Handle a product returns in-store have become a necessary feature of many retail operations. The in-store product return processing has some critical parts, and we’ve got four recommendations to assist you and your customers get the most out of it.
What is product return?
A product return is a common occurrence in the retail industry where a customer decides to bring back a purchased item to the merchant for various reasons. This process typically involves the customer receiving a full or partial refund in their original payment method, exchanging the initially purchased product for a different or similar item, or obtaining store credit for future purchases.
There could be several reasons for a customer to return a product, such as dissatisfaction with the product’s quality, size, color, functionality, or simply a change of mind. In fact, Invesp finds that about 30% of all products ordered online are returned, and around 8% of items bought in brick-and-mortar stores are brought back.
To ensure a seamless product return experience in retail, store owners need to be aware of a few crucial tips. These tips should potentially reduce future returns.
4 tips for efficient product return management
Introduce clear return policies
When a consumer takes an item into the store and requests an exchange or refund, the salesperson must confirm the request. They’ll need to verify that this item was purchased from your shop. A receipt is the most typical type of proof.
There are extra criteria for some goods. When it comes to video games, for example, the original packaging must be present. Clothing products with tags and labels that are still attached and show no signs of wear or stains may be acceptable.
The product return process becomes incredibly simple and efficient using ConnectPOS, a versatile point-of-sale system that streamlines numerous tasks for retailers and customers. Among its various features, the refund calculation process is particularly seamless, allowing for a convenient and hassle-free experience. For instance, customers can place their orders online and collect them in-store, ensuring the utmost convenience.
In addition, ConnectPOS handles refunds and exchanges in physical locations with great proficiency. This is achieved by allowing customers to use the store credit as a form of payment. Doing so should lead to more flexible and positive interactions between customers and businesses.
Recent statistics reveal that a user-friendly return process can significantly boost customer satisfaction. According to Invesp, 92% of consumers will buy again if the product return process is easy. By employing ConnectPOS, businesses can effectively capitalize on this opportunity to nurture customer loyalty.
Track return rates
Returning something to a retailer does not have to be the end of the world. It’s an unavoidable component of the retail industry and a vital data point for merchants. Retailers can spot possible difficulties in their company by tracking data on in-store product returns.
For example, many buyers purchased items online but afterward returned them because they were the wrong size. This means clients are having difficulty selecting the correct size while shopping online. So it would be better if the manager added a sizing guide on the website.
Offer store credits or gift cards instead of cash/card refund
Unused shop credits or gift cards may be fantastic brand reminders, encouraging customers to return for more purchases. If you can’t find the original order, it’s also an excellent alternative to cash.
This is especially useful if the buyer is a regular of your brand but is dissatisfied with a certain product. They get the amount added to their shop account or a fresh gift card instead of moving money back and forth between their bank account and yours. Customers will find it easier to make their next purchase with more store credits. They may give their friends and family gift cards, promoting your company to new buyers.
Prepare backups in case of a return without receipts
Customers can return merchandise without a receipt or after the return period has expired under consumer rights rules. Accepting returns without receipts can also improve consumer satisfaction. It encourages them to stick with your brand rather than move to a rival.
Make it easy to locate an order inside your retail system so you can handle product returns without receipts. You may search a customer’s order history by collecting their email and phone number. There’s also the ability to track each product’s serial number. If the cashier cannot locate the original order, the store manager must decide whether or not to accept the return.
Generally, preparing backups, especially in a retail setting, can make for streamlined product return processing and even increased repeat business. This approach is indeed essential for successful retailers.
Retailers can transform in-store product returns into a positive consumer shopping experience while also gaining vital data. So if you are still wondering about this problem, call us now to set up the best policies for your business.