Are you an E-Commerce entrepreneur? Yes! Business is booming for your industry because of the pandemic, as many among the general public prefer to shop online. The competition is tough, but your E-Commerce site has made inroads and you are making profit. The reason, you sell quality products, and have recruited an excellent team. But, of late, you find a reduction in profits, and when surveyed, the auditing team finds it is due to products returned from the customer. In this article, let us discuss the methods to enhance your e-commerce consumer return policy.
As a retail owner, you need to accept the fact, product returns can happen in any business, online or offline. Yet, you can turn the odds in your favour by improving your E-Commerce customer return policy. Please check the top four points that have been time-tested by E-Commerce entrepreneurs to optimize their revenue.
1. Transparent Policy
Your E-Commerce store should contain links of your Customer Return Policy in prominent locations on every web page. The links should be easy to find and the content should have a step-by-step summary about the ways to handle a return. Words conveying the message in a friendly tone displayed with icons & images can go a long way in enhancing the customer experience.
2. Time Limit
You need to have various timelines for different products. For a Specs Frame, you can give the customer a 30 to 90 day return time. Also, you need to inform your customer care team not to follow the harsh rules. If a customer wants to return the product on the 31st day for a 30-day policy, you need to honour the customer’s expectation. You can end up getting a loyal lifetime customer for your products.
3. Refund Policy
You need to provide information on the type of refunds, exchange policies, or store coupons to purchase for another product or other options in your return policy. You prevent the blame game if the customer knows the specific conditions.
4. Free Return Shipping
Majority expect the E-Commerce retailer to provide free return shipping for the products. Yes, your profit can take a hit, but you can reduce the burden. You can state, that free return shipping is available if the consumer purchases products above a specific sum. By this method, you will not be losing more money on return shipping when compared to the value of the products.
Before making any changes in the existing Customer Return Policy, check the competitor’s websites and the Government Laws. Select the best part, ask your content writers to rephrase in their own words and then publish in the website. But, you should keep changing the terms and conditions as per the recent trends. Instead of visualizing the return as the end of relationship with the customer, work on the process by offering a never-before relaxing experience which can make him/her come back for more and become a part of your loyal online community.
It is well-known E-Commerce industry is worth billions of dollars. However, if you plan to become an entrepreneur via this industry, you need to have deep knowledge of the consumer return policy to gain profits. Are you surprised? Read this article to know the details.