NEW: Shoppers are willing to pay for premium return experiences–here’s why
JP Arnaud-Marquez
·January 9, 2023
It used to be that free returns ruled them all.
But our recent consumer report uncovered that 70% of shoppers are willing to pay for more convenient, premium return experiences. This presents a unique and profitable opportunity for Shopify merchants.
Free returns–and return policies in general–still positively influence purchase behaviors. And automated, self-serve return experiences are still shopper expectations.
But shoppers are no longer wow’ed! by these return offerings. They simply expect automated, self-serve return portals that incentivize exchanges. Those are now table stakes.
When we began to notice this changing return management trend, we decided to conduct our first consumer report; where we uncovered how returns impact customer retention. It turned out to be a smashing success.
We had many Shopify merchants reach out to us thanking us for the data and our findings. But we felt like there was more to learn. That got us thinking about first-mile reverse-logistics (FMRL)–you know, things like at-home pick-up, box-less drop-offs, or sustainability. And how these options fit into the overall return management narrative.
So we decided it was time for another consumer report.
In December 2022, we surveyed 1,000 US online shoppers to learn more about how shoppers think about return options. And what FMRL offerings Shopify merchants need to consider in 2023.
Here’s what we found:
- 70% of shoppers are willing to pay for more convenient, premium return experiences
- 51% of shoppers said they’re willing to pay between $1 and $5 for those return experiences
- 98% of shoppers agree that premium return experiences encourages repeat purchases
- 88% of shoppers agree that eco-friendly return options make them more likely to shop again
- 73% of shoppers regularly review a retailer’s return policy to gauge their sustainability levels
That’s right. Shoppers now expect more from Shopify merchants like you, especially when it comes to return management.
They expect convenient, premium return experiences. They expect sustainable return options. And they expect benefits like exchanges, store credit, at-home pickup, and much more. They’ve raised the bar.
That’s why Loop partners with Shopify brands of all sizes to help them offer these options, and more, while finding unique ways to make their returns profitable.
Premium return experiences are now your secret sauce.
But let’s get one thing clear.
Premium return experiences aren’t expensive return experiences.
If you partner with the right return management app, like Loop, you can create customized (and premium!) return experiences that are profitable.
That’s why more than 1,800 Shopify merchants trust Loop to manage and optimize their returns process. So they can focus on what they do best – scaling their businesses and making the cool stuff we love to shop for.
Discover how you can enhance your return experience to win over more customers, build customer loyalty, and make more money today. Book a demo.
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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.