Key data: According to EBBO's October 2023 survey,:Extended return policyis the experience-based reward that U.S. adults are most interested in getting from brands.
According to a survey commissioned by PayPal in August 2023 conducted by Happy Returns, we found a surprising phenomenon:More than half (55%) of U.S. digital shoppers have abandoned their intent to purchase due to the inconvenience of return policies。This undoubtedly reveals a problem, namelyReturn policies have a significant impact on consumers' purchasing decisions
However, a survey by Blue Yonder in December 2023 came to the opposite conclusion:Instead of extending the return window, 42% of retailers have shortened the return time。This undoubtedly brings greater inconvenience to consumers, and further affects consumers' shopping experience and loyalty. For retailers, creating a more flexible return policy is not only an effective way to improve customer satisfaction. Many sellers are worried that extending the return cycle will lead to the product being "prostituted" by consumers, such as returning clothes that have been worn by consumers for two or three months after they have been sold. However, in the long run, a flexible and friendly return policy will attract more consumers, which in turn will lead to increased sales. As a result, retailers should revisit their return policies to treat consumers in a more humane way. By offering more flexible return options, retailers are not only able to improve customer satisfaction, but also increase consumer confidence in their purchases, which in turn boosts sales.