What is the Return Impact Index?
Return Impact Index analysis of your worst-performing products. The index shows the 25 products in your store that have the greatest impact on your return rate. By fixing problems with these products, you can quickly reduce your overall return rate.
Why is this important?
- Profit: Returns cost money. From processing to restocking, every returned product comes at a cost to profits. By targeting the worst offenders, you will make more profit.
- Reputation: Customer talk. If a product is returned frequently, it's a sign that something isn't right. Maybe it doesn't match the description or there is a quality issue. Doing something about this can lead to happy customers and better reviews.
- Insights: Studying why these 25 products are being returned will give you valuable insights into your product offering. Perhaps there is a pattern? Maybe a particular product category needs more attention? The Return Impact Index will help you do just that
Now what? Action!
- Get access to the index: If you use Returnista, go to "insights" and open the "Return Impact Index.
- Analyze the list: Review the 25 products. Try to find patterns. Are there size problems? Quality issues? Or is there something with the way they are presented online?
- Change: Based on the feedback, make necessary changes. These may include clearer product descriptions, better images or even product improvements.
- Monitor: After making changes, keep an eye on the return rates and continue analyzing the products lower on the list
Through this Impact index, Filling Pieces has decreased its return rate by 21%! Read more about it here