If the projections for this year’s holiday spending are accurate, we’re looking at another record. Deloitte expects consumers to spend over $1 TRILLION this year. And with return rates creeping up to 30 or even 40% in some cases, the amount of returns is sure to break records as well.
Most savvy retailers realize that returns are an important part of improving customer satisfaction. In our State of Retail Returns report released earlier this year, we found that 69% of retailers believe that returns are vital to creating a positive shopping experience.
And now we’re revealing exactly what customers think that positive experience entails. In our latest report with WBR, Retail Returns and the Consumer Experience: Leveraging Returns for a Competitive Advantage, we surveyed 600 consumers to gauge their attitudes towards holiday returns, the importance of the store as a vehicle for returns and the impact of return policies on customer loyalty.
Some of our key findings include:
- Retailers should consider greater leniency in their return policies after the holidays.
- One of the most requested features of a return policy is the ability to be flexible when deciding to drop off a return at a store or mailing it back.
- Consumers are more inclined to feel positively about a good experience than negatively about a bad experience.
Want to read more about how you can apply consumer preferences to your own returns strategy?