As an eCommerce store owner, you will have to experience returns from customers as well. Dealing with these returns can be frustrating. That’s because it can create an impact on your business financially. On the other hand, you will have to spend a considerable amount of time to work on these returns as well. That’s why all the eCommerce store owners need to implement appropriate return strategies. Then you will be able to manage your returns effectively and receive outstanding results in the long run.
Here is a list of 5 prominent returns strategies that you can follow as an eCommerce store owner.
Create a proper return policy
As the very first tip, you are strongly encouraged to go ahead and create an appropriate policy of return. Then you will be able to manage all your returns in an effective manner. On the other hand, coming up with such a return policy will help you to tempt your customers to go ahead and invest money in purchasing your products without having to worry about anything.
You will be able to discover numerous eCommerce platforms, which have proper return policies. These return policies are being used by those eCommerce websites as a unique selling point. Hence, you must also go ahead and create such an effective returns policy for the eCommerce website.
You need to pay your attention to a few important parameters at the time of defining the return policy. The very first parameter out of them is the reason for return. Then the customers will need to include the reason why they are returning. There should be a proper product margin for the returns. In addition to that, you must clearly specify the location of return, so that you can get the product back into your warehouse. If you are looking to give a product discount for the returns, you must clearly specify that as well.
Automate the returns process
We are living in a world where we use technology to automate numerous things. You can use that to automate the returns of your eCommerce store as well. This is where a reliable stock management software will be able to help you with. You can use the stock management system to make sure that the returns are tracked automatically. Then you will also be able to handle all the returns that you have in your warehouse as well.
Many inventory management software are available in the market for you to get this functionality. You need to take a look at the different tools and locate the best ones out of them. Then you will be able to manage the returns and even send automated refunds to the customers. On the other hand, you can get assistance with restocking all the returned items. Along with that, you can manage a proper database for storing the returned items.
Include clear deadlines in the return policy
You must include a return policy in the eCommerce store. Along with that, you need to make sure that you include clear deadlines as well. Customers will take a look at your return policy before they make a decision to buy what you offer. Therefore, you need to include a return policy and keep it simple and effective.
You need to make sure that you are not hiding the deadline for accepting returns. You should prominently state it. If possible, you should bold and highlight the return deadline, so that customers can be aware of it even before they purchase the product.
When there is a clear returns policy, you will be able to help the customers to understand what is needed to go ahead with the return process. If the return process goes wrong, your customers will not come forward and blame you as well. That’s because you clearly indicated the return policy for them, even before they made the purchase.
You should have a clear timeline to manage the returns as well. Then you can deal with returns effectively. On the other hand, it will also help you to predict your revenue in an effective manner.
Provide per-printed return labels
When you are providing per-printed return labels, you will be able to make life easy for all the customers who proceed with returns. You can standardize this label so that you will be able to integrate it with your inventory management system as well.
When you make the return process easy for the customers, you will notice that customers are returning their products quickly. They will have to face less hassle at the time of returning the products as well. Then you can experience all the benefits that will come along with the quick return turnaround. On the other hand, giving such printed labels will help you to overcome return frauds as well.
Implement reverse logistics
When you implement reverse logistics, you will be able to cut down the cost associated with returns by a massive extent. That’s because you will be able to restock and list the returned items effectively so that you can minimize the loss that you have to bear. When you have automated inventory management software, you will be able to integrate it with reverse logistics as well.
Implementing reverse logistics is one of the best methods available for you to cut down shipment expenses. On the other hand, it will help you to increase the proper usage of your stocks. You can also use that to enhance customer retention. On top of everything, you will be able to boost the velocity linked with stock transportation.
Now you are aware of 5 of the most important returns strategies to take care of when handling the returns of your eCommerce store. Pay attention to these tips, and you will end up receiving outstanding results when managing all the returns.