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%”