With the number of returns increasing year by year, most consumers are refusing to pay for returns. A study found that around 75% of respondents do not feel that they should have to pay for returns.
Purchases are still being pushed by discounts this year, with seventy percent of shoppers demanding a thirty percent discount to complete a transaction. Despite this, 88% of consumers did not give purchases with deep discounts a try because they weren’t sure if they could use the item or not.
An overwhelming majority of consumers are keen on paying the total cost for a product or service if they want it, according to a study. But, almost three-quarters are unwilling to do so if there is a chance of getting a better price somewhere else.
When it comes to returns, consumers are pretty clear on their preferences: Only 7% of consumers are willing to pay a fee for returns. The rest will avoid retailers that charge for returns, which is why Fortune 500 companies should consider helping their customers get their money back.
The hospitality industry is transforming, with more consumers declining to pay for returns. Baby Boomers — mostly women and older — 84 percent, compared to 71 percent of Generation Z and 69 percent of youngsters, are the group most likely to experience this way.
Consumers are not lukewarm about returns. Even in 2016, 92 percent of buyers making two hundred thousand dollars will withdraw buyers away from known companies who charge for refunds, comparable to 70 percent of individuals making less than fifty thousand dollars.
Not only do consumers lack the confidence to make returns, but the majority expect their purchases to take longer than anticipated, like one or two months.
Many consumers refuse to pay the full price. While the majority of shoppers are happy to pay what they agreed on initially, we found there's still plenty of room for negotiation in certain categories -- including kitchen gadgets and entertainment electronics.
Only 12% of consumers are willing to pay for returns, according to a study. But that number jumps to 34% for millennials – those between the ages of 18 and 34 – and 27% for Gen Xers and Boomers, the two oldest generations.
Read next: Cyber Monday Will Be The Biggest Online Spend Of The Year With Revenue Over $34 Billion
Purchases are still being pushed by discounts this year, with seventy percent of shoppers demanding a thirty percent discount to complete a transaction. Despite this, 88% of consumers did not give purchases with deep discounts a try because they weren’t sure if they could use the item or not.
An overwhelming majority of consumers are keen on paying the total cost for a product or service if they want it, according to a study. But, almost three-quarters are unwilling to do so if there is a chance of getting a better price somewhere else.
When it comes to returns, consumers are pretty clear on their preferences: Only 7% of consumers are willing to pay a fee for returns. The rest will avoid retailers that charge for returns, which is why Fortune 500 companies should consider helping their customers get their money back.
The hospitality industry is transforming, with more consumers declining to pay for returns. Baby Boomers — mostly women and older — 84 percent, compared to 71 percent of Generation Z and 69 percent of youngsters, are the group most likely to experience this way.
Consumers are not lukewarm about returns. Even in 2016, 92 percent of buyers making two hundred thousand dollars will withdraw buyers away from known companies who charge for refunds, comparable to 70 percent of individuals making less than fifty thousand dollars.
Not only do consumers lack the confidence to make returns, but the majority expect their purchases to take longer than anticipated, like one or two months.
Many consumers refuse to pay the full price. While the majority of shoppers are happy to pay what they agreed on initially, we found there's still plenty of room for negotiation in certain categories -- including kitchen gadgets and entertainment electronics.
Only 12% of consumers are willing to pay for returns, according to a study. But that number jumps to 34% for millennials – those between the ages of 18 and 34 – and 27% for Gen Xers and Boomers, the two oldest generations.
Read next: Cyber Monday Will Be The Biggest Online Spend Of The Year With Revenue Over $34 Billion
