Accessorize: Product Returns and Revving Up for the Holiday Sales Season
Product returns have plagued manufacturers and retailers for decades. It can be disheartening and disruptive when products come back from consumers. CEA released a study this July called Product Returns and the Economic Landscape that looked into return rates and reasons behind returns. Understanding why consumers bring products back is a good step to help you prevent as many returns as possible.
According to the study, return rates for consumer electronics products have remained steady since 2008, as currently 8 percent of products are being returned to manufacturers and retailers. While the percentage has kept steady, the number of CE products entering the market place keeps going up so that means more net inventory is being returned.
Why Do Consumers Return Products?
In the past two years, consumers cited "did not work as expected" as the number one reason for returning a product, with more than one in three finding this problem. Consumers today expect their CE products will be ready to go and easy to use right away, so it should come as no surprise that 29 percent of returns were because the product didn't work out of the box. Another 24 percent returned devices because they broke while in use. Other reasons on the list included choosing another model, received wrong unit for needs, already owned the product or a set up that was too difficult.