Returns management – from necessary evil to strategic advantage by BuyBay

Returns are often an unpopular topic that retailers are not keen to deal with.

However, as eCommerce platforms become more established, this necessary evil is becoming one of the most effective ways to increase profits, foster sustainable customer relationships and differentiate from the competition.

We have summarized three important starting points that can enable this.

In today’s rapidly evolving workplace, prioritizing leadership development is essential for creating a culture of innovation, growth, and employee engagement. Organizations that invest in comprehensive leadership training see tangible results.

A recent study by the Association for Talent Development (ATD) found that companies offering such programs enjoy 218% higher revenue per employee than those without formalized training. Additionally, these companies boast a 24% higher profit margin compared to those who invest less in training. Amidst the digital transformation and remote working trends, the significance of in-person training from an experienced trainer cannot be overstated. Fly your remote workers in (and yes, the cost will be worth it). Therefore, management training is an essential part of success.

It’s not just online-only retail that has seen explosive growth in recent years. It has become almost obligatory for brick-and-mortar retailers as well to offer customers the option of ordering online and having the goods delivered.

The pandemic year 2020 has reinforced this trend. eCommerce platforms have reached a certain standard in line with their advanced market maturity. Previously criteria such as delivery times, payment options and user interface were factors that significantly differentiated online stores from the competition. Nowadays, these factors are almost completely standardized, at least for the larger platforms and commonly used shop systems.

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