The webinar explores the increasing importance of customer returns in fashion retail.
- Paid returns are on the rise as businesses struggle with returning costs.
- Customers prefer returns that are fast, flexible, and ideally free of charge.
- Retailers face challenges from repeated returners and aim to maximise full price sales.
- Experts from New Look and ZigZag discuss strategies for effective return management.
The significance of customer returns has become a pivotal topic in the fashion retail sector. As consumer expectations continue to evolve, these returns are no longer just a logistical matter but a strategic component in customer satisfaction and retention. Retail giants such as New Look, alongside returns solution provider ZigZag, are dissecting these challenges in a comprehensive webinar.
Paid returns are increasing, reflecting the pressures retailers face in balancing convenience for customers with profitability. Many companies grapple with the decision whether to absorb return costs or pass them on to consumers. This difficult balancing act is at the forefront of retail strategy discussions, particularly as businesses attempt to manage the financial implications without compromising customer loyalty.
From a customer’s perspective, the ideal return process must offer speed and flexibility without incurring additional costs. Fast refunds and hassle-free returns have emerged as key expectations among shoppers, who are growing increasingly accustomed to seamless e-commerce experiences. However, providing free returns is a significant burden for retailers, influencing them to reassess their return policies.
Retailers must navigate not only the increasing expectations but also the behaviour of serial returners who exploit liberal return policies. Moreover, retailers are implementing ‘save the sale’ strategies to circumvent potential loss of sales due to returns.
Finally, the discussion acknowledges the technological and sustainable facets of modern return policies. Innovations such as paperless returns and recommerce models are becoming central to how companies approach sustainability in retail. These solutions reflect a growing commitment to reducing environmental impact while maintaining customer satisfaction.
The panel featured insights from Rachel Troke, Senior Product Manager at New Look, and Laura Davies, Director of Client Success at ZigZag, moderated by Graeme Moran. Their insights provided a balanced view of the complexities inherent in designing customer-centric return policies.
The webinar provided a detailed examination of return policies, balancing customer satisfaction and business efficiency in the fashion sector.
