brands are ready to send back their returns tech
Returns threaten the retail industry. Just ask the NRF, which estimates $890 billion in returns in 2024. Ouch.
Brands want to give customers a great end-to-end experience by providing free returns, but too often, the offer comes with issues. Customers order more than they need and return what they don’t want. Returns are a nightmare to manage, as it’s usually cheaper to throw away a return than repackage it and put it back on shelves. It’s no wonder technology has been built to streamline the situation.
Unfortunately, the tech available to brands doesn’t seem to be helping. Brand leaders tell us that investments in mainstream returns software are barely worth it. Brands note that returns platforms are pricey, service is dismal, and some delays hurt customer relationships.
This holiday returns season should be focused on minimizing pain and expenses and maintaining relationships with loyal and valuable customers. When returns tech doesn’t cut it, communication can ease the pain. Consumers want to know what’s up with their package, so helping them track their return, making sure it’s obvious where they can drop it off, and being upfront about the cost can all be beneficial tactics when your returns platform is lacking.
Besides streamlining customer communication around returns, once the holiday season is over, it might be time to upgrade to a returns platform that will actually deliver ROI next year.
Here’s what brand leaders have to say about their returns tech:
$1B-10B BRAND PORTFOLIO COMPANY
$100M-500M FOOTWEAR RETAILER
$1M-10M SPORTSWEAR BRAND
$10M-100M COSMETICS GROUP