Loop, a return management platform, has released the findings of its most recent consumer report, “Let your returns power customer loyalty.” It provides key insights into what shoppers value most in the post-purchase experience and how brands can leverage those insights to build customer loyalty.
Loop surveyed 2,000 online shoppers across the U.S. and U.K. in May 2023 about their post-purchase preferences and priorities, looking for insights to help merchants continue building the most relevant, customer-centric post-purchase experiences. The report revealed that consumers aren’t just looking for free returns anymore, what they want is a quality experience that shows that brands care about them. Specifically, consumers are looking for easy, seamless returns, personalised experiences, and product quality guarantees.
“Consumers continue to say they want ‘flexible’ and ‘extensive’ return options,” said Tasha Reasor, SVP marketing at Loop. “At Loop, we really want to understand exactly what that means so we can help our merchants provide the best possible experience for their customers. Our latest consumer report gives brands prescriptive insights into how they can prioritise brand loyalty through their post-purchase practices.”
Consumers can’t be bothered with confusing or complicated returns processes – so much so that it could impact their likelihood of repeat purchase. Two-thirds (69 per cent) of respondents said they expect retailers to have an easy-to-follow returns policy. Loop’s survey also found that consumers expect options when it comes to how they return: 47 per cent prefer dropping off packages at a shipping partner, 37 per cent want to avoid the repackaging hassle and return in-store, and 36 per cent want the convenience of at-home pickup.
A majority (75 per cent) of consumers today expect retailers to suggest new products based on past purchases and interactions. Furthermore, 82 per cent of consumers are highly incentivized to buy again when offered by post-purchase coupons, discounts or enrolment into a loyalty program, which help to further build that personal connection between brand and shopper.
Product quality questions are always on the front of consumers’ minds when making online purchases. So much so, that a staggering 93 per cent of consumers say that they are more likely to purchase from retailers who offer quality guarantees or warranties, and 25 per cent expect some level of quality assurance. With 92 per cent of consumers regularly checking a retailers’ return policy before purchase – a percentage up nine points year-over-year – highlighting warranties in return policies can catch consumers’ attention from the get go.
“The power to create customer-centric experiences is at brands’ fingertips,” continued Reasor. “There is no one-size-fits-all approach to returns these days, but understanding what your shoppers value, and crafting policies to deliver on those values, will go a long way in building crucial relationships with customers that will lead to long-term loyalty.”
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