LAS VEGAS, Nevada, March 24, 2023 – Speed Commerce, a leading ecommerce order fulfillment and call center services provider, has released a white paper about using artificial intelligence (AI) and data to reduce the return rate in ecommerce.
Ecommerce is here to stay. For merchants, that means establishing online practices to make your business successful. And for many, that means reducing returns. Returns can be a huge drain on profitability. But there are many things that a merchant can do to reduce the number of returns without sacrificing customer service or customer choice.
"Customers expect to return products at no charge and receive a refund for any reason and every purchase. Using data segmentation and AI, we can deliver product recommendations to customers that match their needs better and will result in fewer returns. Businesses need to know who their customers are and meet their expectations," explained Michael Manzione, Chief Operating Officer at Speed Commerce. "But ecommerce isn't without its perils. Fraud is rampant. With the help of AI, merchants can minimize this problem."
Software developers are using AI to help retailers identify trends in their data. With the explosion of AI tools, it isn't easy to know which ones are good and which ones to pass up.
Speed Commerce works closely with retailers to solve their most challenging problems in ecommerce. In their experience, they recommend the following:
• Using predictive modeling to anticipate your consumers' expectations.
• Take predictive modeling a step further and segment your customers into target audiences and develop marketing programs to their interests.
• Review your policies and remove incentives to return products.
• Automate what you can to supplement your current operations.
• And don't be afraid to outsource to experts.
Learn more about Speed Commerce's recommendations. Download the Speed Commerce white paper: "Using AI and Data to Reduce the Return Rate for eCommerce Merchants."
About Speed Commerce
Speed Commerce provides operational excellence to retailers, brands, and manufacturers, so they can focus on growing their core business.
We inventory their products in our strategically located warehouses across the country; our friendly staff will answer all customer touchpoints 24/7/365 (via phone, live chat, email, SMS, and on social media platforms) on their behalf; we pick, pack, and ship their orders same day; and process hassle-free returns.
In addition, we pass along huge savings using our combined volume to negotiate better freight, supplies, and shared labor rates. We also operate a personalization department with embroidery, embossing, and etching machines, and gift wrapping to personalize their products.
Our ecommerce order fulfillment reaches 95 percent of the U.S. in 2-days, and our call centers provide their customers with outstanding service 24/7/365.
Our clients get into business because they are passionate about a product or industry, not because they want to operate warehouses or call centers. They rely on us because we provide operational excellence, so they can focus on the products that got them into the business in the first place.
Learn more about Speed Commerce at our website, LinkedIn, Twitter, and Facebook.