Newmine
  • Returns Reduction
  • Consulting
    • Omnichannel Operations Optimization
    • Organization Management
    • Re-platforming
    • Project Execution
    • Mergers and Acquisitions
    • Applications Expertise
  • Insights
  • Company
    • About
    • In the News
    • Affiliations
    • Community Impact
    • Events
    • Careers
  • Contact
Returns Reduction Consulting Omnichannel Operations Optimization Organization Management Re-platforming Project Execution Mergers and Acquisitions Applications Expertise Insights Company About In the News Affiliations Community Impact Events Careers Contact
Newmine
  • Returns Reduction
  • Consulting
    • Omnichannel Operations Optimization
    • Organization Management
    • Re-platforming
    • Project Execution
    • Mergers and Acquisitions
    • Applications Expertise
  • Insights
  • Company
    • About
    • In the News
    • Affiliations
    • Community Impact
    • Events
    • Careers
  • Contact

Retail TouchPoints Interviews Newmine on Last-Minute Holiday Returns Tips

02
Jan
2020

Last-Minute Holiday Returns Reduction Tips

On the heels of National Returns Day, Newmine was interviewed by Retail TouchPoints to identify 4 Last-Minute Tips To Mitigate Holiday Returns Challenges. Read the excerpt below to learn more.

2. Find The Balance Between Generous And Strict: Take Incremental Steps To Changing Returns Policies

In recent years, the advent of “fast and free” shipping caused shopper expectations to skyrocket, and forced retailers to adjust their fulfillment and reverse logistics capabilities accordingly. But as retailers realize how these offerings can spread their resources thin and deliver massive profitability hits, some have pulled back on their fulfillment efforts. For example, Kohl’s, Macy’s and Bed Bath and Beyond all shortened their return policies in some manner during the holiday season.

This of course poses a problem, since consumers are now used to having longer return time windows. Retailers now must handle a balancing act, juggling the cost to having a too-generous returns policy with the potential consumer backlash of a too-strict policy.

“First [long, free return policies were] a differentiator and now it’s about making yourself equal to the big players,” said Mark Lightbody, Partner at Newmine in an interview with Retail TouchPoints. “The pendulum shifted all the way from one side, where you did it on the retailer’s terms, to fast, free, easy. Consequently, you cannot just pull that pendulum back. The market won’t buy it.”

Lightbody explained that retailers must keep taking incremental steps in whichever direction they choose to move, to ensure that consumers both won’t abuse the process or be turned off entirely. For example, LL Bean ended its lifetime return policy in February 2018, replacing it with a one-year returns policy.

“Now you’re seeing retailers that say ‘we’ll give you a 60-day period for returns instead of a 30-day period,” Lightbody said. “It’s a gradual move to try to bring some sanity back to returns. You never know how shoppers are going to react. It’s a push and a pull.”

  • Author
  • Recent Posts
Jenny Gorlin
Marketing Manager at Newmine
Jenny is Newmine's Marketing Manager. Having recently completed her MSc. in Marketing at Trinity College, Dublin, Jenny brings a global perspective of consumer behavior and customer decision journeys. She's passionate about how omnichannel retail is being used today to create powerful customer experiences.
Latest posts by Jenny Gorlin (see all)
  • Newmine Releases KeepScore - January 12, 2021
  • The Silver Lining in Holiday Returns - December 22, 2020
  • PacSun Eddie Bauer CEO, Mike Relich Further Enhances Newmine Advisory Board - December 8, 2020
Related Posts
How the COO can own returns in 2019 ( 11 Jan,2019 )
Apparel Mag: The Missing Executive in the C-Suite ( 31 Jul,2019 )
So long, Jetblack: Walmart Sunsets White Glove Service ( 24 Feb,2020 )
COVID-19 Spotlights Need for Supply Chain Innovation ( 20 Mar,2020 )
Listen to Supply Chain Now Radio Interview Newmine ( 17 Jan,2020 )
Copyright 2020, Newmine, LLC.
30 Turnpike Road, Southborough, MA
West Sussex, United Kingdom
info@newmine.com
US: (855) 444-6463
UK/EU: +44 (0) 7729 727498