If your getting married you will be registering for gifts at retail stores or maybe even online. It's a good idea to know a little bit about how return policies work if you change your mind or get duplicates.
Returns Management Defined
Two Common Types of Returns Management Processes
Returns-This process allows customers to email or call requests for
returns ahead of time. Itgives you the chance to talk to your customers
for more personalized service and the chance to cross-sell and upsell
- Hassle-Free Returns-This process allows the customer to initiate the return themselves saving you and your team time and effort.Typically, return slips and free shipping labels come with the package or your customer has access to return slips on your website and prints them.If done right, a hassle-free returns system guarantees happy customers and gives you higher customer-retention.
Its Importance to Businesses
- 51% want free return shipping
- 62% want a return label in the box
- 61% want easy-to-print return labels from websites
- 36% want a hassle-free return shipping process
- 12% want a swift refund or store credit
- 89% say they are likely to buy from the same shop after a pleasant returns experience
Benefits of Having a Returns Management System
- Increase in Customer Satisfaction -As mentioned, a good returns policy results in higher customer satisfaction.
- Reduction of Total Overall Cost - Since some industries consider the return supply chain a top priority, working with the right reverse logistics can save you money in the long run.
- Protection of Income and Revenue -Working with reverse logistics experts will give you a better understanding of how much income and revenue are at risk in your supply chain and puts you in a position to lower that risk.
- Improvement in Operations Transparency -Putting an effective returns management system in place allows you to have a transparent view on a returned item's status at any given time.
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