A Profitable Approach to Product Returns
Customer behavior after a purchase can be difficult to predict, which is why many large retailers have very lenient return policies. However, in recent years, these companies have noticed customers taking advantage of these policies and ultimately cutting into profits. Yet new tools and technologies make it possible to segment customers and impose stricter return policies on those whose past behavior warrants it. These predictive models are unique to each retailer, but the right tools will help retailers manage their returns profitability while delivering a positive customer experience.