Advice for retailers facing Christmas product returns

By Ben Latham | Monday 9th December 2013

Product Returns

Retailers should have a full returns policy in place in and around Christmas because it’s the time of year when they’re inundated with unwanted gifts.

It’s been reported that up to 40% of clothing and between 5% and 10% of electrical goods bought online are returned after Christmas in January.

But retailers are still racing to catch up with this trend brought about by the growth in internet retailing.

Evidence suggests retailers should address their online return policy

There’s lots of evidence out there on the web that suggests retailers should switch on to an up-to-date returns policy.

According to a 2013 report by Upstream Commerce, “81% of survey respondents stated that they are less likely to make additional purchases on Web sites that charge for return shipping.” So think seriously about how you can introduce a free returns policy.

And consider Asos chief executive Nick Robertson’s statement, reported in a Reuters news piece about online retailers developing technology to help them provide clothing measurement apps with greater accuracy: “A 1 percent fall in returns would immediately add 10 million pounds ($16 million)to the company’s bottom line.”

Don’t miss out. Make sure you’re developing your response to this trend. It may be late in the year, but there are still things you start to put in place, now.

Advice to retailers

Summit’s Director of Digital Strategy Ben Latham offers advice to retailers in this week’s Retail Buzz peak video.

  • Tip 1: Give lots of information
  • Tip 2: Feed returns into your optimsation routines
  • Tip 3: Make it easy
  • Tip 4: Keep in touch
  • Tip 5: Get returns back into inventory

Watch the video (above) to get the full list of recommendations.

Watch our other Peak Season Videos



X
^