As the holiday season gets underway, merchants are gearing up for the onslaught of purchases that will undoubtedly accompany the gift-giving season. While purchases spike during the holiday rush, executing an originating transaction does not mean the sale’s lifetime is complete. Returns are an unavoidable part of the holiday season’s aftermath, regardless of why someone chooses to return a gift. Online sellers should have a proactive solution in place to protect themselves against financial loss. There are two ways a seller faces loss during the holiday season, Changes in price and more product returns.
It is very important to reduce the returns to keep up the balance. Return fraud is a major issue, especially after the holiday season, and it can have a significant financial impact on a company’s bottom line. Retailers may alleviate the agony of return overloads even more by tracking each return and having comprehensive visibility and control over these items. Returns that are monitored in real-time assist speed up the resale of merchandise that is in a good resaleable condition. This reduces discounts while also allowing for accurate inventory visibility.
In this blog, we have highlighted the importance of reducing the return and along with that, we have listed some of our modules that help in reducing the returns.
Best Practices to solve the post-holiday return problem
First, find out the major causes of returns and as per our research, product size, fit, lack of product images, false or now reviews are some of the reasons that cause returns. Indecisiveness could be another reason for this. Using some additional plugins could help your customers in making the right choice and finding the perfect product. Here is a short guide for you.
How Size Chart can help in reducing returns?
The bulk of online clothes returns are due to a customer’s dissatisfaction with the fit.
This isn’t just for online clothes store owners. Many products, such as sleeping bags, fishing poles, and furniture, require some sort of fit.
High return rates are frequently linked to size difficulties and this could be a problem when there is huge traffic in the store. The holiday season is one of those days.
To avoid size returns, you can add a size chart to your store. Knowband offers the size chart module for Magento 2, Magento, PrestaShop, and OpenCart platforms.
Product Videos boosts conversion
Lack of product images or not seeing the product physically is another factor that plays a crucial role when you look for the reasons for product return.
Customers buying your product should know the exact details of the product. Writing them is sometimes not good enough. You can provide a video of your product that will surely give a clear idea of the product.
Without any technical assistance or code changes, with product video plugins, you can easily display YouTube, Vimeo, or DailyMotion videos on product pages.
By entering the video URL in the product video form, the e-merchant can effortlessly post product videos. The product video plugin developed by knowband is available for PrestaShop, OpenCart, Magento 2, and Magento eCommerce platforms.
A gift card is an easy buying option
In today’s world, every eCommerce business owner is concerned with how to get customers. In the eCommerce industry, digital gifting is a new trend. Gift cards are gaining popularity among purchasers since they allow shoppers to give gift cards to their loved ones instead of spending time looking for a gift.
During holiday sales, adding a gift card to your products could be a great converting factor. Many indecisive buyers spend hours finding the right product for their loved ones. This sometimes works and sometimes not and the received end up returning the product.
Save yourself and your store sales from this. Instead offer a custom Gift Card option that not only reduces the product returns but also increases customer acquisition rate. When someone gives a gift card to their loved ones it builds trust for the brand among the new buyers and that reduces the chances of return.
Knowband’s Gift Card is very popular among the sellers of PrestaShop, Opencart, Magento, and Magento 2 stores.
Product Review assures the customer
Feedback, consumer testimonials, photos, ratings, and so on are examples of customer reviews. When selling online, make sure you ask, collect and display product feedback on your product pages.
Why miss out on an opportunity? Reviews can help in reducing post-holiday returns. It doesn’t matter what kind of social evidence you employ as long as it’s relevant to your audience.
Most e-commerce websites can get by with reviews and traditional star ratings. Always remember to show real product ratings and reviews.
The truth is that most internet users are accustomed to discovering phony reviews, and some studies have shown that having so many 5-star reviews might affect your conversion rate.
In truth, every customer is more likely to purchase from a website that displays customer feedback. You can also incentivize your customers with discounts or coupons when they drop a product review. Using a plugin like Knowband’s Review reminder and incentive can help.
- Best OpenCart Rating, Review and Incentive Extension to Reward your Customers
- Offer Incentive to collect Product Review and Rating in Magento 2 store
- Powerful Ways of Using Customer Reviews to Boost Conversion
Return Manager can ease your work
Holiday season sales are the best time for online businesses. Even after trying a lot of store optimization, there are chances that you will face some product returns on your store. This increases post-holiday sales due to bulk purchases. To handle these returns, you can rely on proficient software that can reduce all your efforts.
The Knowband Product Return Manager! It is one such plugin that is among the best sellers for platforms like PrestaShop, Opencart, and Magento. It allows the seller to manage refunds, return and order cancellations. It also allows customers to drop messages and add images to support their return reason.
Have a look at the demo of the Magento 2 Return manage plugin here. Click on the links for PrestaShop and Magento Return Manager Plugins.
Reset your mindset for product returns before the holiday shopping season kicks out in full force. Keep in mind that buyers who have a great return experience are more likely to return. Customers who return imply fresh sales prospects. Expect a few more re-sales with a new mindset and strategy, and remember to budget properly. A few modules can help in reducing the returns. Let us know if you find this blog helpful.