If you operate an online store that does any substantial amount of volume, then you already know how crucial it is to get customers to close the deal when they are viewing a shopping cart. But what you may not be aware of is the fact that a large percentage of your shopping cart abandonment rate could be directly linked to your returns policy; it’s a key factor cited in ecommerce returns statistics these days.
Fortunately, there are some ways that you can learn more about ecommerce returns statistics and use these facts to help make improvements to your online store. Take some simple notes on the following fast facts and apply the knowledge that you gain into improving your returns policy so you can attract more sales today.
30% Of Ecommerce Products Are Returned
Several news reports, including ABC and WSJ have covered ecommerce trends in recent years. Both mediums have found that it’s rather cut and dry: about 30% of all products that are purchased online will be returned by consumers, any way that you cut the cake.
66% Of Shoppers Read Your Returns Policy
Just how important is your returns policy to your shoppers? Pretty important. A UPS study found that over 65% of them read it before they make a purchase. What’s more, about 87% overall take the time to read your policy. So make it count with your customers.
65% Of Returns Are Not The Shopper’s Fault
While it may be easy to blame the customer and say that they shouldn’t have ordered something that they didn’t want, such is usually not the case. Over 65% of the time, a product is returned because of the merchant, not the consumer. Damaged items, wrong item being shipped and dead on arrival items comprise most of this list.
Inconvenient Returns Deter 80% Of Shoppers
How convenient is your returns policy? A ComScore study found that over 80% of shoppers won’t want to shop at your store now or in the future should your return policy be a hassle. Basically, if the returns are not as simple as they are on Amazon, which takes minutes, shoppers won’t be loyal to your store.
81% Of Shoppers Want Simple Returns
In par with the previous mentioned ecommerce returns statistics, 81% of shoppers want simple, fast and easy returns. And many will search for these before deciding to do business with you.
79% Of Shoppers Want Free Return Shipping
If you do not offer free return shipping, say goodbye to a lot of prospective customers. That’s because they know that they can easily find it at another store. In fact, over 79% have stated in recent polls that this is a determining factor with them doing business with your brand or not.