Weak returns policies mean huge rates of cart abandonment – report

And that’s not the only problem facing digital retail. While 49% of UK consumers say they return products when they are not satisfied, 67% also admitted to abandoning their online orders when there is no return policy available, according to research by Sendcloud.With returns often costing time, money, and involving plenty of paperwork, both retailers and consumers alike are finding returns a headache to deal with — 58% of UK consumers indicated that returns are a big hassle to them. 

Meanwhile, 55% of consumers believe it is up to the retailer to arrange and pay for a product return, with 75% expected to be reimbursed within a week of sending items back.Also, the lack of a clear returns policy “is becoming a missed revenue opportunity for online retailers”, Sendcloud said. It found 75% of consumers said they would order more frequently at stores if they offered free returns, while 71% said the same if returns were made quick and easy.The most important aspects of the returns policy to consumers were the cost (70%), providing a returns label (61%), and information on when they can expect to receive a refund (53%).“Retailers often preconceive the returns process to be a real headache and are sometimes tempted to make their returns policies more complicated in an attempt to reduce returns,” said Rob van den Heuvel, CEO, Sendcloud. “However, the exact opposite is true as our research has proved that a simple and clear policy is actually key in driving conversions. In fact, what we’ve found is that retailers which offer a longer return period result in fewer returns because customers are less concerned with the product that still has to be returned. All in all, a simple and clear return policy actually pays off.”  

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