Returns and exchanges are an inevitable aspect of retail, and that is truer now than ever. Studies show that e-commerce has up to three times the return rate of brick and mortar retail. Stores that pivoted to online sales or curbside pickup during coronavirus closures may be facing an influx of returns once they reopen. Even stores that fully closed may have lingering pre-closure returns.
As they reopen, retailers will have to adjust or develop policies on returns and exchanges, focusing on the customer while keeping employees safe and maintaining the bottom line. Total Retail offered a few tips, which we’ll summarize below.
Extend Return Windows
Even after stores reopen, many consumers will be reluctant to go out and shop for non-essential items. As such, they may hesitate to buy in fear of missing a return window. By extending return windows (or eliminating the window altogether), retailers will make consumers more comfortable and willing to make a purchase.
Allow Easy In-Store Returns on Items Purchased Online
Many return policies differentiate between online and in-store purchases, prohibiting cross-channel returns. This is a good time to eliminate those boundaries. Returns significantly impact customer satisfaction and brand loyalty, so it’s in your store’s best interest to make them seamless. A point of sale system can help track items purchased and returned across channels, so this is a great opportunity to upgrade.
Be Prepared for Increased Returns and Exchanges
Consumers have been at home for several weeks, so it’s likely that returns are piling up. Make sure you have the staff and space to handle an influx of returns and exchanges as they come in.
Want to learn more about how a point of sale system could make your return and exchange process easier? Contact Retail Tech today.
Retail Tech carries a wide variety of new and refurbished point of sale hardware and equipment. We offer installation and staging, retail POS system repairs, and more. If you need help choosing a hybrid POS solution, contact our POS systems specialists for help finding the perfect point of sale solution for your retail store, restaurant or other small business.
