17 January 2024
Social media and influencers increase return rate
“Social media and influencers increase return rate”. El Publicista. 19 July 2023. Archived from the original on 17 January 2024. Applying personalised recommendations, improving product descriptions and optimising the overall shopping experience can turn returns into future sales opportunities.
In a world increasingly driven by technology and social media, data has become an invaluable resource for understanding and adapting to the dynamics of retail and e-commerce. Rever reveals how social media is reshaping the e-commerce returns process.
According to studies, products with higher social media engagement tend to have lower return rates. This is because users rely on the experiences and opinions of other consumers. Analysing and understanding this correlation between social media recommendations and returns is key for retailers to adjust their strategies and take concrete steps to offer their customers a more satisfying shopping experience.
Visual storytelling on social media, such as Instagram and Pinterest, has also been shown to have a significant impact on return rates. However, there are divergences between visual content and the actual customer experience that result in more returns.
By analysing consumer feedback and adjusting visual representations of products to more closely match reality, retailers can optimise their visual storytelling and reduce returns.
Influencers help build customer loyalty
The phenomenon of influencer culture has also been studied in relation to returns. While influencers can drive sales, they also contribute to increased return rates due to a mismatch between consumer expectations and product reality. By using data analytics and machine learning algorithms, brands can identify influencers that resonate with their target audience, thus minimising the likelihood of returns and maximising ROI.
Impulse purchases coupled with social media influence can result in higher return rates for e-commerce. However, by applying personalised recommendations, improving product descriptions and optimising the overall shopping experience, e-commerce platforms can effectively turn returns into future sales opportunities.
Returns, sales opportunities
Rever offers innovative and customised solutions for e-commerce to harness the potential of social media for returns management and customer loyalty. By analysing real-time data and tracking social media interactions, companies can gain valuable insights into the opinions and needs of their users, enabling them to improve their returns processes and offer customised solutions.
Analytics play a key role in aligning the dynamics between social media and returns in the retail and e-commerce sector. By adopting data-driven strategies, e-commerce can effectively respond to changing consumer expectations and needs. By leveraging social recommendations, optimising visual storytelling, effectively navigating influencer culture, addressing impulse buying trends and implementing SEO-friendly return policies, industry professionals can reduce return rates and strengthen customer relationships.
“In a digitised and socially connected world, social media plays a fundamental role in how consumers interact with brands and how returns are handled,” say Oriol Hernández and Màrius Montmany, founders of Rever. They add: “Our goal is to help companies turn returns into opportunities, making it an easy, fast and automated process, both for customers and for e-commerce itself.
In this ever-changing landscape, where returns converge with social media, making data-driven decisions is key to success.
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REVER is a startup born to revolutionise eCommerce, making the online returns process easier, faster and more sustainable. Born in 2022, the startup was co-founded by Oriol Hernàndez i Fajula and Màrius Montmany. To meet its ambitious expansion plans, the company has brought in internationally renowned investors such as Silicon Valley fund YCombinator, Sequoia’s scouting fund and Mundi Ventures, who join GFC and Óscar Pierre (CEO and co-founder of Glovo). REVER currently has a team of 25 people and a portfolio of more than 100 customers including brands in the Fashion, Shoes, Sports and Electronics sectors. Through a frictionless returns process, the startup enables eCommerce companies to improve internal efficiency and customer experience.
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