Loop is redefining returns
Carly Greenberg
·March 3, 2021
Say it with us.
Returns ≠ Refunds.
Returns = Opportunity.
The world has viewed returns as something to avoid for far too long. As an exercise in cutting costs and finding logistical efficiencies. But, ecommerce has changed and the brightest brands have already evolved to embrace this new reality.
Buying online is easy. Shopping isn’t.
For the last decade, ecommerce brands have focused all of their time, energy, and resources into making buying easy. They’ve found every imaginable way to reduce the amount of steps at checkout, meticulously analyzed conversion paths, and OBSESSED over ROAS.
It made sense. Ads were cheap, the idea of buying online was still novel, demand seemed endless, and competition was low. The formula worked so brands spent, and spent, and spent. That playbook worked for years.
In 2020, commerce changed nearly overnight. Shopify “armed the rebels,” making it incredibly simple to bring an idea to life within just a few days. With nearly 2 million stores selling online, your increased competition tenfold. At the same time, the number of new shoppers skyrocketed: total ecommerce sales were estimated at $791.7 billion, an increase of 32.4 percent over 2019. The balance of supply and demand changed entirely, yet only the most customer-centric brands adapted.
These brands have taken a step back and focused on what matters most. They’ve realized that we’re entering a new era and if they bring the same tired playbook along with them, it won’t yield the same results.
They’re already using the new playbook. The one built for the new era of commerce.
A playbook centered around the customer.
The Customer Experience Era
The Experience Era is all about having a deep understanding and expertise over every single part of your customer journey. Whether it’s acquisition or post-purchase everything is automated, personalized, and balanced.
The Experience Era will be defined and won by brands who are hyper-focused on perfecting these experiences they create for their customers. Brands can no longer succeed solely through customer acquisition excellence. Customers expect more.
Your customer experience is your final differentiator in ecommerce.
Customers should go through complete experiences with a brand as if they were made just for them – because the experience era is about treating every single customer like they’re your only customer.
It’s about creating a virtuous cycle, where the post-purchase experience is just as seamless as the acquisition experience.
This focus on experience is the new growth formula in ecommerce. It’s not about endless acquisition, it’s about balance. It’s about understanding that a purchase is not the end goal, it’s just the beginning.
Loop has redefined returns
Loop has redefined the way brands approach returns. They are the key to unlocking loyalty, repeat purchases, and higher LTV.
If you only think about returns through the lens of cost-savings and logistics then you’ve missed the point. These are foundational elements of any return that must be perfected, of course. But when this is all you’ve optimized for, you’ll naturally view returns as something to avoid. You’ll hide the experience, make it confusing, and push the costs on to your customer.
Returns are the single most pivotal post-purchase touchpoint your customers will experience.
Returns are your differentiator. They’re the experience that will transform a vulnerable moment of receiving a product a customer won’t keep into the excitement of finding a product that they’ll love.
Returns are your new revenue stream. They’re the opportunity to reignite the shopping experience and reward your customer for staying loyal to your brand.
Returns are an expected part of the way people shop online. And the brands who thrive in the Experience Era will be the ones who focus on making it just as perfect as every other touchpoint.
So say it with us.
Returns ≠ Refunds
Returns = Opportunity
Join the movement. Learn how Loop can redefine returns for you.
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With Loop, your brand can offer everything from refunds to direct exchanges to shopper incentives and more. Even better? These exchanges build your business.