No engineer shows up to work without a long list of tools that they keep in their chest, and the same mantra goes for e-retailers, too. Tools for ecommerce, of course, are not fashioned for building or maintaining something like an engineer would. But they are equally as effective to your industry.
Thanks to newer technologies, e-retailers have a variety of different tools that they can use to help reduce their cost, improve their bottom line, boost retention and increase customer loyalty. Combined, these inscribe the very tenants of ecommerce success; and are an inherent aspect of the most viral success stories you’ve ever heard.
So what kind of tools could you use to better manage your online business? We’ll discuss several that can help you protect your bottom line. We’re basing these tools on the most recent 2015 ecommerce product returns statistics, just so you know. Since much of shopping cart abandonment has to do with a returns policy and order management, we’ll focus on tools that can help you improve this vital aspect of your online store.
Order Management System
Orders will come in and out of your system all the time. How you choose to manage them will affect your bottom line. One of the reasons why returns are made by consumers, in over 20% of all instances, is simply due to the wrong item being received.
To counter this, an efficient order management system, like OrderMotion and others, can help you improve order accuracy. Using a ticketing system and a more accurate fulfillment model, you can effectively reduce order shipping errors by a large margin, and thereby reduce the rate of returns and increase customer satisfaction.
Integrated Sizing Apps
Studies have revealed that about one-third of all products are returned from online purchases. For clothing retailers, this can be a real thorn in the foot. When it comes to selling clothing, you must accommodate for the fact that the shopper is unable to try on the clothing or see or feel it.
Newer sizing apps like Virtusize help your shoppers determine their accurate dress size. About 35% of apparel is returned online, the highest rate of returns in ecommerce. By using this tool, companies like ASOS were able to reduce returns on clothing by a staggering 50%… and so can you.
Apparel Returns Software
Over half of your prospective customers will read your returns policy before they decide whether or not they are going to make a purchase from your online store. If you offer easy returns, over 90% are likely to make a future purchase. If you make returns a hassle, over 80% are likely to never shop at your store again.
Newer apparel returns software solutions like TrueShip’s ReadyReturns let customers process returns directly from your website. The software plugs in like any other app, enabling customers to process a return and print a return shipping label, saving you time and money and preventing them from becoming frustrated over your returns policy.
The stop-and-go nature of the online world is unforgiving when it comes to creating a winning business model. With a high rate of returns plaguing ecommerce, you have only one chance to win over customers’ loyalty for the long haul. Make sure you utilize the wonderful array of tools that you have at your disposal to preserve reputation, attract more customers and increase retention and loyalty.