Managing Returns: An Opportunity for Growth

According to the US National Retail Federation, 9.9% of customer’s purchases come back.  Most retailers would rather not deal with returns, but returns have become part and parcel of any business.

Retailers should master how to manage returns and use this opportunity to improve their customer service for better business practices. Instead of seeing returns as a liability, you can begin looking at it as an opportunity for business growth.

An Opportunity to Gather Customer Insights

Returns give you an opportunity to gather information about your customers, your marketing strategy, and products. Gather feedback every time you process returns so you could improve your sales methods and strategy.
Inquire from your customers why they’re returning the product and use the insight to improve. Maybe you need to add some features to your products, or it could be a question of costs. Customers return products for various reasons, but you won’t know if you don’t ask. The experts at ReverseLogix explain that a reverse logistics platform can help you check the flow of materials, goods and cash in the company.

Set and Go Beyond Customer Expectations

When customers come to your store to return an item, welcome them with open arms. It is an opportunity for them to find something else that interests them. You can accommodate them and give them a better experience. When you do this, there’s a good chance they’ll come back for shopping.

Improve Your Return Policy

Improving your return policy will help prevent the occurrence of the same mistakes. Loyal customers expect some flexibility with a return policy, so make sure that you provide layers of quality assurance to make sure that it does not happen again.

When formulating a return policy, do so from a marketing perspective rather than just from a legal perspective. You shouldn’t formulate policies that make you lose customers.

When managing returns, one easy way to ensure that your customers keep coming back is to over-deliver. Make them feel valued and assure them that their requests are heard. Understanding reverse logistics gives any business owner the knowledge to manage and control the flow of money and materials.