Market Intelligence

Why the Right Tech for Returns is a Retail Store Imperative

Our new survey research reveals where and how Retail Leaders are winning with their store strategies.

A significant amount of retailers say handling online order returns in-store is a top challenge, that the increase in volume of online order returns to stores has created new costs, and that omnichannel fulfillment and returns require new associate roles and workflows.

As ecommerce makes shopping easier than ever before, it’s creating an unintended influx of product returns; the average return rate for online orders is 3X higher than the return rate for in-store purchases.

Retailers Have a Lot to Wrestle with Returns …

Product returns are a necessity to meet consumer expectations but have proven to be a complicated and expensive proposition for retailers. Some experts estimate the average return costs for retailers are between 15 to 30 percent of the original purchase price, while cumulatively, returns cost retailers $550 billion every year.

The growth of digital commerce has only compounded this issue. As ecommerce makes shopping easier
than ever before, it’s creating an unintended influx
of product returns; the average return rate for online orders is 3X higher than the return rate for in-store purchases.

About Jumpmind

Known for its cloud-native, mobile Point of Sale (POS) platform, Jumpmind offers the most modern and technologically leading POS and unified promotions to support inspired shopping experiences that empower both shoppers and the retail associates who serve them.

While most POS platforms are designed to meet retailers’ current needs, Jumpmind builds a system designed for the future. Business requirements can shift, customer expectations can evolve, and hardware preferences change over time. That’s why Jumpmind solutions — which are built by retail industry veterans — are technology agnostic, adaptable and future-proof, enabling retailers to stay ahead of the curve through agility, at scale.

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Jumpmind Recognized as a Leader in The Forrester Wave™: Point-of-Service Solutions, Q4 2024
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