One of the main reasons e-commerce platforms have overtaken the traditional way of shopping is that people have been introduced to the convenience of receiving all their favorite items at their doorstep. And while you’d picture them to be overjoyed after opening their packages, some of them are often disappointed.
As an entrepreneur, no matter how confident you are about your product’s quality, you have to be practical enough to understand that it might not satisfy every customer and that anything can go wrong during shipment. Some people receive damaged or wrong products, while the rest are not entirely pleased by the product’s quality. This is why your e-commerce website is incomplete without a returns policy.
Returns management is a crucial factor that customers seek out before they buy products from an e-commerce site. Statistically, 63% of customers refrain from buying from an online store that doesn’t offer a return and refund policy. A whopping 92% have admitted to buying again from a site that offers quick and easy product returns.
Why do you need a return policy on your website?
- To attract and retain customers
- To increase loyalty and gain the trust of your buyers
- To create sales opportunities by suggesting products based on customer requirement
Best practices for your return program
- Make it easy to find, preferably under each product
- Mention beforehand if the product is returnable or refundable
- Provide a deadline before which they can return the product
- Customer feedback to determine what caused them to return the product
- Provide a choice between return or exchange to customers
- Offer free shipping for returns
- Incorporate an automated return program to save a lot of time and effort
Managing product returns using Magento
Understanding the need for a supportive return program, the Magento 2 RMA extension can allow Magento store owners to handle consumer return and exchange requests. The RMA return management allows developers and sellers to handle all RMA issues from the admin panel in Magento.
What is an RMA tool?
An RMA function is short for Return Merchandise Authorization. This extension assists your customers in returning, exchanging, and refunding products. The extension makes returns as easy as purchasing and is also generated automatically for your e-commerce business’s smooth running. Customers are simply made to fill out a form stating if they want to return or exchange. Once the merchant approves, a unique RMA number is given, and they can then track the status of the process till it is completed. With Magento 2 RMA extension, customers will experience superior and flexible returns policies, which will enable them to create these requests directly from your e-commerce website, and quickly return, exchange, or refund the products.
How does it work?
Receive Return request:
Anyone who can purchase from your website can request an RMA. This includes regular or registered buyers as well as guests.
Once the customer has contacted you (merchant) and if the product is eligible for a return, you can then authorize a return partially, entirely or you can also cancel the return request if the product is not eligible for a return. If you authorize the product return and also agree to waive the return shipment, you can then create a shipment order with a carrier. It could help retain customers, considering nobody would like to be dissatisfied with a product and then pay for the return shipment!
Once that is done, an RMA number is assigned. This comes in handy in the returns grid in the Magento panel, where current return requests and new return requests are listed and entered.
Product received and return completed:
Once the product has been successfully returned to you, you can then create a credit memo. Returned items will be returned to the inventory, and the customer will be given a choice of store credit or online refund. Depending on the choice, you can select “online refund” or “refund to store credit” and submit to send the credit memo. The refund is then applied to the credit card or customer account, and the return process is complete.
Key features of Magento 2 RMA extension
- Select all or a particular item and process requests automatically on the panel
- Generate shipping labels automatically
- Enable or disable product returns for particular items.
- Set a period for return requests
- Use a live chat to communicate with your customers to assist with returns or exchange
Any e-commerce website is incomplete without a return policy. Its absence is widely considered a reason for customers to not indulge in buying from them. Magento 2 RMA extension is a must-have tool to manage your product returns and exchange while also improving customer loyalty and eliminating business risks.
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