For a host of reasons, manufacturers and retailers have a vested interest in reducing or eliminating the number of product returns each year. The costs of product returns are both monetary (i.e., lost sales, increased shipping costs, restocking costs, revenue write-downs) and non-monetary such as damage to brand/retailer reputation and negative customer experiences for an industry that relies heavily on positive customer experiences. What can be done to further help reduce return rates? Is it a matter of more customer education pre-sale, greater tools and resources available to consumers post-sale or a combination of both? Clearly consumers have different levels of understanding on how to use (and install) consumer electronics based on age, technology adoption habits and interest (to name a few). However, CEAs study Product Returns: Understand Why They Occur and How to Reduce Them finds opportunities exist for retailers and manufacturers to reduce return rates because of incomplete information or perceived complexity.
This report is co-sponsored by ShowUhow®, a San Diego based company that helps manufacturers and retailers reduce support costs, increase sales conversion and improve customer satisfaction by offering a series of on-demand, video-based product guides for every stage of the customer lifestyle.
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