Returns are not a pleasant word in the ecommerce world. It can impact the brand’s entire reputation and profitability, making it every retailer’s worst nightmare. 30% of all online purchases result in returns, and for brick-and-mortar stores, the rate is 8.89% only. Sellers lost over 600 billion dollars worldwide due to returns every year. This can be the reason why some retailers hesitate to offer a return option to their customers. However, you must provide the finest possible consumer experience for long-term survival in a cutthroat industry like e-commerce.
Although customer intent and product quality are factors in the extremely high return rates, research shows that mistakes made by retailers account for 65% of all returns. Nearly a quarter of the returns are the result of customers getting the wrong product. Another 22% of ecommerce product returns are due to items that look and act differently in reality than they did when ordered.
Why do people return their products?
An advanced PIM solution can help you reduce product return rates without spending many resources. Product returns due to inaccurate product information can be lowered with the help of PIM tools. It will assist you in optimizing your product data and assets, including descriptions, images, and technical details. This process ensures consistency and quality of the data you deliver to your customers.
Top-notch data quality
As a seller, you might want your products to be well accepted in the market with a rating higher than 4. In order to achieve this, you need to showcase transparency throughout the purchase journey. People usually dislike and return products when they differ from the proposed size, color, pattern, fabric type, or other mentioned features. Delivering the most accurate product information is vital for satisfying your customers and for reducing your product returns.
PIM offers automated data enrichment capability, which updates and maintains product information in a centralized fashion. Every time your product data is updated, it will be reflected at all your sales points, ensuring data consistency. Streamline your product data management to update your product data in real-time for better product conversion. The credibility of the product information is further increased by the automated data enrichment process, which removes the need for manual intervention and human-caused errors.
Appropriate product visuals
It is always the image that gives your customer the first impression about the product. 75% of the customers said that the product image influences their online purchase decision. So, providing a compelling image that reflects all the features of the product is essential to deliver its value. Just like the saying, a picture speaks a thousand words; a quality visual outweighs all the secondary information we provide. You should aim to mimic the in-store experience as closely as you can because online buyers cannot touch, feel, smell, or try on things in a virtual environment. Images and visuals are the nearest options which deliver a real-world-like experience to the customers. Make sure to give your customer the best experience by providing a 360-degree view of the image for better understanding.
A customized PIM solution can take care of all your product information management needs, including delivering the right visuals to appeal to your customer. When choosing any visual asset for the product, it’s essential to give a real-world experience to the customer by providing 3D images and videos. This is where a PIM tool can simplify this complicated process. Using Digital Asset Management (DAM) capability, users can centralize all their visual assets in one place for better visibility. Users can see the visuals in PIM and evaluate its quality for delivering the best customer experience and reducing return rates.
Complete product data
Every ecommerce sales platform differs in the way they showcase its products and their information. Every forum has its own guidelines that sellers should follow while uploading their product assets. A PIM solution will help the user to follow all the procedures without spending any internal resources, thereby enhancing the efficiency of business operations. For instance, the digital asset requirement of ecommerce platforms varies. In some ecommerce platforms, they provide an option to give a 3D view or videos of the products listed. In that case, without a PIM tool, suppliers find it difficult to tailor and categorize visual assets that fulfill the needs of the targeted platform. A customized PIM tool will syndicate your data to multiple ecommerce platforms adhering to the guidelines they follow.
A focused PIM tool will enrich and update product data to make sure the user gets all the data they need before making any purchase. Only complete data can create a good impression about your brand, as customers perceive your product features as reliable. Automated data validation ensures that the data you have uploaded is of utmost accuracy and precision. This process further enhances the credibility of your product information. Through data validation, users can identify any data errors in the product listing at the right time.
With all these features, PIM can be considered as an essential tool to deliver the best customer experience and lower product return rates. PIMworks provide all these capabilities to make your product stand out in the market. Talk to our experts to integrate PIM into your workflow to improve your conversion, not your returns.