Return Policies Shown to Impact Consumer Loyalty and Purchases

A lot of work is done to optimize the customer journey, but with all of that having been said and now out of the way it is important to note that the post purchase journey is also crucial. Loop’s recent survey revealed that return policies are an important aspect of the post purchase experience because of the fact that this is the sort of thing that could potentially end up improving the loyalty that customers feel towards brands.

97% of customers said that they like brands with flexible return policies since this gives them the impression that the brand cares about its consumers with all things having been considered and taken into account. Additionally, 96% of consumers who participated in this survey stated that they read the return policy before making a purchase, and 54% said that they might avoid buying products from brands whose return policies are too rigid.

Returns can allow brands to gain repeat customers, with 87% saying that such incentives would make them more likely to buy from a brand again than might have been the case otherwise. 52% also stated that they enjoyed post purchase vouchers which is another useful tool for brands to use.

In spite of the fact that this is the case, most brands are not willing to make product returns easier for customers. Customers want easy, environmentally friendly return options, and with 80% of customers saying that they plan to reduce expenses due to inflation brands might need to address their concerns and reap the benefits of having gained their loyalty once all has been said and is now out of the way.

43% of consumers said that returns were too time consuming and required too much effort, and 42% said that they would prefer a drop off option that would allow them to get the product shipped back to the retailer. Only 18% said that they preferred to go directly to the store to drop returns off, and brands are currently only catering to this minority due to their short sighted viewpoint which absolutely must change if they don’t want to end the year on a loss.

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