Most shoppers are willing to pay a small fee to obtain a convenient returns experience, according to Why Shoppers Expect And Are Willing To Pay For Premium Return Experiences, a study by Loop.
Of those polled, 33% are very willing to pay and 37% are somewhat so. Moreover, 50% have already paid a fee.
Those in the 28-40 age category are most willing: 72% are agreeable to pay to make a return, and 82% will pay a small fee for a more convenient experience. In contrast, only 16% of the 57-75 cohort would pay a fee to make a return.
Younger generations are more likely to:
- Always review a retailer’s return policy to gauge how sustainable their business is
- Shop with a retailer that offers eco-friendly or sustainable return options
- Purchase from retailers that clearly communicate the sustainability measures in their return process
The top five return methods used by consumers in the last 12 months are:
But this depends on age. Consumers in the 18-24 range prefer dropoff at a shipping partner (69%), at-home product pickup (51%) and return to a retailer’s storefront (38%).
People aged 25-40 prefer drop-off at shipping partner (67%), return directly to a retailer’s storefront (52%) and at-home pickup (44%).
Those in the 41-56 category choose drop-off at shipping partner (66%), return directly to a retailer’s storefront (37%) and either at-home pickup (28%) or return to another retailer’s storefront (28%).
The study argues that As it turns out, return policies themselves are powerful purchase incentives.
Of consumers, 98% of consumers agree — and 74% agree strongly — that if a retailer provides “a fast, convenient and hassle-free return experience they’re more likely to shop with them again in the future.”
Loop surveyed 1,000 US online shoppers in December 2022.