If you’re a jewelry retailer, you probably know what I’m talking about when I say that a 50% return rate is not unusual. Some claim that customers are to blame for a high rate of returns, other say it’s the sellers fault for making it too easy to send products back. Now who’s accountable for high return rates will remain open for discussion. However, we will provide practical tips and tricks on how to reduce your return rate.
- Train Your Staff
Selling is an art. Why? Because each and every customer is different. Therefore, it’s essential that your sales personal know how to listen to customers and present appropriate products that they’re interested in purchasing. This task may be even harder to accomplish with luxury goods, like jewelry, than commodities.
- Know Your Product
Point one leads directly to number two. Know what you’re selling. You can’t convince a potential customer to buy an item if you can’t explain why he/she should purchase it. Therefore, provide relevant information about the product. Get familiar with its special features, its benefits and its price (payment options, discounts, etc.). Make sure you know if it comes in different styles, dimensions, colors and so forth.
- Stick To The Budget
If a customer tells you, how much he/she is willing to spend, make selections that meet the budget. Don’t try to lure them into buying a much more expensive product that they’ll end up returning. Occasionally there might a customer who is indecisive and has no fixed budget; in that case you can recommend the pricier item if it suits the customer’s needs.
- Know What Sells
Get a feeling for items that sell. Know your customers’ desires, tastes and preferences and keep best sellers in stock. Talk to your vendor about reordering conditions and don’t settle for less than the original if he has delivery problems. Substitutes often lead to returns. Try to meet your clients’ needs. Compare your product to your competitors’ goods and find out what works best for them.
- Return Policy
Your return policy, of course, is the major factor that determines your return rates. If you think about revising your return policy, do it slowly. Don’t go from 30 days to 10, start with 20 for a few months and observe how or if it affects buyer behavior. Consider offering exchange only instead of cash returns. Be transparent and openly communicate your return policy. Let your customers know that they won’t have any issues if they wish to send items back and give them a positive return experience. Only if your buyers know that shopping with you is fun, even if they don’t keep every item they order, they’ll become regular customers.
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