At its core, Retain operates on ParcelLab’s sophisticated infrastructure, amalgamating diverse data sources to grant brands insights into the post-purchase voyage. The system's data model empowers retailers to personalize the returns experience, manage returns involving multiple shipments, provide specific reasons for returns, empower customer service representatives with returns process overrides, and dispense targeted content based on distinct customer segments.
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GLOParcelLab has introduced a novel product called Retain, revolutionizing the paper-based returns, warranty, and exchange procedures into a digital realm. In a press release on August 24th, the global provider of post-purchase customer experience software stated that Retain not only offers consumers a seamless returns journey but also equips brands with adaptable and customizable options, leading to cost reduction and revenue enhancement.
Retain boasts a digital returns hub where customers can effortlessly initiate their returns, acquire labels or QR codes, and monitor the progress of their returns. The package includes personalized emails and an individually tailored Returns Status Page to ensure uninterrupted post-purchase communication.
At its core, Retain operates on ParcelLab’s sophisticated infrastructure, amalgamating diverse data sources to grant brands insights into the post-purchase voyage. The system’s data model empowers retailers to personalize the returns experience, manage returns involving multiple shipments, provide specific reasons for returns, empower customer service representatives with returns process overrides, and dispense targeted content based on distinct customer segments.
According to the press release, retailers who have embraced this product have witnessed improved customer retention and a reduction in return rates. Founder and CEO of ParcelLab, Tobias Buxhoidt, noted that Retain enables retailers to transform potential customer discontent into revenue preservation. By utilizing Retain, brands can optimize expenses, amplify repeat transactions, and captivate customers through branded communications that transparently elucidate the returns process.
Notably, research from PYMNTS underscores the integral role of returns in the shopping journey, with approximately 66% of U.S. shoppers utilizing returns through mail or in-store methods. Additionally, the “2023 Global Digital Shopping Index,” a collaborative effort between PYMNTS and Cybersource, reveals that 96% of shoppers review return policies before finalizing a purchase.
Jonathan Poma, the CEO of Loop, emphasized the significance of returns as a catalyst for loyalty enhancement. He noted that a seamless returns procedure showcases a brand’s confidence in its products’ quality and dependability, underscoring the brand’s commitment to meeting customer needs and reinforcing their purchase decisions. Poma predicted that the future of returns policies will be personalized, incorporating individual customer value and potential, and refined through data gleaned from warehouses and third-party logistics.
Source: PYMNTS
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