Return-led behaviour is a rising tide, some will drown
Against an already tight backdrop of shrinking margins, increasing interest rates and reduced consumer spending, how can retailers reduce return purchase rates, streamline operations and increase a customer’s lifetime value? Wunderkind’s ANZ country manager, Jamie Hoey, explores.
Despite being a number of years out of lockdowns, the pandemic maintains a significant stronghold over the way we work, shop and live. The past couple of years has seen the pendulum swing from entirely digital, back to instore, and now is seemingly starting to equilibrise.
When online shopping, consumers have come to expect convenience, variety and enhanced web experiences alongside additional benefits such as free shipping and hassle-free returns.
Customers make returns for a variety of reasons – damaged items on arrival, receiving the wrong item, sizing, unmet expectations. According to Statista, the most returned online purchases in Australia are clothing (16%), followed by bags and accessories, and shoes (both at 11%).
