This event took place on Wednesday 17th May 2023
Retail and brand leaders came together for a roundtable-like discussion on reducing e-commerce returns and keeping customers coming back. Plus, consumer brand investor Beringea shared investment and growth tips.
THE DISCUSSION
REDUCING RETURNS – LESSEN THE LIKELIHOOD OF E-COMMERCE RETURNS
The bane of e-commerce – customer returns are bad for profitability and harmful to the environment, though a necessary evil in the game of retailing online.
Every minute an item spends in the return cycle is a minute it can’t be sold to other customers.
Some retailers have begun charging for returns to encourage a change in customer behaviour, but what other strategies can be put in place to help shoppers make the right choices so they don’t feel the need to return orders?
EXPERTS
LUCY THOMPSON, SOJO
Offering alterations as an alternative to fashion returns
Poor fit is one of the top reasons for e-commerce clothing returns. SOJO partners with brands to offer clothing alterations and repairs to their customers at scale in an easy and convenient process; reducing their return rate and ensuring the longevity of the clothes they create. Clients include GANNI and Ninety Percent.
DUNCAN MCKAY, AISTETIC
How online tools can solve the fit issue
Oxford University spin-out Aistetic is a body measurement tool designed to reduce clothing return rates by helping customers get the right fit.
CUSTOMER CHARM – KEEP CUSTOMERS RETURNING FOR MORE
Moments of delight keep customers interested in your brand and it’s all in the service.
From the unboxing experience, making your packaging stand-out and personalised, to having customer sales agents that know your brand and products inside out, we shared ideas and strategies that build positive customer relationships.
EXPERTS
TSHILI KHUPE, LTVPLUS
Why targeted customer support is key to retention
LTVplus is a customer service outsourcing solution for e-commerce brands. As well as reactive customer support their agents are proactive in increasing sales and conversion by recovering abandoned baskets and failed payments.
BEN ABBOTT, PENNY BLACK
Placing printed personalised offers in orders to encourage loyalty
With Penny Black online retailers can give customers a personalised unboxing experience, with printed insert loyalty offers based on order attributes.
VC VIEWS – GROWTH TIPS FROM INVESTORS
This time we’ll be joined by Beringea, a transatlantic investor in consumer, media, healthcare, B2B and clean technology. Their consumer investment portfolio includes DASH Water, Lucky Saint, Papier and Luxury Promise.
Consumer investors have a unique view of what’s happening in retail and e-commerce.
EXPERT
JODIE MILLER, BERINGEA
Jodie is focused on consumer and technology deals. She offered thoughts on growing direct-to-consumer and e-commerce brands.