Executive Briefings

Slow Returns Process Causes Retailers to Lose Consumer Loyalty

Getting customers whatever they need whenever they need it, and as quickly as they expect it, has become easier. Yet the returns process has some retailers winning and others floundering.

Global management and consulting firm Kurt Salmon's recently released omnichannel fulfillment study analyzed retailers' peak season fulfillment and found that when it comes to getting consumers refunds for products they've rejected, retailers scored subpar ratings.

According to the study, consumers think a refund should be processed in roughly seven days (younger consumers expect even shorter time frames), and retailers took an average of 16.8 days to credit a return during the peak holiday season last year.

Those retailers that are winning have one thing in common: their return time frames are very close to actual transit times, meaning they have a step up front that doesn't require a lot of labor.

Steve Osburn, Kurt Salmon's supply chain expert and partner in the Retail and Consumer Goods Practice said one thing brick-and-mortar locations have over pure play platforms is immediate credit for returns.

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Global management and consulting firm Kurt Salmon's recently released omnichannel fulfillment study analyzed retailers' peak season fulfillment and found that when it comes to getting consumers refunds for products they've rejected, retailers scored subpar ratings.

According to the study, consumers think a refund should be processed in roughly seven days (younger consumers expect even shorter time frames), and retailers took an average of 16.8 days to credit a return during the peak holiday season last year.

Those retailers that are winning have one thing in common: their return time frames are very close to actual transit times, meaning they have a step up front that doesn't require a lot of labor.

Steve Osburn, Kurt Salmon's supply chain expert and partner in the Retail and Consumer Goods Practice said one thing brick-and-mortar locations have over pure play platforms is immediate credit for returns.

Read Full Article