We’ll start by gathering Evaluate the expenses your refund data. It’s best to do this at the end of the month so you have a full month’s worth of data. Your POS system should track this data for you—here’s how to check it in Lightspeed’s retail POS software.
In Lightspeed Retail In job seekers data your back office, navigate to Sales > Sales History .
- Change the date range to this month. Click Apply.
- Select the Refunds tab . Save the report, either by taking a screenshot or printing the page.
- Set a reminder to review your repayment totals at the end of each month to get an overview of your repayment spending.
In Lightspeed eCom :
- In your back office, navigate to Orders > Returns.
- Add up the total returns listed for the last month. Keep this information somewhere you can track returns each month.
- Set a reminder to check your repayment totals at the end of each month to keep a continuous picture of your repayment spending.
If your returns expenses are generating seo from industry conferences so high that you can’t easily manage other business expenses, you may need to adjust your returns policy to be less flexible, but it should still be tailored to meet your customers’ key needs. If the totals are within manageable levels, you have the opportunity to improve things for your customers.
Remember that returns Evaluate the expenses aren’t lost sales. They’re marketing opportunities that influence customer loyalty.
Learn more — Returns, refunds, free shipping: your eCom guide
Record return reasons in your cash register software to gain better visibility into the real causes of your product returns.
With Lightspeed Retail and eCom, you can annotate return reasons directly in the backend and create new return reasons based on customer feedback.
If, for example, a customer wants aero leads to return a pair of pants because they have a manufacturing defect, you can select “Defective Product” in the return reasons.
To create a return reason,
- Go to Orders > Returns.
- Click Add or edit return reasons.
- Click Add a return reason and write the desired reason, such as Wrong size or Defective product.
Update your return policy
If you currently charge shipping or restocking fees, it’s time to evaluate your finances to determine if you can reduce or eliminate what customers have to pay .
If you don’t accept returns or exchanges without a receipt, you might consider offering these customers their refund in the form of a gift card, especially since 59% of customers spend more than the value of their card.
