How to Make the Most Out of Returns and Exchanges
The e-commerce platform is flourishing tremendously. With the increase of sales in the market, the return of the stuff is also skyrocketing. As per the survey, people returned last year around 8.1% of the shopping stuff.
Few companies completely reply to e-commerce sales and provide the free return of the product at an increased return rate.
Businesses should strategically handle the return management process to accurately deal with the policy. The outcome will reduce the effect of return and exchange in an excellent way for the growth of the business.
The article will give you a glimpse of the entire return management process and how to practice the exact long run to maintain the business up to its zenith.
The process to return or exchange the stuff and pick it, organizing and calculating back in the inventory in the e-commerce sector is defined as Return Management. The return management process is customer-centric, inventory management, and looking into logistic management deeply.
The fact is that the return policy is not implemented in every good or stuff that you purchase. Once the delivery of the chosen product is completed in such a case, return is not an option.
The return or exchange products are sorted and vetted precisely along with working with the supplier that helps in minimizing the cost of the stuff and adding it back in the stock.
Working of Return Management
The return management process undergoes the return of the stuff depending on the shopping of the stuff either online or in-store. The process that an e-commerce platform undergoes are described herein different stages:
- Unhappy customers with the delivered stuff choose to get a refund or return the products
The return process is initiated when the receiver is unhappy with the delivered products. The unhappiness may be the wrong size or color of the stuff in the case of apparel. It may be the quality of the material or different designs delivered to the customer’s doorstep.
In such cases, the customer chooses to return or exchange the products or sometimes expects to get a refund by following the proper channel to make their work done.
- Company disapproves or approves the refund, return, or exchange of the stuff
The picker from the customer’s door will decide whether the stuff can be taken back or not, following the company return management policy.
They need to check the product precisely and take it to the warehouse to add them to the existing stock.
- The stuff gets picked from the delivery address
The pickup address should be the same along with the delivery address to avoid confusion and difference in the property going back to the stock. In case the companies are following 3PL logistic provider that uses an online the platform for the shipping labels at times of any return of the stuff.
- The returned product is inspected well and sorted back in the warehouse
The selector returns the stuff to the warehouse and picks it from the delivery address. There in the warehouse, the products get organized, sorted, and inspected evidently to calculate it either in damaged stuff or adding in the existing stock wisely.
Once the stuff is sorted and well managed, the auditor will cross-check the returned product and try to resolve such queries as soon as possible.
- The product is added to the inventory and the stock too
Looking into the product’s quality and appropriate condition the stuff is restocked in the warehouse to further sales to another customer in a prominent manner.
Returns Management vs. Reverse Logistics
Reverse Logistics retrieve the return or exchange products along with reusable packaging from the customer and sort them appropriately to deliver the stuff to the correct location.
The reverse logistic process follows the tried and tested method to quickly manage the return process and let the work get started to optimize the returns in a great way to minimize the time and the expense for further delivery.
Like logistic management requires software integration, a technical developer and support team to look into the concerns raised similarly with the return stuff. They need proper setup to be a part of the existing stock with the help of reverse logistics.
The Return and refund policies that enhance the sales.
The return policies take 30 days to return the stuff from the delivery date. There are some eligibility criteria to get the property back from the customer is listed below:
The return products must not be used and should be returned in the appropriate state
The return stuff must be original and packed nicely to hand it over to the picker
The staff should have a bill or receipt of the product as a proof.
The refund will be within 2-3 days directly in your bank account once they receive the stuff and investigate it precisely to process further.
As per the consumer, the return of the stuff affects the customer’s purchasing from a particular brand. Around 73% of the consumers get affected in 2019 to meet their expectations. The brand needs to update its return policies at every interval to attract customers and win their trust and loyalty from the growth of the business.
There are companies like Zappos that deal in shoes and provide one shoe to the customer to check whether it fits or not. If not, they can return the stuff without any cost. Such a process is successful only with the help of a well-established return management process and looks at the quality of the product effectively.
This article describes to you the best way to manage the return management policies and deal with the customer’s queries is a great way to process the return management process effectively without any technical glitches or integral hurdles.
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