Establishing Customer Loyalty for eCommerce

Web Retailer reports that, if your eCommerce business has at least 40% repeat customers, you are likely to have 50% higher sales than online retailers who have 10% repeat purchasers. In other words, repeat customers are vital to your business.

58 percent of people stop doing business with a company because of poor customer experience.

69.57 percent of shopping carts are abandoned.

High extra costs are the top reason shoppers abandon carts.

62% “would buy again” from a brand offering free returns or exchanges (Dotcom Distribution, 2018)

• 69% are deterred from buying online by having to pay for return shipping and 67% by restocking fees (Narvar, 2018)

• 90% “highly value” free returns (Dotcom Distribution, 2018)

• 96% would shop with a retailer again based on an “easy” or “very easy” return experience (Narvar, 2018)

the most profitable customers have a ~32% return rate. They buy a lot, but they also return a lot. With efficient operations, this far more accurately represents an opportunity to maximize profit than industry averages.

Third, closely examine the relationship between price, value, and returns — especially during the launch of new products. We all know the line, “Price is what you pay. Value is what you get.” In the context of returns, that means it’s possible to lower the price of a product and make more money.