Intelligent SME.tech Issue 49 | Page 19

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& accessories ( 34 %), electronics ( 21 %) and home & kitchen ( 18 %).
Offering a discount or incentive for a future purchase can persuade customers to keep items they might otherwise return . In fact , 47 % of respondents said they are likely or very likely to keep a product if given such an offer , highlighting the importance of this strategy for retailers . When asked how much they would be willing to pay to return an item , 39 % said € 1 –€ 4.59 , 11 % said € 4.60 –€ 9.15 , 6 % said € 9.16 –€ 13.74 , 4 % said € 13.75 –€ 18.30 , while 27 % said they would not return an item if there was a fee .
Third-party returns
With convenience and cost a greater consideration than ever , consumers are showing clear interest in third-party returns services ( such as a drop-off location , mailing service , etc .). When asked what factors would make them use a third-party returns service , 40 % of consumers said lower or no shipping fees , 35 % cited the convenience of drop-off locations , 31 % said faster refund processing , 31 % cited assurance of hassle-free returns and 29 % said reliable tracking and confirmation of returned items .
“ Where the goal is to mitigate the cost of returns , retailers should be looking for ways to do more than tightening their policies to reduce returns rates ,” said Robinson . “ Gathering data and automating intelligent decision-making for every return will bring costs down through more efficient transportation and reduced waste without impacting the customer experience . That data is also incredibly valuable to reduce returns rates , helping retailers to see the patterns of which items are returned , by which customer segments and why , and to act accordingly .”
Sustainability plays a factor in returns
A majority of consumers are dedicated to sustainable returns habits , with 53 % saying they are very or somewhat concerned about the environmental impact of returning items . When asked what action they would take if they knew their returned item would go to a landfill , 25 % said they would seek an alternative , ecofriendly disposal method , 34 % would attempt to resell the item and 24 % would continue with the returns process as planned . �
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