Are you an e-commerce entrepreneur? Yes! Business is booming for your industry due to the pandemic as many members of the general public prefer to shop online. The competition is tough, but your e-commerce site has made inroads and you’re making a profit. The reason, you sell quality products, and have recruited an excellent team. But, lately, you see a reduction in profit and when questioned, the audit team finds that this is due to the products returned by the customer. In this article, let’s discuss methods to improve your e-commerce customer return policy.
As a retail business owner, you need to accept that product returns can happen in any business, online or offline. However, you can turn the odds in your favor by improving your E-Commerce customer return policy. Please check out the top four points that have been tested by e-commerce entrepreneurs to maximize their revenue.
1. Transparent Policy
Your e-commerce store should contain links to your customer return policy in prominent places on every webpage. The links should be easy to find, and the content should have a step-by-step summary of how to handle a return. Words conveying the message in a friendly tone displayed with icons and images can go a long way to improving the customer experience.
2. Time limit
You must have different lead times for different products. For a spec frame, you can give the customer a 30-90 day return period. Additionally, you should inform your customer service team not to follow the strict rules. If a customer wants to return the product on the 31st day for a 30-day policy, you must meet the customer’s expectations. You can end up getting a lifetime loyal customer for your products.
3. Refund Policy
You must provide information about the type of refund, exchange policies, or store coupons to purchase for another product or other options in your return policy. You avoid the blame game if the customer knows the specific terms.
4. Free Return Shipping
The majority expect the e-commerce retailer to provide free return shipping for the products. Yes, your profit may take a hit, but you can reduce the burden. You can declare that free return shipping is available if the consumer purchases products above a specific amount. By this method, you will not lose more money on return shipping compared to the value of the products.
Before making any changes to the existing customer return policy, check competitor websites and government laws. Select the best part, ask your content writers to rephrase in their own words, then post it to the website. But, you should keep changing the terms and conditions according to recent trends. Instead of viewing return as the end of the relationship with the customer, work on the process by providing a unique, relaxing experience that can keep them coming back for more and becoming part of your loyal online community.