Returns management in eCommerce
Returns management has become a growing need for ecommerce brands.
With the eCommerce market projected to exceed $8.1 trillion by 2026, the competition to stay relevant and profitabe is intensifying by the day.
One crucial aspect often overlooked by many online brands is returns management, which can significantly influence the success or failure of a business. Returns can either eat into your profits or be leveraged to enhance brand reputation and customer loyalty.
The average eCommerce return rate is 18% which means out of every 100 orders placed, 18 are returned. Last year, the cost of online returns in the US reached a staggering $817 billion.
This clearly shows the importance of returns management, but it’s important that merchants handle returns smartly without draining their finances.
Nowadays, the eCommerce space is crowded with returns management solutions. With so many options promising similar benefits, it can be tough to choose the right one.
In this article, we will draw a comparative analysis of EcoReturns vs Loopreturns to help you choose the one best for your business.
Overview of Loop Returns
Loop Returns, founded in 2019, is an eCommerce returns management software that focuses majorly on providing an excellent post-purchase experience to shoppers and converting returns into exchanges. Rated 4.6 on Shopify, merchants appreciate this app for simplifying the returns workflow and reducing manual work. Here’s one such review-
Overview of EcoReturns
EcoReturns is an AI-powered returns management software for eCommerce that helps brands reduce, automate and manage returns end-to-end. It focuses majorly on returns reduction and automation. Rated 4.9 on Shopify, EcoReturns is the first-ever ChatGPT-powered returns solution that helps shoppers place return/exchange request through chat while the widget empathizes with the shopper just like a human. Here’s one such review-
EcoReturns vs Loop Returns: Which returns solution is best for your business?
Below is a comprehensive comparison for you to understand the differences between Loopreturns and EcoReturns:
Affordability
EcoReturns offers a compelling proposition that does not burn a hole in your pocket.
Unlike Loop Returns, EcoReturns does not impose the burden of any annual contract plan on merchants. Plus Loop Returns asks you to pay extra for each feature you want.
EcoReturns offers a flexible range of pricing options tailored to suit the needs of eCommerce brands of any scale.
From a free version that provides essential functionalities to an all-inclusive $89 monthly ultimate plan, EcoReturns has a pricing tier suitable for every merchant.
But this affordability doesn’t come at the expense of features. From advanced exchanges to an AI-powered incentive engine, discounted shipping labels, multi-language support, and much more, EcoReturns delivers a comprehensive suite of features to streamline your returns process and boost customer satisfaction.
Loopreturns Pricing-
EcoReturns Pricing-
ChatGPT-powered returns
This is one feature that we’re extremely proud of!
EcoReturns is the only eCommerce returns solution in the world that uses the power of ChatGPT to make returns seamless both for you and your shoppers. The ChatGPT-powered returns solution offers personalized support to shoppers just how a human would do!
It also persuades shoppers not to make a return by offering them incentives intelligently, thus reducing refunds and increasing profits. You can also discover insights on human aspects of your returns that you’ve never known before, helping you to improve your products and processes further.
Returns reduction and fraud prevention
Returns reduction:
EcoReturns offers a 3-layered returns reduction technology. With the power of AI at its core, EcoReturns goes beyond traditional returns management. It intelligently offers and optimizes incentives to shoppers, encouraging them to keep a product rather than initiating a return.
Whether it’s a percentage of the product value, store credits, or a flat discount, EcoReturns leverages AI to personalize and optimize incentives and encourage exchanges.
It also persuades shoppers not to make a return by offering them incentives intelligently, thus reducing refunds and increasing profits. You can also discover insights on human aspects of your returns that you’ve never known before, helping you to improve your products and processes further.
Loop Returns, on the other hand, focuses more on converting returns into exchanges and reducing costs associated with returns by automating workflows.
Returns fraud prevention:
EcoReturns’ robust AI engine identifies and flags risky orders based on over 55 parameters, helping to prevent returns fraud and protecting your business from potential losses.
Loopreturns focuses more on return policy abuse and incentive abuse.
Automations
Automate returns, exchanges, refunds, label generation and much more with the smart automation rules of EcoReturns.
With EcoReturns’ smart automation rules, you can revolutionize your returns process, saving up to 80% on operational costs while boosting overall efficiency. Imagine automating almost every aspect of your returns and exchange process, eliminating tedious manual tasks and freeing up valuable time and resources. From initiating returns and exchanges to issuing refunds, scheduling pickups and generating shipping labels, EcoReturns handles it all seamlessly and effortlessly.
Migrate to EcoReturns
Other features
Integrations
EcoReturns is integrated with 100+ logistics, payment, ORM, WMS partners to make reverse logistics absolutely seamless for you. Some of our integration partners are FedEX, WareIQ, ECom Express, Easy Post, Zendesk, Gorgias, Postnord and many more.
Fully Customizable Returns Portal
Returns portal is where your customers initiate a return/exchange request. Customize it fully as per your brand guidelines directly from the dashboard. You can also add your own CSS to customize the consumer workflow.
Exchanges
Encourage exchanges to reduce returns! You can choose from the multiple exchange options EcoReturns offers. Allow shoppers to exchange from all products in your catalog or allow exchanges with products as per price range and product tag configurations – the choice is yours! And all of this happens inside your own website.
Analytics
Get access to insights you’ve never known before. Take necessary actions to improve your products or process with data such as top returned products, customers who return the most, top return reasons, revenue saved, return/exchange TAT and much more.
Notifications
Keep your customers informed at all stages of their return/exchange process through SMS and Email. Edit templates on your own and use your own email address to send notifications to customers.
Return Policy
Create return rules either by using our ‘commonly used policies’ or curate your own with the multiple options available in the EcoReturns dashboard. You can also restrict/allow returns and exchanges based on the conditions that you choose for your store.
Check out this return policy template to create your own return policy.
Picture Collection
Collect pictures from shoppers for specific return reasons of your choice.
In short, EcoReturns checks all the below boxes:
Affordability
ChatGPT-powered returns
3-layered returns reduction technology
Returns fraud prevention
AI-powered incentive engine
Perform N-number of automations
Sustainability-focused
…and much more!
Who should choose Loop Returns?
Loop Returns is perfect for well-established brands since its expensive and charges a set up fee too. Also, Loop Returns is suitable for brands looking to offer their customers a great post-purchase experience.
Who should choose EcoReturns?
The competition is neck-to-neck, but in our opinion, you should always go with a returns solution that grows with you. EcoReturns can be your returns partner irrespective of the size of your business. From smaller D2C brands to enterprises, EcoReturns takes care of every brand according to their needs. In short, if you are looking for a returns app that is affordable, prevents returns and fraud, saves time with automations and also provides a great customer experience – EcoReturns is going to be your perfect returns partner!
We hope you zero down on your returns management software soon and start leveraging returns to the benefit of your brand.
