If you have been following the e-commerce world from quite some while now, you would know that the main difference between commerce and e-commerce is that you have some benefits. One of the major benefits is that e-commerce introduced the concept of returning products without any questions which were not available before.
Basically, if you are not liking a product after using it than e-commerce would allow you to return that product without them asking you the reason for returning and this is why people started to prefer e-commerce stores over other.
While this return policy also introduced the idea of people using products even if they didn’t want to purchase it and then return it before the return period expires, it has done positive changes too. For example, it is seen that people don’t get used to products and they have to live with it through their lifecycle even though they are not pleased. But with returns, you can send them back so that the burden of using a product you don’t like is not anymore.
Same goes for the US holiday season where we saw a record number of sales being achieved. However, we are now seeing the consequences of the record holiday sales where people are starting to return their products which they don’t like. It is believed that almost 10% of the products ordered on the US e-commerce stores during the holiday season get returned every year and this results in a sales loss of roughly $369 billion which is huge in itself.
However, January 2 which is termed as the “National Returns Day” has seen a surge in returns which are now at 26% increase year-over-year in 2020 as per ET Retail’s report. UPS, the largest delivery service in the US, expects to ship back 1.9 million gifts and items back to the U.S. retailers for either getting replaced or getting refunds.
