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Research Outline
Prepared for Omid F. | Delivered January 4, 2020
Impact of Flexible Return Policy on Online e-Commerce Sales
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Goals
To obtain insights on the impact of flexible return policy on online e-commerce sales.
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Early Findings
Flexible Return Policy and eCommerce
Free returns in ecommerce, has the ability to
persuade customers to buy products
.
It gives customers the power to return things they have purchased
should a problem develop
or they have changed their mind.
According to the Journal of Marketing, customers who receive free returns are more likely to increase their purchases
between 58% and 357%
over a two-year period.
The absence of free returns has the ability to
turn customers away
and towards the competition.
A company with a
returns department
therefore becomes more competitive, increases its efficiency, retains more customers and engenders growth for the company.
It was found that
74% of customers
see having a flexible return policy as being important in the buying process.
The survey also found that only
42% of customers
would be willing to buy from a retailer if they did not have an appealing return policy.
Another factor that is important to customers, is the ability to
buy online, return instore, 19.65%
. This is especially true among certain demographics, namely Millennials, Gen Zs and Gen X.
Customers find it important to be able to return items for
free online, 14.1%
.
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