AI predicts whether you’ll return an item before you buy it
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This is one of the most informative articles that I’ve read on eCommerce return rates, driving factors and the tools being developed to help predict outcomes.
“With sales anticipated to reach $4 trillion by 2020, ecommerce is an unstoppable force.
It’s estimated that as high as one-third of online orders are returned, which whittles down profit margins.
4% occur when there are some similar products present in the cart
53% of returns are due to size- and fit-related issues
older inventory has an almost doubled return rate compared to newer items.
Cart sizes exceeding five products seeing return rates around 72% compared with 9% for carts with one product
In experiments, the best-performing return-predicting AI system achieved 83.2%”
