From the Blog
Nearly 30% of all products bought online are returned, most of which result in refunds. What if we told you that you don’t need to live by those rules? What if you could help your customers prefer exchanges to refunds?
Returns don’t have to mean lost revenue. Not with REX.
REX, Return Rabbit's smart recommendation engine, makes Return Rabbit the leading "exchange-first" returns solution on the market. Or in other words, we’ve launched an eCommerce returns platform that leverages customer buying behavior to provide recommendations that'll drive more exchanges. We’re here to help you uncover revenue opportunities through exchanges while providing a seamless, on-brand experience for your customers.
The future of eCommerce is REX
REX, short for Returns to Exchanges, provides customers with a returns experience that is similar to their shopping experience, but with more accurate and customized recommendations. REX removes the roadblocks of the return and exchange process and keeps the experience seamless for the customer.
It really is that awesome.
REX solves three major problems we often see in the returns and exchanges industry.
- Limited exchange options: Customers are usually forced to choose between generic exchange options that won’t excite them. Who wouldn’t just want their money back after that? REX solves this by offering customized recommendations that customers are more likely to exchange for, rather than a list of products they may or may not find interesting.
- Lack of revenue focus: When your returns management isn’t exchange focused, you lose out on potential revenue generating opportunities. But now, returns are no longer a cost-suck. REX gives your brand a second chance to prove your products and service match the customer’s original expectations so you can retain the revenue you generated in the first place.
- Tedious time to exchange: When the customer has to go through the whole buying process again, it discourages them from taking an exchange. With REX the exchange is instant, making it easy for them to get what they really want.
Think of it this way: automated returns management + personalized exchange recommendations = revenue retention.
We will continue to offer full catalog exchanges, but with REX, your customers will receive thoughtful product suggestions determined by you. This is especially helpful for brands that have a dense catalog of products, but want to highlight certain products based on parallel purchases. Instead of giving customers product and information overload, REX helps you approach your customer with your best foot forward.
A closer look at our next-generation solution
So how does it all work? REX leverages proprietary technology to provide thoughtful exchange recommendations to your customers. With REX, the exchange process becomes more tailored, efficient, and cost-effective.
The great thing about REX is that, despite how powerful it is, it’s simple to implement. For example, let’s say that a customer wants to return or exchange a product because it’s the wrong size. Within the Return Rabbit merchant portal, you can customize the product recommendations that are displayed when a customer chooses that return reason.
What your customer sees is a simple, straightforward way to exchange their product for a different size, color, or similar product.
Benefits of automated returns management
The eCommerce landscape is more competitive than ever, so every area of your business needs to be efficient—and that includes returns and exchanges. Why are returns and exchanges so important? Data shows that 86% of customers say that a positive returns experience would encourage them to shop with the same online retailer again.
Aside from retaining customers, an automated returns management system paired with the power of REX:
- Saves time and money: When your processes are automated, your customer support team has more time to tackle other complex problems.
- Improves customer loyalty: A seamless return experience encourages repeat purchases, fosters customer loyalty, and brand advocacy.
- Increases customer acquisition: 68% of shoppers say that they are more likely to purchase online from merchants who have an automated returns solution.
- Drives revenue: An exchange-focused returns experience increases your bottom line and encourages repeat purchases.
It’s time to make returns management work for everyone. It’s time for REX.
Gone are the days of returns and exchanges being a cost-center—now, they’re hare-raisingly easy. See why Return Rabbit drives 2-3x more exchanges and try out the power of REX for yourself today.