Over Half of Online Shoppers Abandon Purchases Because of Return Policies
The return process doesn’t just affect customers after a purchase. New research shows that consumers actively think about returns when buying online.
A study from Splitit revealed 52% of consumers have abandoned an online purchase because they were worried about the return process. The concern was even higher among Millennials, with 67% reporting cart abandonment.
Earlier this year, InComm reported that 96% of consumers consider the return process in their shopping decisions, both online and in-store. Moreover, 55% say returns have a “big influence” on the stores and websites they shop.
What are consumers looking for in a return policy? The largest portion of Splitit respondents (39%) said that free return shopping is the most important feature, while 30% look for a “no questions asked” return policy. Twenty percent of participants said they would be less likely to shop with a retailer if they charged a return shipping fee.
InComm’s research showed that 63% of buyers prefer making returns in store. That is why the Kohl’s/Amazon partnership has been so successful. Customers can order a product on Amazon and take it to their local Kohl’s store to return. Kohl’s handles all return shipping and processing. Even if the customer chooses not to return the item, having the option to return it in-store adds to the appeal of shopping with Amazon. If other online-only retailers can tap into this idea, they might reduce the risk of cart abandonment.
This entry was posted in Credit Card News and tagged returned merchandise , cart abandonment , buying online , Splitit , returns , return process , shopping decisions , return shipping , retun policy , return policies
The information contained within this article was accurate as of December 31, 2019. For up-to-date
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