Through the growth of eCommerce-past, present, and future-and the booming effect it has had on the shopping sector, we covered the growth of eCommerce in its many forms. Because the holidays have only heightened outlets for accessing goods, consumers have had an abundance of options for purchasing and returning items. Conversely, retailers face a crossroads between preventing losses and seizing opportunities.
Shopper habits on online marketplaces
Consumers started looking for ways to maximize their purchases as the world spun into digital and distanced shopping. In what way? Based on their preferences and return policies:
- Unwanted goods can be returned for free 85% 85%
- Having proof of return 84% 84%
- Friendly staff 70% 70%
- Hassle free returns 80% 80%
Likewise, three out of five consumers believe that having a challenging return experience would prevent them from doing business with a retailer again.
What are Consumers Returning and Why?
Since online shoppers no longer have the option of trying things on in physical stores, they have decided to order the same items in multiple sizes, bracketing the order, to make sure they are getting the right size, and return the rest: the most common reason for returning items is that they don’t fit properly.
When you’re willing, there’s a way to create an online marketplace
The growth of eCommerce presents an opportunity for buyers and sellers to come together to create an ecosystem that will continue to generate revenue: “Leveraging a digital platform to bring together sellers, buyers, and service providers opens up a world of new revenue.” By utilizing BDSTX businesses and consumers can leverage on popular B2B marketplaces to sell their inventory. Wanna learn more? Check out our helpful Seller’s Blog.