Return and refund policy serves as the most important factor when it comes to choose an online shopping platform and numbers prove it. 95% shoppers prefer buying again from the same platform they had a better and convenient exchange or return experience. And they’re likely to spread positive words about you if they have experienced your return or exchange with you. Furthermore, online websites with 40% repeat customers generate 50% more than similar online sellers.
But, I know returns can be expensive and leave a damage to your profits: returns cost 2 to 3 percent points of total online sales. However, there are ways you can leverage returns in both yours’ and customers’ best interest.
Regardless of how your returns work, multiple steps can be taken to reduce the stress. Just keep in mind the most common reasons that customers return products: View in detail here:
Read here for full detail: 11 Best Practices of Return and Refund Policy