These days, almost everything that we do in our daily lives has been designed to give us convenience. This is especially true when it comes to the shipping industry and other services related to deliveries. Looking for that new phone that you’ve always wanted? You can get it online with a simple swipe of your finger. Hungry? Deliveries can be brought to your doorstep in no time.
The E-commerce and shipping industry has been working in tandem over the past few years, that this has caused a skyrocket in popularity. Recent studies have shown that online shoppers will usually spend billions of dollars in purchases in just one year alone. In the worldwide market, sales in e-commerce have surpassed around 3.5 trillion dollars in revenue. This makes the E-commerce industry one of the most lucrative industries.
Even during the COVID-19 pandemic, the E-commerce industry has been doing well for itself. This is due to the fact that many individuals will still have access to online mobile applications and delivery services in spite of a public health crisis that has lead to lockdowns.
However, there are still some “downsides” to buying products on digital platforms, one of which is that you won’t be able to see and interact with what you want to buy physically. Many buyers will need to do some research on the product and look up existing user reviews. While everybody is excited to receive that brand new smartphone, earbuds, or clothes from their delivery parcel, there will be times that customers might not be “satisfied” with what they get when it’s delivered to their doorstep.
The last thing that most online retailers want is having their products returned since this means that resources, money, and time are being wasted in the process. According to some studies in Europe, the figures are; higher, with around 40% of customers in the UK have returned at least one product they’ve purchased online. In other European countries, these numbers are even higher.
Of course, most E-retailers would say that this is an inevitable part of the E-commerce industry that people will expect. However, it doesn’t hurt to make adjustments in the business strategy to help effectively mitigate return rates. Here’s what you’ll need to know.
Comprehensively Showcase the Product
First and foremost, you’ll need to invest in better ways of showcasing and marketing your products. Although pictures will usually give customers an impression of the product, this doesn’t necessarily have the same three-dimensional effects that videos have. Videos are known for being one of the best ways of marketing a product and will always be a successful way of convincing users.
Most home shopping channels are known for being successful since they can give a good amount of depth, function, and allure that photos aren’t able to convey. This is especially effective for two types of products that are known for being sold in E-retail stores: fashionable apparel and gadgets. Having an attractive model that can wear your products seamlessly can definitely get the public’s attention. On the other hand, videos for gadgets can effectively showcase important features and applications.
Damage and Loss Mitigation
One important strategy to always keep in mind in the business world is that there will always be factors that will come into play that might cause you to lose money. In the case of the E-commerce industry, returns are considered to be one of the main ways that an E-retailer might lose money.
In reality, business owners will need to consider a lot of factors when it comes to why some customers might return products. Still, your primary concern should be to cushion the losses that you’ll get from returns. Thankfully, some businesses specialize in improving customer experience and satisfaction. There is a reverse logistics solutions provider that can streamline the process and make it easier for E-retail sellers.
Writing A Comprehensive Product Description
There are hundreds of businesses looking for ways to be the first listing on the search results page. Search Engine Optimization is the best way of getting your product on the first part of the search results page. But even though you might have the publicity that you’re looking for, you’ll still need to deliver on your product’s “promise.”
That said, one of the best ways of reducing the return rate is by having a detailed description that will stay true to what the product will do. Still, you’ll need to make sure that the person that’s writing about your product.
There are a variety of ways to reduce the return of items for your business. It’s crucial to remember that there’s no one reason why customers return products. Still, adapting to an ever-changing target market is one of the best ways of reducing the rate of return for your business.