The BFCM season for 2020 is expected to be different from previous years, but it seems it will be significant. Many brands have already shattered BFCM numbers during the summer months, and research conducted by Google indicates that 73% of holiday shoppers in the United States say they plan to do more online shopping this year compared to previous years. Shoppers are also expanding their purchases, with 30% of consumers buying from brands they have never purchased from before.
Building Precise Options in the Checkout Process
When shipping products to customers domestically or around the globe, brands need not only to find the cheapest available shipping options but also to present choices clearly. Too many options can be overwhelming, while too few can lead to cart abandonment.
Adding More Shipping Companies at Lower Costs
As companies expand their reach to customers across regions, the costs incurred for shipping items can vary significantly. Many companies are starting to leverage their national postal service, and there is a shared interest for both the company and the carrier to find the lowest cost.
Opening New Markets with Shipping
It allows brands to access vast new markets of potential customers when moving to the global market. It’s easier than ever to build a narrative and message that target a community, regardless of where the members reside; however, transitioning to the global market brings new complexities to business operations. There are administrative aspects to manage, the need to build a reliable and rapid network to deliver goods worldwide, and challenges in serving different countries considering customs regulations, taxes, and various fees.
Making Exchanges More Attractive Than Refunds
More than 50% of returns occur simply because the customer needs the wrong size. They are not returning the product because they want their money back; they are returning it because they want a different product. This is particularly true for online brands with multiple size variations. However, there are also verticals facing similar issues. If you sell furnishings, handbags, or jewelry, the customer may want a different color or style, instead of a refund.
Reducing Waste and Improving Environmental Outcomes
The nature of shipping requires moving items from the warehouse to the buyer, and in the case of returns, back to the warehouse. With shoppers more aware than ever of the impacts of shopping on the environment, companies are looking for ways to mitigate this impact.
Make Shipping and Returns a Strategy to Increase Revenue
Brands are finding new ways to delight customers throughout the entire purchasing cycle. Implementing shipping practices that are cost-effective and customer-focused, alongside offering flexibility and assurance in return processes, helps brands to open new markets, increase conversions, enhance average order value, and build customer loyalty and repeat purchases.
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