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Retention Rate
The retention rate is the metric for maintaining satisfied customers and revenue within the returns process by looking at the number of repeat purchases and accepted refunds.
By offering special promotions during the return request process, such as store credit for a new purchase or an instant exchange, online stores aim to retain customers before the original product is sent back.
An increasing retention rate indicates that more customers are choosing to make repeat purchases instead of opting for refunds.
How do you calculate the retention rate?
You calculate the retention rate by dividing the number of return requests that lead to a new sale by the total number of returned orders in the same period.
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Track & Trace
Track & Trace is a system used to track and monitor parcel shipments.
Supply Chain Management
Supply chain management is the process of planning, implementing, and controlling the flow of goods, services, and information from raw materials to the end user.
SKU
A SKU (Stock Keeping Unit) is a unique identification code used internally to distinguish a specific product or item within an inventory or store. It is used for tracking stock, identification, and product management.
Return conditions
Return conditions are the requirements a return must meet to be accepted, such as the condition of the product, the packaging, and the return period.
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