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BizReport : Ecommerce archives : January 22, 2015

3 Questions with Returnly

Returnly is an online platform helping retailers reduce return friction. This easing of friction has been shown to create hyper local customers who return time after time. According to the company merchants using their platform see a 3 to 4 times higher shopper value because those shoppers return more often to buy more items.

by Kristina Knight

Kristina: What is the biggest opportunity e-tailers have in 2015?

Eduardo Vilar, CEO and Founder, Returnly: Surfing the 'convenience' wave: online shoppers have proven to be convenience buyers. Retailers that understand that and add convenience to their offering will win BIG in 2015. -and yes, Returnly builds software that adds convenience to their mix.

Kristina: Over the 2014 holidays more than $48 billion was spent online, what trends are you seeing in how shoppers' spending habits?

Eduardo: 1. Shoppers are mobile first 2. Shoppers in general are not repeat buyers 3. Shoppers would rather buy more items rather than pay for shipping. 'Free shipping for orders above $X' means larger baskets but also drives higher return rates.

Kristina: What trends are you seeing now in the retail space?

Eduardo: The winners » merchants that embrace product returns and build their brands around great customer experience. Companies in this group have clear and quick to understand return policies and lower their customers' cost of returning items, namely: money, time and frustration.

The losers » merchants that would rather not deal w/ product returns and think that by making it hard to return they'll get rid of the problem altogether.

Image via Shutterstock

Tags: ecommerce, ecommerce trends, online shopping trends, Returnly

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