Product returns are a growing concern for merchants and brands. Estimates show that up to 40% of online orders are returned by customers, so with an average cost of $25 per return, it’s easy to calculate how much this can cost.
Reducing the rate of returns can have a huge impact on the bottom line, and many returns are caused by customers not understanding the product they’re buying. In other words, low-quality product information and poor product experiences drive higher return rates. The governance and collaboration capabilities a PIM offers guarantee that companies will provide better product experiences. Therefore, most of our customers factor in a 10% reduction in returns into their ROI model.
