We are all aware of the rise of global ecommerce in these years but do you know the true rate of online returns around the world?
Ecommerce Returns Rate
One source reports that it can be up to 40%, while another study claims the real number is 66%. It's hard to get a accurate number, but ONE thing is for certain：
With the unstoppable growth of global e-Commerce, online retailers are dealing with a large volume of customer returns! Returns are inevitable, you can’t ignore them.
Especially during high return times like the holidays. It's a big headache for eCommerce retailers. Online holiday returns increase 41% year over year. Most shoppers plan on making a return after the holidays. In addition, clothing and shoes are returned at the highest rate, mostly because customers often buy multiple sizes with the intention of returning items that don’t fit.
The eCommerce return experience can lose or win customers
The negative returns experiences can deter customers from shopping with a brand again, according to Narvar. The survey found that
76% of first-time customers to a brand who returned an order and say their return experience was “easy” or “very easy” say they would shop with that retailer again. What’s more, 33% of repeat shoppers who say their return experience was “difficult” or “very difficult” say they would not shop with the retailer again.
Behind every returns is a customer who is asking for service
According to the Pulse of the Online Shopper survey from UPS,
68% of shoppers check out the returns policies before deciding to making a purchase.
The latest UPS survey for 18,000 consumers in 10 languages across 15 countries gives the following reasons for shoppers to feel positive about a returns experience ：
And the primary reason dissatisfication with the returns experience is delay in refund.
87% of customer would use an online return portal if provides refunds,showing that offering your customers a fast and convenient returns process is can boost your customer retention.
Thanks to ReturnHelper's feature, you can optimize the return from a portal integrated with your webstore and buyer can enjoy a seamless, self-service online return experience.
Automate your return process with an online return portal to reduce cost and speed up refunds
We have integration with all the major marketplaces and ecommerce platforms, enabling a seamless return experience for both seller and buyer
And our branded return portal optimizes the return experience on your webstore by automating the reverse logistics and return process operation, saving your time by up to 50%.
Help customers print return labels easily
we provide a pre-negotiated discounted rate for return labels, ensure buyer can always enjoy the best price.
Once the payment for label is complete, buyer will recieve email with a download link for prepaid return label.
Our 30+ curated reverse logistics services on our platform, together with our pre-negotiated discounted rate, ensure that both seller and buyer can always enjoy the biggest savings on logistics cost.
Moreover, Return Helper has warehouses for returns in the US, Europe, Japan and other 9 countries. Sellers can enjoy a unified return service experience on one single platform.
Upon delivery of your returned item, our return warehouse will unpack the return package, check the products inside, and present all the items and accessories, so that the seller can make accurate judgments to reduce the risk of devaluation of the return and the seller can log in to the system within 24 hours to view. Customized value added service is also available in order to fulfill your specific requirements.
Conclusion: Optimize the return process and policies, turn every e-commerce return into an opportunity for remarketing!
In the highly competitive e-commerce market, we should pay more attention to every contact point with customers.
The return policy is nothing more than one of the keys to whether a brand can increase the repurchase rate. When global e-commerce sales continue to grow and competitiveness becomes greater and the cost of acquiring new customers is getting higher and higher (Invesp: the cost of developing a new customer is 5 times higher than the cost of retaining an old customer ) why not focus more on the lifetime value of customers?
Frederick F. Reichheld and W. Earl Sasser Jr., boldly announced in a 1990 issue of the Harvard Business Review "As a customer’s relationship with the company lengthens, profits rise. And not just a little. Companies can boost profits by almost 100% by retaining just 5% more of their customers.", pointing out the correlation between customer satisfaction and revenue！