The e-commerce business is growing more than the predicted growth rate due to the Covid-19 crisis and with social distancing being encouraged. At the same time the most worrying factor is the surge of product returns. E-commerce market statics show approximately 30% of all products ordered online are returned.
One of the main reasons for product returns is that online Product information does not match the product received and they look different in reality. This is because of incorrect, inadequate or misunderstood product information. It’s all about better product information which can reduce the returns. Returns not only cause huge revenue loss, but also lower customer confidence and market reputation.
How online retailers can proactively improve the product information? It can happen only though a focussed approach to improve the accuracy of the product data. The product information should meet customer expectations and improve their experience.
What are the key characteristics of good product information?
By implementing a robust Product Information Management (PIM ), companies will provide a detailed information about the products sold online. We at Enventure, help organizations to enrich accurate product information on their online store to provide complete product specifications, to help customers make the right purchase decisions and drastically reduce returns.