The average return rate in e-commerce is nearly 20% and can be as high as 40% depending on your industry. Returns happen for a variety of reasons. It could be that something doesn’t fit, doesn’t work properly, or is the wrong item…or the customer just doesn’t like it. The best return platforms give you the chance to transform costly refunds into revenue retaining exchanges and potential lost customers into delighted, loyal shoppers.
Two of the most popular return platforms today are Loop and Returnly,/. But how do you know which one is best for your brand? The short answer is that it ultimately depends on what is important to you and your business. In this article, we’ll examine both and compare them. Read on to get a breakdown of how each platform holds up in the categories below so you can determine which one best fits your needs.
Customer Interface
Loop has a gift-exchange portal and upsell options with the ability to offer discounts and rebates for encouraging customers to opt for an exchange rather than a refund. Loop uses an ‘Instant Exchange’ feature. This places a temporary hold on a customer credit card in the event they don’t send the item back. Returnly uses ‘Returnly Credits’ to pay you in advance for exchange items so they can be shipped immediately. Or give ‘instant credit’ for customers to use at a later date, preserving your post-return revenue.
International Returns
Both Loop and Returnly offer international returns, but Returnly allows customers to get international return labels and customs forms. Returnly also offers support for different currencies. Loop offers international returns, but the customer is responsible for getting a label and shipping the item back. The importance of this feature really depends on the nature of your business and how much revenue comes from international customers.
Reporting & Analysis
You can get sufficient reporting from either platform that tracks the status of returns and integrates with your warehouse. Loop has an easy-to-use agent interface and provides robust reporting. This allows you to track which items are being returned most. It tells you the ‘why’ of returns and how much revenue is coming from exchanges. Returnly allows you to track customer satisfaction throughout the process.
Environmental Sustainability
Returnly has ‘Green Returns’, which uses machine learning and data science to determine if an item is re-sellable and lets the customer keep the item if it isn’t. For brands with brick-and-mortar locations, Returnly gives you the option to let customers return items in-store. This will reduce the cost and carbon footprint of return shipping and decreases waste from repackaging. Loop offers a ‘Keep Item’ feature that works based on pre-set parameters and allows for manual review before processing a refund. Loop also has printer-less returns using a FedEx QR code.
Cost/Budget
Returnly has an ‘App’ plan and a Premium plan. The App plan gets you basic return functionality to process and manage returns through your website. The Premium plan is where all the extra features are available, so you’ll have to spend more to get the best options. Loop has a more tiered pricing structure with Lite, Basic, Pro, and Plus plans. Both sites require a demo to obtain exact pricing.
Either platform will get the job done. Which is the best return platform for you really depends on the structure of your business. Loop has the slight advantage of multi-tiered pricing and monthly/annual billing for additional discounts. Returnly will be better if you have brick-and-mortar stores or higher international volume.
We love both for different reasons! Whichever option you choose, wrrk is here to help you get things set up and can seamlessly integrate either platform with your existing help desk.
