For this episode we’re joined by Jonathan Poma, the CEO and Founder of Loop, a market-leading returns platform used by lots of large brands.
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Tl;dr
- When during the customer purchase journey is Loop being used and why
- A typical integration path for merchants
- The expert’s view on handling exchanges
- Applying business rules to control returns costs and eligibility
Ecommerce returns suck! They represent lost revenue and reverse logistics adds cost and can also impact sustainability. Returns have been rising in the past few years, IMRG found that a quarter of all consumers return between 5% and 15% of the items they buy online. Your returns strategy can also impact sales: many shoppers check the returns policy before placing an order, with 40% saying they will not order a product unless the returns period is at least 30 days.
The good news? The technology has rapidly improved, with several specialist ecommerce returns solutions available to merchants to automate returns management and implement a flexible policy to improve the overall returns experience for customers whilst minimising cost. In this podcast we explore what a good returns strategy looks like and tactics retailers are using to deliver the best customer experience with an affordable and scalable service.
Tune in to learn how Loop is helping retailers improve ecommerce returns management, process automation and customer experience.
Discussion notes
- What’s the typical role of Loop: how does the user journey look for your typical customer?
- How does the integration work for the average use case?
- Is the goal of using Loop typically more operational or is your goal also to reduce the net cost to the business of returns?
- How do carrier integrations help to improve the process for both sides, what types of automation do they enable?
- Exchanges has been one of your biggest selling points for a while – how many people actually make use of this feature? I’ve always found it to be pushed down a roadmap because of considerations around integrations, payments and reconciliation/reporting, but it could be super valuable – what’s your view?
- Do many of your customers offer incentivised options? I’ve seen this a lot more in fashion (so for example get 110% of the value in store credit), have you seen demand increasing more for this?
- Do many of your customers have rules where customers get to keep items without having to return if the cost of return is too high?
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