Digital shopping makes it easy for consumers to save time and effort. This convenience comes with a drawback — the tactile experience of in-person shopping. How often have you tried on several items to find the right fit? Or wanted to make sure those new windshield wipers will fit your car before buying them? Because it's harder to provide those experiences virtually, and the numbers support that narrative: The current ecommerce return rate is around 16.5%, which adds up to a $213 billion USD loss — ultimately hurting retailers' bottom line.
But there's an upside. New technology is a game changer for preventing high merchandise return losses. By using analytics and AI tools, brands can discover the information consumers want and find the right ways to provide it. And by using both, they can create a seamless journey that results in product purchases that meet consumer needs.