How Returns Can Be a Retail ‘Superpower’
February 28, 2023
Product returns are notoriously costly for retailers to take in and process. But returns are also a valuable tool companies must take advantage of, ReverseLogix CEO, Gaurav Saran, told Digital Commerce 360.
ReverseLogix is a returns management system designed to streamline the return experience for customers and reduce costs for retailers. Fortune 500 and 100 companies including Shopify, FedEx, and Samsonite are customers.
To offer free and low-cost returns, retailers must process them efficiently. If customers are happy and data is used to make improvements, they can actually be a “superpower,” he said.
Saran shared ReverseLogix’s three principles of returns:
- Transform a difficult process into an enjoyable experience for loyal customers
- Minimize losses
- Maximize intelligence
The key to achieving these principles is integrating returns into every part of an ecommerce business, Saran said. Returns impact customer success, manufacturing, and supply chain teams, he said, so you have to think about returns every step of the way.
The retailers that can do this successfully are able to integrate returns into the creation, shipping and purchasing process. In some cases, with the right data and processes, retailers can “convert a loss maker into almost a profit center,” he said.
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