Complete the Omnichannel Picture: Why Retailers Who Focus on Returns Are at a Competitive Advantage
With upwards of 30% of all e-commerce orders resulting in a return, most retailers want an omnichannel return strategy that supports a seamless return experience for consumers. Supply chain managers should be able to handle returns with ease with a comprehensive omnichannel return strategy.Imagine a retail environment and supply chain free from the challenges of returns where every sale is an experience that matches what the consumer wants, where the returns process is nearly problem free for both e-commerce and brick-and-mortar sales alike. Of course, this is easier said than done as, according to industry benchmarks, returns are no-where near perfect as reported by Business2Community. Consumers return up to 30% of all online purchases, and up to 40% for apparel purchases. Consumers do not care about the difference in handling online versus brick-and-mortar returns, but they do care about costs and ease of returns. Supply chain executives at retailers need to understand the invaluable role the right omnichannel return strategy plays in achieving success in an omnichannel world.