Decoding eCommerce Success: Key Returns Management and Reverse Logistics Statistics
1. Around 40% of organizations today are not pursuing more solutions to streamline supply chain processes. (Source)
2. Inventory and managing the warehouse is climbing in relevance and value. The number of warehouses in the US has increased 6.8% over the past five years. (Source)
3. The average inventory accuracy threshold for retail operations is just 63%. (Source)
4. 44% of US shoppers mix online and in-person shopping activities across 15 product and service categories. (Source)
5. By the year 2020, 60% of the top manufacturers will rely on digital platforms that improve their investments in ecosystems, experiences, and support in access of 30% of the company’s overall revenue. (Source)
6. By the year 2021, 20% of the top manufacturers will depend on a secure backbone of embedded intelligence using IoT, blockchain, and cognitive systems to automate large-scale processes with execution accelerated up to 25%. (Source)
7. By 2021, a third of all manufacturing supply chains will be using analytics-driven cognitive capabilities, which will increase cost efficiency by 10%, and service performance by 5%. (Source)
Emerging Trends in eCommerce: Key Statistics Shaping Reverse Logistics and Returns Management
8. Only 17% of businesses are out of the supply chain automation loop. That’s a remarkable shift from the last four years when Morai Logistics mentioned the figure at 40%. This means that the automation of supply chains is moving beyond the realm of competitive advantage and alternately becoming business-as-usual. (Source)
9. According to data compiled by Invesp, over 51% of retailers provide same-day delivery. An estimate of 65% is expected to have the same offer within the next couple of years. Almost 60% of online consumers between the ages 18 and 34 expect or assume same-day delivery, while 61% of all consumers are actually willing to pay extra for such service. Around 96% of customers now believe that fast delivery equals to same-day delivery. (Source)
10. The Hackett Group’s study revealed that even though 94% of supply chain leaders say that digital transformation will fundamentally change supply chain management, only 44% were actually ready with a strategy at the start of 2018. (Source)
11. According to Deloitte survey, almost 80% of organizations that have superior supply chain capabilities report remarkable above average growth in the revenues. (Source)
Decoding eCommerce Success: Key Returns Management and Reverse Logistics Statistics
12. 85% of leaders against 49% of followers use customer satisfaction as a metric for returns. 68% of leaders against 48% of followers track customer retention as a returns management KPI. (Source)
13. 65% of leaders against 36% of followers capture and analyse product-specific return data for forecasting future needs. 63% of leaders against 43% of followers process returns on a daily basis themselves or via a third-party service provider. (Source)
14. In the year 2015, the return delivery costs reached $246 billion in North America alone, and globally reached over $600 billion. Over $65 million worth of defective sales products were returned to stores worldwide in the same year. (Source)
15. Clothing and accessories were the largest share of returned items in 2016. There are 5.8 million packages were returned in the first week of January 2016 in the US. (Source)
16. At least 30% of all products that were ordered online are returned while there are only 8.89% in brick-and-mortar stores. Around 49% of retailers now offer free return shipping. (Source)
17. The top reasons why consumers return products are: (20%) received damaged product, (22%) product received looks different, (23%) received the wrong item, and (35%) named other reasons. (Source)
18. 92% of consumers have said that they are willing to buy something again if returns are easy, 79% of consumers want free return shipping. (Source)
19. 67% of shoppers check the returns page before making a purchase. 58% prefer a hassle-free no questions asked return policy. 47% prefer an easy-to-print return label. (Source)
20. 62% of shoppers are more likely to shop online if they can return an item in-store. 27% of shoppers would buy an item that costs more than $1000 if free returns are offered while 10% would buy otherwise. (Source)
Reverse Logistics in Focus: Returns Management Statistics
21. Apparel brands estimated one out of four loose-fitting garments were returned, and almost 50% of all tight-fitting garments were returned. (Source)
22. 23% of returns are due to the wrong item being shipped, and 20% of returns are due to damaged items. (Source)
23. 22% of returns are due to a product appearing differently in-person than it does in the photos. High quality images could not only boost sales but also minimize returns. (Source)
24. The returns rate is 8% for items bought in brick-and-mortar stores, and the rate escalates to 25%-40% for items that are bought online. The most common returned merchandise are apparel and shoes with a return rate of 30%-35%. (Source)
25. 82% of customers who return items are repeat customers. (Source)
Analyzing eCommerce Returns: Trends and Strategies for Apparel and Shoe Retailers
26. In 2017, approximately 1.6 billion people worldwide bought online goods with global eRetail sales reaching $2.3 trillion. Projections show a growth of $4.48 trillion by the year 2021. (Source)
27. Total retail sales is projected to reach $22.737 trillion by the end of 2018, which is up by 5.8% from 2016. The projection exhibits the growth in digital buyers. (Source)
28. 71% of shoppers believe that they will get a better deal online than in stores. (Source)
29. By 2019, there will be an estimated 224 million digital shoppers in the United States. (Source)
30. U.S. ecommerce sales will increase to $485.3 billion by 2021. (Source)
31. 17% of the small business market has tried to create their own online ecommerce store (Source)
32. 71% of consumers who have had a good social media experience with a specific brand are likely to recommend that brand to others. (Source)
33. 28% of online shoppers would abandon their cart if the shipping costs are too high. (Source)
