How can automation turn a retailers’ nightmare into a revenue generating exercise?
LONDON, UNITED KINGDOM, May 2, 2023/EINPresswire.com/ — In a video published on Business Reporter, Hannah Bravo, Chief Operating Officer at Loop, talks about how product returns are threatening retailers’ profit margins, as well as the ways in which automation can help save costs and even generate revenue.
There is a lot of pressure on retailers regarding product returns. Customers want an ever smoother and more convenient return process, while the environmental impact of transportation and the extra waste generated by returns raise a lot of eyebrows in environmentally conscious circles. Meanwhile, they also need to grapple with the technological and logistical challenges that the reverse delivery process entails.
Loop’s returns and exchanges software improves the post-purchase experience for both retailers and their customers.
Automating the return process using Loop will drive return costs down, as well as provide customers with the opportunity of initiating returns when and how they want. Customer satisfaction in the post-purchase phase will, in turn, improve net promoter scores (NPS) and can lead to the acquisition of new customers.
Loop has also inserted a new option into the return process with their feature, Shop Now, where customers are presented with a retailer’s full catalog during a return to enable them to exchange for the right product in lieu of opting for a refund. This feature often generates extra revenues for retailers.
“There is a lot of opportunity in returns for retailers,” says Bravo. “What we’ve found working with nearly 2,000 brands is that those who lean into improving their post-purchase experience can not only increase their revenue and lower costs but also keep their customers happy.”
Based on collected data, Loop can make recommendations regarding how the rate of successful purchases can be improved by the retailer. Loop also empowers its clients by helping them partner with the appropriate technological and logistics partnerships to enhance their operations.
To learn about case studies demonstrating how automation can help cut product return costs, watch the video.
About Business Reporter
Business Reporter is an award-winning company producing content published on Business Reporter online hubs on Bloomberg, Fortune, USA Today, Wired, Independent, Business Insider Germany, Il Fatto and Le Figaro, delivering news and analysis on issues affecting the international business community. It also hosts conferences, debates, breakfast meetings and exclusive summits.
www.business-reporter.co.uk
About Loop Returns
Loop is the post-purchase platform that enables Shopify’s biggest brands to transform returns into exchanges. Loop helps nearly 2,000 brands increase customer loyalty, retain more revenue and lower reverse logistics costs. Through innovative features like Instant Exchanges, Shop Now, and Bonus Credit, Loop has helped merchants retain more than $900 million in revenue over the past six years.
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Originally published at https://www.einpresswire.com/article/630394047/business-reporter-making-product-returns-smoother-for-both-retailers-and-their-customers
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