While returns have always been a large pain point for both consumers and brands, according to Returnly, the post-purchase payments solution company which caters to direct-to-consumer brands, there is more unsold merchandise in circulation than ever before, due to new pandemic consumer behaviors and the holiday shopping season.
With the goal of alleviating much of the pressure on both the consumer and brands, Returnly’s new In-Store Returns solution has been designed to accelerate the returns process at what is a crucial time for retail. The increased demand for online shopping, the company said, has not only delayed shipping times but extended the returns process driven by increased safety precautions resulting in longer wait times for refunds and frustrated consumers.
“Modern shopper expectations have shifted toward immediacy,” said Eduardo Vilar, founder and chief executive officer at Returnly. “We call them the ‘now customer,’ and brands of all sizes are leveling up to meet these expectations at the point of return. Data shows 73 percent of shoppers won’t shop again with a brand after having a poor returns experience. And the stakes this year are even higher as the COVID-19 pandemic has accelerated expectations for return experiences like curbside or contact-free drop-offs, and package-free, label-free returns.”
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With Returnly’s new in-store solution, shoppers will be able to quickly return online purchases without boxes or labels for immediate refunds. Part of the company’s suite of digital return experiences, In-Store Returns is designed to be turned on and off base on a store’s status, allowing store managers to customize services and messaging and set consumer expectations for the drop-off experience. And at the same time, the company will work with merchants to get items back into in-store circulation or sent to a preferred warehouse.
“Even the most efficient retailers experience dead inventory during the best of times, and the coronavirus pandemic has created new delays and frustration for merchants and customers alike,” said Vilar. “In-Store Returns aims to alleviate these pain points while also creating a new means for safe, positive in-store experiences and strong customer-brand engagement.”
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