The advent of eCommerce gives the consumer many different options when it comes to online retailers. Even traditional stores embracing an omnichannel business model are able to compete both online and in person. This competitive environment requires companies to go the extra mile to engender customer loyalty.
A retailer’s return policy plays a big role in attracting and retaining customers. The leading companies in the retail space make the return process an easy one for consumers. Let’s look at why it is vital to streamline returns for shoppers to grow a robust bottom line for your company.
In Retail: the Customer Is Always Right
As mentioned earlier, the retail space – online, brick and mortar, omnichannel – is growing more competitive on a daily basis. Companies need to stand out from the pack, and excellent customer service, including an easy return policy, plays a large role as a differentiator between the top companies and those soon to go bankrupt.
In short, a return process that hassles your customer base might end up costing you more in the long run compared to any dollars saved on your expense ledger. If a customer feels you’ve done them wrong by not allowing them to return an item, they may never shop with your company again. Those lost sales – with a potential larger impact due to the customer sharing their experience on social media – affect your bottom line more than the resources spent processing the return.
Premium Retailers Need to Offer Premium Customer Service
Companies that are known for their high-end prices need to provide a return policy commensurate with their status as a premium retailer. This Time Magazine article profiles two customers who, after poor experiences returning products from the Apple Store and Williams Sonoma, felt their loyalty was abused by those companies. One customer never again shopped at Williams Sonoma.
If your company specializes in high-end premium products, your return policy, along with your general customer service, also needs to be top notch. A failure in this area simply leads to fewer customers and fewer sales.
An Easy Return Policy Makes Sense for Smaller Retailers, Too
As smaller retailers are growing their customer base, it is also important for these companies to offer hassle-free returns to consumers. Don’t make a new customer read through a confusing return policy which serves little purpose other than to make that customer regret their purchase – and choice of retailer.
No matter the size of the company, building and retaining customers remains the key to success, even with a higher cost of doing business because of a generous return policy.
A top notch logistics team helps retailers offer a returns policy to make customers happy. As one of the top supply chain staffing agencies in the country, ZDA provides the vetted candidates able to make a difference for your company. Schedule some time with us as soon as possible!