Unravelling the hidden costs: effective management of customer returns
Discover actionable strategies for cost-effective returns management
In the fast-paced world of online retail, customer returns have become a significant challenge, often eroding profit margins, and inflating operational costs.
This webinar will explore the hidden costs of returns and provide actionable strategies to manage them effectively. We will delve into industry norms, examining common return policies and their impact on customer loyalty and profitability.
Attendees will learn best practices for processes and data analytics to optimise returns, streamline operations, reduce the volume of goods being sent back and balance customer satisfaction with operational efficiency. This session is essential for retailers seeking to enhance profitability, while maintaining a competitive edge in e-commerce.
Key takeaways
- Balancing Customer Satisfaction and Profitability
- Examine strategies to meet customer expectations for hassle-free returns while minimising their financial impact.
- What do customers want from returns in terms of charges, sustainability, speed and convenience?
- Is there enough customer understanding about the ‘what and why’ of sending items back and how this influences attitudes towards charging for returns?
- Discuss innovative approaches, such as flexible policies or incentives for exchanges, that enhance customer loyalty without compromising margins.
- Industry Standards and Best Practices in Return Policies
- Review current benchmarks and successful practices in e-commerce.
- Evaluate how leading retailers approach returns and how these methods can be tailored to fit different business models.
- Leveraging Data Analytics to Understand and Mitigate Returns
- Highlight how advanced analytics can uncover patterns in customer behaviours, product performance, and returns reasons.
- Discuss predictive tools for identifying high-risk returns and optimising inventory management.
- Future Trends in Returns Management for Fashion Retailers
- Anticipate emerging technologies, such as AI-driven personalisation and blockchain for returns tracking.
- Examine how sustainability and customer expectations are reshaping the returns landscape.
Hear from...
Stuart Greenfield
UK and EU Sales Director, Advanced Supply Chain Group Ltd
Leveraging over 20 years of expertise in the supply chain industry, Stuart confidently collaborates with businesses to tackle the foremost challenges of multichannel sales operations. This involves minimising margin dilution, expertly optimising stock inventory management, and strengthening supply chain resilience.
Nathan Seaburn
Head of Fulfilment Operations, The Very Group
Nathan is the Head of Fulfilment Operations at The Very Group, overseeing fulfilment at both the Skygate and Wrexham centres, as well as managing the Returns partnership with Advanced Supply Chain in Sheffield.
He joined The Very Group from M&S, bringing extensive experience in fulfilment and complex automation setups.
Nathan was a key member of the senior team during the construction of Skygate, playing a crucial role in building, setting up, and testing the automation systems. These systems went live for customers on the first day of the national lockdown in March 2020. Collaborating with Knapp, Nathan successfully embedded the solution, navigating unprecedented challenges to achieve three highly successful peak periods.
This event is in partnership with
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