The trends and statistics: Return rates
The online retailing business has skyrocketed over the past decade. Sales rates are rising steep every year but the rate of returns of purchased products is shockingly alarming.
According to this great infographic by Invesp, at least 30% of all online purchased products are being returned. Comparing this number with the original brick-and-mortar shops, the difference is nothing less than shocking. Only 8,89% of the products bought in-store are returned.
The effect on logistics
Many logistics professionals are facing an ongoing struggle. To make things worse, United Parcel Service announced that the tide of goods flowing back to e-retailers normally jumps 15% during holiday seasons.
Following Whiteboardmag, there are retailing companies that experience as much as 50 % return rates. US online retailers report a return rate of between 20% and 40%. This is a problem for many companies, as profit margins slim significantly because of these high rates.
Why is this product return percentage so high?
Top Reasons why consumers return products:
|Received wrong item||23%|
|Product received looks different||22%|
|Received damaged product||20%|
About ControlPay -Global freight audit & Payment
Over 13 years active as an EMEA & global freight audit & payment provider, ControlPay delivers a strong mix of managed services, cloud solutions and advanced technology to provide our multinational clients with superior logistics visibility, process optimization and seamless data integration with ERP systems for financial and logistics data.