The world is starting to pay attention to online returns. And it’s about time!
Recent research shows that retailers who have been sleeping on their returns policy are in desperate need of a wake up call. One U.S. survey found that 72% of consumers will not purchase again from a retailer if they had a negative returns experience*
Further to that, two thirds of shoppers now check the returns policy before making any sort of online purchase!† The very real danger of losing customers to other sites offering a better returns experience, has created a need for retailers to increase their returns offerings internationally.
To help retailers keep up with these exciting changes, ReBOUND has been producing a quarterly benchmark; The Great Returns Race, showing how the top retail return policies stack up. In the latest benchmark, which compared over 200 top retailers against seven key returns metrics, fifteen brands have risen to the top to finish this year’s race in the leaders category. But the two clear winners with the highest ReBOUND index values might surprise you. (The ReBOUND index Value is basically the clever stuff behind how we score each retailer – you can find out more about the methodology behind the study here, if you’re that way inclined)
Spoiler Alert: The Great Returns Race Winners Exposed!
These two retailers have stood out from the pack by making strategic improvements to their customer experience (as evidenced by their high scores throughout the seven metrics in the report).
While you might not be used to seeing them compared so closely– ASOS and Adidas have been identified as industry leaders when it comes to online returns experience!
Since we began benchmarking return policies in Q1 of 2016, ASOS have consistently placed as leaders in their field are now a six-time Returns Race winner! Their clear willingness to adapt to new eCommerce trends has consistently put them ahead of the curve in the online retail sphere and it is no exception for returns. From localised international policies to the introduction of free returns worldwide, ASOS are in no danger of being left behind in The Returns Revolution.
Also making strides to get ahead when it comes to customer-centric returns is Adidas. Whilst their 100 day return window is among the best in the industry, their more recent decision to focus their efforts on improving results in the ease of navigation metric has helped make their returns policy easier to find on both desktop and mobile devices. This is a smart move as around 60% of online shoppers now make purchases on a mobile device.**
Naturally, I think winning The Great Returns Race is a great achievement, but the real win is in delighting customers with an awesome returns experience. So for an example of best-practice returns, look no further than ASOS and Adidas; two very different brands with a shared understanding of how to break down the returns barrier.
Want to find out how to revolutionise your own returns policy? Download the full Great Returns Race report here:
The Online Shopping Customer Experience Study – UPS.*