For a Returns Process that Leaves Everyone Smiling, Turn to Crowdsourcing
Peak season is quickly heading our way, and with all those gift purchases being made you can bet some are headed back to you in the form of returns. Are you ready?
Consumers were expected to return nearly 17% of retail merchandise purchased in 2021, according to data from the National Retail Federation. That’s a whopping $761 billion worth of products. Beyond losing revenue, your returns process can also cost your customers. Four in 10 respondents to another survey said they would reconsider future purchases from a retailer that took too long to process a refund, and 73% of consumers in a recent report said they will abandon a brand after up to three negative experiences.
Retail returns may be a cost of doing business, but investing in a strategy to handle returns successfully can help ensure they don’t have an overly negative impact on your bottom line. While it may sting to lose a merchandise sale, losing the customer altogether hurts worse. On the flip side, even more consumers — a whopping 92% — say they’ll buy from a retailer again if the return process is easy.
A reverse logistics approach that leverages crowdsourcing is an easy way for retailers to use available resources to increase positive customer interactions. In the same way you call on crowdsourced drivers for quick-turnaround order delivery during peak season, you can also tap them to handle returns with the same speed and ease.
With crowdsourced delivery, you have a scaleable, on-demand reverse logistics process in your toolkit. That allows you to give customers choice in how they process returns, just like you give them choice (or should be) in how fast to receive their orders.