet those expectations, most consumers have no problem looking elsewhere.
So what can the average Australian retailer do to be successful in a modern digital landscape?
Don’t play catch-up. Be strategic.
One of the biggest challenges for Australian retailers is that they continually feel like they are catching up in a rapidly changing environment.
However, catching up will always leave you a step behind.
The key is to adopt innovative and creative strategies that set your business apart. Naturally, this requires internal resources to focus on forward-thinking initiatives rather than day-to-day operations. This is where using technology to take over more of the hacking work can help free up staff to focus on the value-added work that drives the business forward.
Present your products in an exquisite way
- Find your website quickly, on any device.
- Quickly navigate to products of interest.
- Fully understand the product and its availability.
- See clear and compelling images.
- Watch videos or other key product information.
- Personalized product recommendations (e.g. based on what is known about the customer, history of purchase and return reasons, preferred colors, size, etc.).
- Get answers to questions.
- View their cart and make changes easily.
- Have several options to pay, then track delivery.
- Return a product if it is not correct.
Frustrated buyers are a brand’s worst nightmare. As the negative reviews accumulate, the brand’s reputation can take a serious hit, which is often very difficult to recover from.
While meeting all of the needs of a modern online shopper might seem overwhelming, the technology is brilliant at solving these challenges for you.
For example, a quality Product Information Management (PIM) solution will automate and streamline everything from product integration to upselling and cross-selling, personalized recommendations, images, product descriptions, and more.
Empower suppliers to manage their product information
Retail teams spend an incredible amount of time and energy dealing with suppliers. Whether it’s delivery times, inventory availability, or getting complete product information, liaising with hundreds (or even thousands) of potential suppliers can have a significant impact on your bottom line. .
Deploying an advanced vendor management solution can help mitigate many of these challenges and risks, while still giving staff time to focus on more important tasks.
By seeking out where digital solutions can address digital challenges, retail companies have the opportunity to accelerate their capabilities to benefit their employees, profits and customers. With the right systems in place, delivering a personalized and stunning customer experience isn’t a challenge – it’s a normal part of your day-to-day.