Ecommerce's popularity soars as more people embrace online shopping. Surprisingly, ecommerce sees higher return rates—30% of all ordered products compared to a mere 8.89% in physical stores. This vast discrepancy burdens retailers with financial repercussions and the need for efficient return strategies.
We'll delve into intriguing ecommerce return statistics. These comprise the 2020 return delivery cost, clothing's dominance in return rates, the impact of simplified returns on customer loyalty, the practice of reviewing retailer's policies before purchasing, and consumer preferences for refunds or exchanges.
Additionally, we'll explore average return rates for ecommerce and physical stores, 'serial returners' purchasing multiple product versions, preferences for store-based returns, post-Christmas high return rates due to purchase intentions, the escalating cost of ecommerce returns through 2025, and reasons for customer-initiated online product returns.
Now, let's scrutinize the critical statistics regarding ecommerce returns.
This statistic is a telling indication of the convenience and flexibility that online shopping offers customers. With the ability to return items from the comfort of their own home, customers are more likely to take a chance on a product they may not be sure about, knowing that they can easily return it if it doesn’t meet their expectations. This statistic is a powerful reminder of the advantages of online shopping, and is an important factor to consider when discussing ecommerce return statistics.
E-commerce return deliveries in the United States will cost $550 billion in 2020.
This statistic is a stark reminder of the immense financial burden that e-commerce return deliveries are placing on businesses in the United States. With the cost of returns expected to reach $550 billion in 2020, it is clear that the issue of returns is a major concern for businesses operating in the e-commerce space.
Ecommerce Return Statistics Overview
Clothing has the highest return rate among all e-commerce verticals, with over 56% of total returns.
This statistic is a telling indication of the importance of clothing in the e-commerce landscape. With over 56% of total returns, it is clear that clothing is a major factor in the success or failure of an e-commerce business. Understanding the return rate of clothing can help e-commerce businesses better manage their inventory, optimize their pricing, and create better customer experiences. This statistic is a valuable insight into the e-commerce industry and should be taken into consideration when discussing e-commerce return statistics.
85+% of customers who returned a product either exchanged it or received a refund for the product based on their preference.
This statistic is a testament to the fact that customers are being given the flexibility to choose between exchanging or receiving a refund for a product they have returned. It speaks to the level of customer service that ecommerce businesses are providing, and it is a sign that customers are being given the respect and consideration they deserve.
67% of online shoppers are considered "serial returners," those who buy multiple versions of one item with the intent to return some.
This statistic is a key indicator of the prevalence of serial returners in the ecommerce space, and is thus an important factor to consider when discussing ecommerce return statistics. It provides insight into the behavior of online shoppers and the potential impact of returns on businesses.
62% of consumers are more likely to shop online if they can return an item to a store.
This statistic is a crucial insight into the preferences of consumers when it comes to shopping online. It highlights the importance of providing customers with the option to return items to a store, as it can be a major factor in their decision to purchase from an online retailer. This information is invaluable for ecommerce businesses, as it can help them to better understand their customers and tailor their return policies accordingly.
41% of online shoppers buy items with the intent of returning some of them.
This statistic is a telling indication of the importance of returns in the ecommerce industry. It highlights the fact that a significant portion of online shoppers are actively engaging in the practice of returning items, and that this is an important factor to consider when discussing the overall success of ecommerce businesses.
More than 75% of customers returned up to 10% of their total purchases in the past year.
This statistic is a testament to the fact that customers are increasingly comfortable with returning items they have purchased online. It indicates that customers are confident in their ability to return items and that they are willing to take the risk of buying something online. This is a positive sign for ecommerce businesses, as it shows that customers are willing to trust them with their purchases. Furthermore, it suggests that customers are satisfied with the quality of the products they are buying, as they are willing to return them in such high numbers.
The average e-commerce return rate is between 20-30%, depending on the industry.
This statistic is a crucial piece of information for any e-commerce business, as it provides insight into the likelihood of customers returning their purchases. Knowing the average return rate can help businesses plan for potential returns and adjust their strategies accordingly. Additionally, this statistic can be used to compare the performance of different industries and identify areas for improvement. Ultimately, understanding the average e-commerce return rate is essential for any business looking to maximize their profits and minimize their losses.
27% of e-commerce shoppers abandon their cart when the return process is unclear or complicated.
This statistic is a stark reminder of the importance of having a clear and straightforward return process for e-commerce shoppers. Without a clear and simple return process, shoppers are likely to abandon their cart and take their business elsewhere. This highlights the need for e-commerce businesses to ensure that their return process is as user-friendly as possible in order to maximize customer satisfaction and retention.
86% of eCommerce buyers consider the return policy while making purchasing decisions.
This statistic is a powerful indicator of the importance of return policies in eCommerce. It shows that a majority of buyers take the time to consider the return policy before making a purchase, demonstrating that it is a major factor in their decision-making process. This is especially relevant for blog posts about eCommerce return statistics, as it provides a clear indication of the importance of return policies in the eCommerce industry.
Ecommerce return rates are expected to grow by $1.4 Trillion by 2025.
This statistic is a powerful indicator of the potential of ecommerce return rates to skyrocket in the coming years. With a projected growth of $1.4 trillion by 2025, it is clear that ecommerce return rates are on the rise and will continue to be a major factor in the success of online businesses. This statistic is a must-know for any business looking to stay ahead of the curve and maximize their profits.
The top reason for returns in online shopping is incorrect size, cited by 22% of e-commerce shoppers.
This statistic is a crucial piece of information when it comes to e-commerce return statistics, as it highlights the primary cause of returns in online shopping. Knowing that incorrect size is the top reason for returns can help e-commerce businesses better understand their customers' needs and preferences, allowing them to make more informed decisions when it comes to product selection and sizing. Additionally, this statistic can help e-commerce businesses develop strategies to reduce the number of returns due to incorrect size, such as providing more detailed sizing information or offering free returns.
Conclusion
The statistics presented in this blog post demonstrate the prevalence of ecommerce returns and their impact on businesses. Returns are a major cost for online retailers, with an estimated $550 billion spent on return deliveries in 2020 alone.
Clothing has the highest rate of returns among all e-commerce verticals, at over 56%, while other industries have average rates between 20-30%. Consumers often consider a retailer's return policy before making purchases, as 92% will buy something again if it is easy to do so. Furthermore, 41% of shoppers purchase items with the intent to return some or all of them - up to 10% according to one statistic - and 67% are considered "serial returners." Finally, free and easy returns can increase sales by 357%, but 27% abandon carts when they find that process unclear or complicated.
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ZipDo, cited June 2023: Ecommerce Return Statistics
