Sales, Shmales; Return Policies Could Define This Holiday Season
A distinct message is arising from the purr of retail traffic this holiday, and for merchants paying close enough attention it is this: Delivery is a two-way street. Retailers expect shoppers to return 13% of purchases during this holiday season, according to the National Retail Federation (NRF); that’s up from 8% in 2015. However, even more shoppers — particularly online shoppers — are choosing where to buy based on how easy it is to return an item, or deliver it back. Two-thirds of shoppers review an online merchant’s return policy before making a purchase, according to research by UPS, and 15% abandon their carts when the policy is unclear. These deserted carts represent more than unrealized sales; they also stand for the next big make-or-break feature for retailers: the return experience. From Wal-Mart to a startup by former Nordstrom executives, more merchants are finding opportunities to stand apart in the return process, by elevating it from a necessary evil to a recognized asset of the purchase experience. Read more at Forbes.
