Intro
Returns negatively impact your profitability. Products with higher return rates inflate costs for warehouse storage, return shipping and unpacking, etc which all leads to diminished profits.
Minimize your return rates by integrating your product data into the ROIH platform. After the relevant data is connected, you can include this factor in your budget calculations. See which of your products have return rates that are higher than you'd like, and decrease spend on them accordingly.
Setup
Connect your return rate product data; for more information on connecting your custom business data, read here: Business Data Integration
Return rates must be connected on the Product level (or product variant level) to be correctly paired with Product Insights data.
In Product Insights, configure the corresponding Return Rate attribute for use in your data discovery
Determine your individual business threshold for good and bad return rates, then create segments of grouped products to exclude the worst offenders from your budget and focus your promotion on good ones. For example, Low Return Rate (<15%), Medium Return Rate (15-30%), High Return Rate (>30%).
Review segment performance in Segments Dashboard with the Chart view to compare different return rate segments with metrics like spend or revenue
Best Practice Tips
Combine return rates with other metrics that impact your profitability to inform your business decisions.
Lower spend on products with high return rates to prevent wasted budget and decreased profitability.
Use the export feature to share data of products with very high return rates with your purchasing department.