XPO Logistics, Inc. (NYSE: XPO), a leading global provider of transportation and logistics solutions, has released an additional statistic from an October 2018 poll about consumer e-commerce behavior. The survey found that 86% of US consumers believe an e-tailer’s return policy is among the most important considerations when deciding where to shop.
The survey, which was announced by XPO in November, was conducted for the company by Goodmind, an independent firm that specializes in quantitative and qualitative consumer research. XPO previously released the finding that 37% of US respondents plan to make an online purchase of furniture, appliances or other big and bulky products in the next 12 months.
Reverse logistics, or the management of returned goods, is one of the fastest-growing areas of contract logistics. XPO helps customers monetize over 170 million returned products annually through resale, recycling or disposal by managing inspections, refurbishment, repackaging, warranty processing and refunds. E-commerce companies and omnichannel retailers are increasingly outsourcing reverse logistics as a way to build brand loyalty.
Troy Cooper, president of XPO Logistics, said, “We’re seeing consumer behavior change in real time as expectations evolve. Return rates for online retailers can be as high as 30% for some products, as shoppers buy multiple sizes or colors with the intention of keeping just one. We work closely with e-commerce companies to manage a seamless consumer experience, using predictive analytics to forecast future returns and control costs. This allows our customers to offer shoppers meaningful incentives, such as free shipping.”