Protecting Your Bottom Line (Reducing Product Returns)

technipakllc • July 20, 2018

 

 

There are many different reasons why clients may wish to return stock. These include a change of mind, imperfection of stock, individual disappointment, or a mix up with the item. For garments it might be the wrong size. It may be that the manufacturer has requested that a product is returned due to a fault being identified, also known as a product recall.

Many retailers will acknowledge returns provided that the client has a receipt as proof of purchase and that certain conditions, which depend on the retailer’s policies, are met. These include that the item is still in good condition and has not exceeded the time limit required for returns, from the purchase date.

How to Reduce Return rates?

Returning of products is inevitable in all kinds of industries and one way to cope with the loss of profit is to at least reduce return rates. So how does it work? Proper labeling can help a lot.

Here are some tips:

  • Proper Size Guides – this must be included on the labels of a product such as shoes and clothing. Often people make mistakes when choosing their size. Size guides can be very helpful.
  • Good Product Imagery – graphics are very important as this enables the customer to see clearly the important elements of the product, such as design and functionality.
  • Fitting tools – the use of proper fitting tools such as the ones we find in the household are of great help while considering measurement units familiar to people, such as centimeters, meters, and inches.

In every industry, it is the retailers’ duty to inform consumers of all the necessary information about the product by proper labeling. Lack of proper information about the merchandise can lead to the dissatisfaction of the consumer, which eventually leads to high return rates, losing a potentially greater profit.

Once products are returned, consider using Techni­Pak to re­package the returned goods. We can create special priced multi­packs, high value kits or re­label for a different retailer.

Questions to ask yourself:

  1. Are the methods of reducing return rates useful?
  2. What other methods do I need to use when return rates are still high?
  3. Can Techni­Pak help me?

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