Economic uncertainties lead retailers to get creative to retain customers
Customers are likely to become more price-sensitive during an economic downturn, so retailers should focus on offering products and services that provide real value to customers.
UPS expects 70M return parcels after the 2022 peak season
With projections to make any delivery driver gulp, the delivery giant UPS is expecting that it will handle up to 70 million packages in retail returns after the holiday season rush - and that’s just their company, alone.
Returns account for more than 20% of e-commerce sales
According to figures from the National Retail Federation, that number is rising in comparison to the approximately 10% that account for in-person shoppers.
Overstock.com is now offering convenient customer returns with UPS
Overstock CEO Jonathan Johnson unveiled the launch of the companies’ partnership on a Q4 earnings call last week, heralding the pilot program as an extremely convent process meant to streamline customer returns and better understand customer preferences on an internal business level.