How Offset from Loop delivers on Peak Season
Samir Kamnani
·November 25, 2024
We’re rapidly approaching peak shopping season, starting with Black Friday and running through Christmas. Ecommerce businesses should be prepared for the surge: Last year, Shopify merchants saw a new record of $9.3 billion in collective sales during Cyber Week alone, representing a 24% increase from the previous year.
But with record sales also come record returns numbers: A quarter of shoppers had already returned or planned to return one or more of their Cyber Week purchases within days of making the purchase.
As a retailer, it’s critical to deliver a streamlined post-purchase experience for your shoppers, especially if they need to make a return. With a best-in-class returns experience, you’ll be able to exceed their expectations and convert one-time shoppers into repeat shoppers.
Loop's consumer paid returns model, Offset, is designed to help you mitigate the expense of return shipping, while delivering superior service for customers who need to make returns.
What is Offset?
Prioritizing the customer experience is critical, especially when it comes to returns. With a majority of brands now shifting to a paid returns model, 70% of customers say they’re willing to pay for a more convenient, premium returns experience—and Offset makes meeting customer expectations easier than ever before.
Offset enables merchants to offer their customers the opportunity to pay a small upfront fee at the time of purchase to benefit from a free, convenient return later. With Offset, shoppers will gain peace of mind that they can make returns easily, providing them with confidence in your brand. In fact, our preliminary data from Beta merchants has shown that over 80% of customers presented with Offset have chosen to purchase it, and those shoppers have increased their average order value by close to 10%.
Offset helps you protect your margins against the rising costs of reverse logistics, while ensuring a consistent and convenient returns experience for your customers. With Offset, you’ll help convert one-time, peak season shoppers into loyal customers.
How Loop drives more revenue from returns
Offset helps you build a financial buffer to protect against the rising costs of returns, but it’s not the only revenue-driving feature in Loop’s arsenal.
Loop’s other features include:
- Shop Now & Shop Later
- When a customer requests a return, Shop Now & Shop Later encourages them to choose an exchange or store credit that they can apply towards any product in your store, whether it’s a direct exchange or not. By streamlining the ecommerce returns and exchange experience, you’ll be able to retain more revenue from returns: Loop merchants retain about 50% of return revenue through this feature.
- Bonus Credit
- Provide additional incentive for shoppers to choose an exchange or credit over a refund by offering them Bonus Credit that they can apply towards another purchase. When your brand offers Bonus Credit, shoppers often choose a new item that costs even more than the value of the original purchase + bonus credit, resulting in an upsell that drives even more revenue than the original purchase.
- Insights
- Our analytics feature gives you a robust look at what your shoppers are returning and why—giving you access to actionable insights that you can use to refine your marketing and product development strategies. Merchants can use Insights to optimize their inventory selection and change product descriptions, resulting in lower return rates and reduced reverse logistics expenses.
Maximize your peak season profits
Learn moreHow Loop scales to meet Peak Season demand
When choosing a returns management solution, it’s critical to ensure that you’ll be able to scale to meet the demands of Peak Season, delivering efficient resolutions to all of your customers’ requests.
Loop offers:
- 99.9% uptimeWe offer unparalleled reliability, with virtually no interruptions of service in our history.
- Robust supportGet hands-on help from our Merchant Success team, who can support you in onboarding, troubleshooting, and planning your Peak Season strategy.
- SOC2 complianceOur SOC2 compliance certification guarantees that we’ve committed to best practices for data handling, ensuring your customers’ security.
- Proven stabilityWe’ve served as a reliable and trustworthy partner for our merchants over several years of Peak Season demand, helping them scale their returns function to effortlessly manage high volumes of returns.
Get prepared for Peak Season
To make the most of Peak Season, it’s important to get the right tools in place today.
By onboarding with Loop, you’ll benefit from all-inclusive access to our new Offset product, as well as the other revenue-boosting features that Loop merchants already know and love. You’ll be able to provide a premium return experience that justifies a return fee, protect your operating margins, and get access to automation features that help you boost operational efficiency and ensure a streamlined customer experience, even during high-demand periods like Peak Season.
Ready to learn how Loop can help you simplify Peak Season returns? Get a demo today.
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Retain more revenue with Loop today
With Loop, your brand can offer everything from refunds to direct exchanges to shopper incentives and more. Even better? These exchanges build your business.