Loop earns Monos $21 extra revenue on each return

The Challenge: Manual returns were costly and unsustainable

Originally, they were processing their returns manually. It was costly, both from a financial and customer happiness perspective, not to mention from a sustainability standpoint, too.

Their manual returns were time consuming and difficult to manage, plus they had no real data on returns—nor their environmental impact.

Customers were becoming increasingly frustrated due to delayed returns and their inability to self-process them, and their lack of customizable return rules kept Monos’ policies rigid—that’s when they turned to Loop.

Insights helps Monos remain sustainable in their return practices

Insights is a powerful tool that grants access to in-depth data around return reasons, customer behavior, and operations. Monos uses this data to scale their business and to understand their environmental impact, an added bonus since they’re so focused on sustainability.

“Loop supports our sustainability efforts a great deal. We are Climate Neutral Certified and members of 1% for the Planet. Participating in these programs requires us to track and offset our carbon footprint and environmental impact; without Loop, we wouldn’t have the accurate, reliable data we get today,” says Mike Wu, Director of Customer Happiness at Monos.

Insights

Unlock advanced analytics to power your business

Instant Exchanges help Monos retain 23% additional revenue

Instant Exchange enables Monos to offer their customers instant exchanges, risk-free. When a customer elects Instant Exchange, Monos ships their exchange item prior to the customer shipping their return item back—this is risk-free to Monos, since they place a hold-charge on the customer’s credit card until they receive their item back.

Not only can Instant Exchanges help retain revenue—like the 23% additional revenue that Monos retains annually—they can also help increase customer loyalty and drive down the length of time to a shopper’s next purchase from you.

Instant Exchanges

Take the wait (and the risk) out of exchanges

Shop Now earns Monos an additional $21 per return, on average

Shop Now seals the deal for Monos, since it empowers their shoppers to shop across Monos’ entire real-time inventory when considering a product exchange.

The ability to browse a full catalog leads to a seamless exchange process for Monos’s shoppers (with endless potential for upsells). That’s how Monos ends up making an additional $21 of upsell value on the average return. Not bad. Not bad at all.

Shop now & Later

Make returns feel like shopping

The Outcome: Customer satisfaction and sustainability, within budget

Once Monos onboarded to Loop, they saw an immediate impact. Their returns went from manual to automated, empowering their shoppers to self-process their returns easily. Monos gained access to reliable returns data that consistently enables them to make better informed business decisions, and they realized they could track their environmental impact (which is very important for their brand promise).

With the help of Loop’s Instant Exchanges, Insights, and Shop Now features, Monos can provide a top-of-class returns experience that rises to their gold standard for customer service, while holding onto revenue that they would have otherwise lost to refunds. All while keeping their returns sustainable and true to their brand values.

They’ve also seen increased customer happiness thanks to our self-serve portal and real-time inventory tracking for exchanges. Plus, our customizable return rules granted them the flexibility they needed to reward their best customers while creating unique return experiences.

“We’re thankful for the Loop team for supporting us in any which way possible to grow and scale our business,” says Wu.