While advances in research and development have seen consumer spending on user technologies increase, rising sales also mean a higher proportion of returns. In light of this, a business consultancy announces the release of a new white paper that explores ways to reduce returned products.
The Blumberg Advisory Group has launched ‘Product Returns Avoidance: Strategies for Reducing Product Returns in the Computer and Consumer Electronics Industry. The report is part of the agency’s expertly curated collection of informational articles and guidance for modern businesses.
More details can be found at https://www.blumbergadvisor.com/product-returns-avoidance
The new study is authored by company CEO Michael Blumberg and offers readers insights into a range of consumer and industry-led trends that shape the current market. Readers can access the white paper at no charge through the Blumberg Advisory Group website.
The ever-growing e-commerce sector has seen refunds and returns policies become the standard for online transactions with many consumers only doing business with companies and brands that offer such terms. While the electronics industry has one of the lowest return rates – around 3 to 15% of purchases – unwanted goods cost retailers millions of dollars every year.
The study points out that customer frustration during the set-up phase of tech products accounts for a large proportion of purchases sent back to the retailer. Readers learn of several approaches to reducing these statistics. These include restocking fees – to discourage pre-planned returns; and a more comprehensive sales process – ensuring customer satisfaction throughout the selection and purchase cycle.
Other helpful tips include ensuring that instruction manuals are of the highest standard, preempting customer set-up issues. Analytics can also be used to identify patterns in return statistics, often highlighting design flaws that can be acted upon to improve product standards.
The Blumberg report also discusses how emerging AI technology can help companies deal with customer issues, harnessing visual assistance software to troubleshoot problems with orders. The same technology also facilitates swift product registration for faster warranty verification and No-Fault Found (NFF) and Dead on Arrival (DOA) validation of damaged goods.
About Blumberg Advisory Group
The company is led by experienced growth catalyst consultant and reverse logistics specialist Michael Blumberg. The Blumberg Advisory Group has been serving the needs of the digital business community since 2004.
A spokesperson says, “We strongly advise manufacturers and retailers to consider deploying visual assistance technology as part of the customer service tool kit and returns avoidance strategy.”
With the launch of its latest white paper, the Blumberg Advisory Group continues to serve the e-commerce sector with insightful analysis and actionable growth strategies.
For more information, please visit https://www.blumbergadvisor.com/product-returns-avoidance
Release ID: 89056570