Over three quarters (78%) of US consumers say they’re likely to return packages to a convenient, attended location inside, according to a June 2024 survey from Narvar. Nearly as many (71%) would use home pickup for their returns at a time they select.
The average cart abandonment rate worldwide was 73.9% in the 12 months ending July 2024, according to data from Dynamic Yield.
Amazon returns partnership is a huge hassle for Kohl’s, Staples employees: Despite an increase in foot traffic, the constant deluge of packages fails to deliver the expected sales bump.
Amazon’s pricing and returns policies draw complaints from sellers: Merchants flag lost revenues, higher fees, and inadequate seller support as reasons for their discontent.
“When retailers can offer a delivery experience that the consumer expects, the consumer is less likely to abandon their cart,” said our analyst Blake Droesch. More than one-third (36%) of US consumers abandoned an order last year because shipping costs were too high and another 29% did so because their items wouldn’t arrive on time, per an August 2023 report by Digital Commerce 360.
Ecommerce growth accelerated during the 2023 holiday season as US consumers shifted more of their shopping to mobile devices.
An extended returns policy is the No. 1 experience-based reward that US adults would be most interested in receiving from brands, per Ebbo’s October 2023 survey.
Online return rates are finally coming down from recent highs. But as ecommerce's share of retail sales grows, so will returns from online sales.
On today's podcast episode, we discuss how Walmart plans to use AI to enhance the customer shopping experience, Instacart pushing smart carts into in-store retail media, why consumers are dissatisfied with their in-store shopping experience, how best to reduce clothing returns, the rise—and potential fall—of the Marvel Cinematic Universe, and more. Tune in to the discussion with our vice president of content Suzy Davidkhanian and analysts Blake Droesch and Carina Perkins.
To help keep return volumes down, retailers are trying everything from implementing return fees to ensuring product descriptions are as accurate and detailed as possible. But there are still a couple of out-of-the-box solutions that they could try, like leveraging peer-to-peer solutions to cut down on logistics costs or being more cautious around inspiring impulse purchases.
The network also forecasts a surge in ecommerce returns, per its 2024 economic outlook
A generous return policy can encourage consumer spending and inspire loyalty. On the other hand, a policy that makes it more costly or inconvenient for customers to return their items could sting a retailer’s bottom line. Here are some short- and long-term ways return policies can affect retailers, and ways to avoid charging customers a fee to cover return costs.
81% of US adult digital shoppers review return policies before making a first-time purchase, and 55% will abandon their cart if return policies aren’t convenient, per a Happy Returns report commissioned by PayPal.
The new year is just around the corner, and it’s a great time for retailers to take stock of what worked and what didn’t in 2023 and stay informed on what consumers will expect in 2024.
Holiday retail sales will grow by approximately 4.5% in 2023, a slight increase from the previous year’s 3.9% growth, according to our June forecast. While this growth may not seem significant, it would represent the sixth-fastest growth rate in holiday sales in the past 15 years, according to our forecast.
Brands must balance personalization with privacy considerations and ensure product pages are comprehensive and complete. Lower-funnel ad tactics and easily accessible shipping and returns info also help to encourage purchases. Here are four strategies to boost online conversion rates.
Holiday retail sales will grow 4.5% to reach $1.317 trillion this year, according to our forecast. Retailers who want to carve out a share of that spend will need strong promotional strategies and a seamless digital-physical experience. It’s also not a bad idea to have a plan ready for when the returns start rolling in.
The top two reasons shoppers worldwide buy directly from brands are a better price (53%) and free delivery (49%), followed by fast and convenient delivery and free returns (both 36%), according to Wunderman Thompson.
Most consumers use online marketplaces to find products, but the number who are browsing in-store or on social media is growing. Retailer websites are where customers go for product research. And when it comes to purchasing, price and delivery options are the most important factors.
Free returns are becoming more elusive: Retailers are turning to final sales more often to get rid of unwanted inventory and eliminate the possibility of returns.
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