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Activate In-Store Pickup for Dynamic Order Management
As orders from multiple sales channels increase, even a thriving business feels the pressures and frustrations associated with customer service, order and inventory management. In-store pickup is also a constant challenge for retailers struggling to meet customer needs, and according to Forrester Research Inc. analyst Brendan Witcher, this trend is not going away any time soon. “More than half, 53%, of the more than 3,000 online U.S. adults surveyed say they expect notification in two hours or less that orders are ready for pickup.” Nailing In-Store Pickup Report Witcher advises staying away from offering all products for pickup, as some can be too difficult to manage quickly. Products available for pickup should also be labelled as such on product descriptions and/or listing pages. Retailers can keep up with their omnichannel initiatives by implementing the critical areas of improvement for in-store pickup. Enhance customer service: Leverage knowledge from store associates. Fast fulfillment: Make pickup orders readily available at the most appropriate location. Manage returns: Give shoppers the freedom to handle returns at a specific location. Attract new customers: Create larger in-store
Defining the Omnichannel Business Case
Omnichannel investment is squarely aimed at increasing the availability of a wider assortment of products and improving the customer experience through better service. By adding mobile enabled devices in stores to look up inventory across the organization, retailers will have the ability to “save the sale” and create an “endless aisle” scenario. On average, out-of-stock merchandise costs retailers 4.1% in lost revenue. Universal access to inventory data also helps with inventory turnover for locations that are carrying excess SKUs. From a competitive standpoint, access to inventory across channels saves sales lost to the competition, and opens up a higher likelihood of future purchases. Customer service is also heavily impacted by omnichannel initiatives. Allowing customers to buy through any channel and return products to any channel has become table stakes. Omnichannel integration is critical for cross-channel loyalty programs and consistent promotions. It is 10 times more expensive to acquire a customer than retain one, so offering differentiated customer service that provides consistency of the full customer experience is critical. When defining the business case, there are some critical questions you need to ask: Do I
Is it Time to Rethink Your Return Policy?
A generous return policy is a vital component for any retailer, but with the ever-increasing demand, retailers are more susceptible to return fraud, back orders, and lost revenue. “Return fraud remains a critical issue for retailers with the impact spanning far and wide, in-store and online." -NRF VP of Loss Prevention Bob Moraca How can a retailer ensure they get their return items back as fast as possible, while dealing with return codes, shipping charges, and bin sorting? Thinking through every aspect of your return policy may be a crucial area to hone in on for the new year. Check out the key insights from 2015 below to dominate returns this year. Keeping Your Customers Satisfied Consumers will forever crave an accommodating buying environment, where returns are as easy as purchasing a product. There are a few ways to reduce the number of legitimate returns. Consider the following tips for a returns policy that will best compliment your business. Amp up your customer service approach (look into including additional contacts, such as email, live chat, phone) Incorporate product videos for clarification Cultivate customer
Did You Survive Return-Ageddon this Year?
January 6th is a pseudo National Holiday on the calendar called National Returns Day. It is better known as Return-Ageddon to many of us. This is the day of returns “hell” for all. Since you may still be knee-deep in returns, hopefully not eyeball deep, here are few key points to consider. According to a few studies, it’s not yet time to take your head out of the clouds, but it might be a good time to be clever and start managing your products and returns more efficiently for the next Return-Ageddon. In a combined online shopping study by UPS and comScore, “Empowered Consumers Changing the Future of Retail,” they discovered key insights into the returns process. “67% review a retailer’s return policy before making a purchase, 66% want free return shipping, 58% want a hassle-free “no questions asked” return policy, and 47% want an easy-to-print return label.” With most consumers close to or more than half demanding free returns, an easy-to-print label, and hassle-free shipping, it is vital for retailers to persevere with a robust all-in-one system. When you
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