With the recent increase in online purchases and the overall importance of the upcoming holiday season, now is the time for brands and retailers to prepare for an anticipated flood of returns with a holiday 2020 returns readiness checklist.
Between store closures and safety concerns related to COVID-19, a shift to e-commerce this holiday season could lead to significantly higher ecommerce return rates in January – up to 3x more than brick and mortar purchases2. To prepare for this, our returns-ready checklist can help you improve your customer experience, grow topline revenue, and reduce operational costs.
If you’re considering new ways to drive growth with returns, consider investing in returns technology that can make initiating, processing and reselling returns seamless. Optoro’s complete returns solution consists of three products that help retailers optimize their returns strategy:
A returns portal that offers automation and turns returners into repurchasers by presenting them a one of a kind instant credit to use with retailers right away, with no additional financial risk to retailers3.
- Make returns a breeze for customers during a stressful time with a portal designed to delight: 91/100 CSAT
- Turning returners into exchangers: save 3x more sales
- Drive topline by incentivizing more spend via instant credit: 32% lift in Average Order Value
- Save marketing dollars through seamless re-engagement: 64% of credit repurchases captured after the return session
A specialized returns SaaS technology and outsourced processing service that relieves pressure from supply chains while enabling flexibility to insource it later on.
- Full supply chain flexibility and agility during a high-risk time period
- Drive full-price sales and reduce logistics costs via turnkey drop shipping for returns
- Freeing up space and labor and increase profitability with automated routing
Turnkey B2B and D2C secondary channels to resell your returns at the highest value.
- Maximize sell-through and recovery
- Relieve space prior to and during holiday
- Provide additional margin and outlets post holiday as returns surge
Source 1: Winter Holiday FAQs | NRF 2020
Source 3: Optoro + Returnly Client Performance Data & Analytics (2019/2020)