(Image Source: Parcel Monitor)
Online shopping is thriving, and it’s a market that continues to grow year over year. This comes hand-in-hand with the rise of e-commerce returns. For the average business, managing the return process can account for around 10% of total supply chain costs. Nonetheless, having a flexible and generous e-commerce returns policy can bring dividends not only to your consumers but to your business as well.
As such, our media partner Parcel Monitor has collaborated with Rakuten Insight Global to take a closer look at consumer preferences on e-commerce returns. How and why are consumers returning their purchased items? What does an “ideal” returns policy look like? Are “free returns” still a thing? Here are some of the highlights:
- Damaged items, ill-fitting items and items that do not match product description are the most frequently cited reasons for returns.
- When asked what they would like in a returns policy, 71% of consumers said they want free shipping for e-commerce returns.
- There has been a growing demand for returnless refunds which benefits both consumers and sellers in terms of convenience, cost savings and more.
Read the full article here!
About Parcel Monitor
Parcel Monitor is the leading platform for e-commerce logistics insights. By leveraging on our data capabilities, Parcel Monitor creates an open space for the ecosystem to discover, collaborate and innovate.
Through data and the collective wisdom of the community, we believe we can inspire change in e-commerce logistics and deliver a better experience for consumers, merchants, and carriers.