The retail space has changed hugely over recent years; we have seen a whole industry open up to so many new entrants in the form of eCommerce websites which have taken a substantial market share from traditional brick and mortar stores. One thing remains constant for both channels however and that is the issue of customer returns. Customer returns pose all manner of issues for both online and offline retail ventures.
They cost the company huge amounts of money but they’re a necessity all the same and if they don’t exist, they can cause huge issues amongst valuable customers. That’s why it is important that businesses recognize the importance of having a robust and stable returns policy in place and not just treat it as a simple concern. While returns are inevitable in retail, dealing with them efficiently can turn things around. The guys at Store Traffic have put together this infographic below which investigates the whole area of returns; it looks at some interesting stats; it explains the concept of “reverse logistics” and lots more. Check it out below.