Return Management Process: How Unicommerce Makes it easy

Market research shows that more than 8% of the products purchased in 2019 were returned. The rate of return was recorded to be even higher for e-commerce sites offering free returns. However, for enhancing the customer experience, more and more businesses are now offering free returns.

Hence, managing the returns becomes a big operational challenge for businesses that often results in huge losses for them.

That’s why the return management process plays a crucial role in optimising the impact of returns on business revenue while keeping the customer experience intact.

What is the Return Management Process?

To efficiently handle product-returns, retailers create a process through which they either provide a full refund or exchange the product. This process is called the return management process. It also includes the decision on what to do with the returned product.

It is a crucial part of the supply chain and impacts warehousing, inventory management, ROI, etc. Without the right return management process, the retailers and businesses may see a decline in profits.

Optimizing Return Management System

Let’s explore some of the best practices to make the return management system more efficient.

· Create an Easy-to-Understand Return Policy

Customers consider a purchase confidently when they know that there is a return policy. It can increase product sales and help in earning customer loyalty.

Hence, create a simple and clear return policy that mentions every single detail related to the return of the products, such as:

• Which products can be returned and which not?
• What is the time duration to return the product?
• Will the delivery charge also be refunded?

The return policy must answer these and many other questions so that the customers don’t have to contact the support team for everything. It will save time and resources.

• Inventory Management

Efficient inventory management solutions can help in managing the inventory in real-time even when the rate of returns is high.

The returned products affect the physical inventory, digital inventory, as well as accounting systems. The use of return management and inventory management system can make the process efficient.

· Talk to Your Team

In case the products are being returned constantly because of damages, then talk to the team who processes the returns. This can, in many cases, reduce the rate of returns.

· Return Management Automation

Automation can help in optimizing return management processes while reducing the cost of processing and logistics. But, how to automate return management using the software?

The use of reliable return management software can:

• speed up the return processes
• reduce return-processing costs
• optimize value recovery
• enable a faster and systematic experience for customers.

· International Orders

For retailers selling their products internationally, accepting the returns can be costly. One way to make this process efficient is to discuss the return policy with third-party service providers or warehouses there. The returned items can be kept on hold at the warehouse and reshipped when there is a new order.

Wrapping up:

While it’s almost impossible to avoid all the product-returns, it’s possible to optimize the return management process. Retailers around the world are utilizing the above-listed ways to make their return management more efficient.

Know more ways to optimize return management? Let us know using the comments section below.