Online product returns are not the nightmare that they’ve been painted out to be for e-retailers. No longer should they be viewed as a costly addition to the bottom line or a logistical maelstrom. In fact, they should be viewed as quite the opposite: A way to better connect with customers, remarket to them and improve loyalty, retention and long term sales.
As of early 2015, emarketer report had pegged e-commerce to be a $1.5 trillion dollar international business. Fast-forward to the present day, and experts are predicting that e-commerce will have grown into a much larger beast, accounting for nearly $2 trillion in annual revenue.
The truth is that online retail returns and e-commerce go hand-in-hand. Customers will return items that they buy from time to time, and the e-retailers that do not accommodate these consumers and simplify the process stand to lose out on future sales and growth opportunities.