Your customers value a forgiving return policy; however, you cannot simply blindly accept every item from every shopper for a full return and still perform your financial responsibility for your chain. The real impact of fraud and purposeful return abuses such as wardrobing is simply too costly. Structuring return practices that build customer loyalty without jeopardizing the company’s viability is an important first step. But many retailers stop at policies alone, believing that if associates enforce receipt and merchandise rules the company will be protected.
Regardless of your retail channel you need a tool that enables you to distinguish and deter fraud before the return transaction is completed. Return authorization prevents fraudulent and abusive transactions from occurring by using predictive analytics to identify and stop high risk returners, increasing net sales and reducing return rates for retailers.
- Create a fair and consistent return process, with unbiased decision making.
- Reduce return rates and shrink by preventing fraudulent and abusive returns.
- Ability to identify and treat your best customers as such; use their purchase history and/or loyalty info to craft customized return privileges for those who deserve it most.
The Retail Equation can help you reduce your return rates and drive millions out of your costs. To learn more, visit these services.