If returns are crippling your business, you are not alone. According to Shopify, around 20 to 30 per cent of eCommerce orders end up being returned. For retail business owners, the expenses of these returns can really add up and cause a lot of concern over the profitability of their venture and the success of their sales. With so many returns, and to combat the throwaway society in which we live, a good refurbishment process is essential.
What is Refurbishment?
Refurbished products are items that have been bought and opened and, in some cases, used by a consumer. (Some devices are returned before they are even used!) Once they are returned, they go through a thorough and lengthy refurbishment process to bring them back to a sellable condition. What items can be refurbished? First of all it’s vital to note how important it is that the device is restored by a qualified expert (like those at EuroPC). All of the original parts should be included with the returned item and still within the original warranty. Additionally, the product itself should still be in a reasonably good condition. If the item meets these criteria, it’s possible to start the refurbishment process.
Why Businesses with Refurbishing Processes are Finding Success
Having a solid refurbishment process in place is helping out a lot of businesses right now – it’s good for your company, your clients and the planet. If you can establish a successful refurbishment process, it’s a win for all involved. Let’s investigate these areas in a little more detail:
- It’s Cheaper for the Customer. As everyone feels the pinch of the current economic climate, people are having to prioritise what they spend their money on and buying brand new gadgets likely isn’t on the list. However, you can’t just go about reducing your prices in the hopes of attracting customers on tighter budgets. Instead, you can offer more affordable options in the form of refurbished items. This way you’ll still get the custom of more hesitant buyers without compromising on your profits.
- It’s in between Brand New and Used. If someone can’t afford to buy new but doesn’t like the idea of buying it used, refurbished is a good compromise. These items look and feel new, but don’t carry the price tag of brand new items. This is why the refurbished tech market is thriving right now. By offering refurbished items, you are opening up your products to a whole new target audience and will likely see an increase in your profits as a result.
- It can Help You Recover from Losses Caused by Returns. Returned items are expensive drains on your profits so a good refurbishment process will really work towards improving that situation. Being able to sell refurbished items at a lower price is much better than making a loss on everything that gets returned. Even with the expense of refurbishment and the lower resell price, it’s still going to make a positive difference to your profit.
- It’s better for the Environment, and Better for Your Reputation. Refurbishing tech items is a great way to improve your carbon footprint and contribute positively towards the ongoing efforts to reduce tech waste. Making efforts in this regard is good for the planet and therefore good for reputation as many eco-conscious consumers today are more likely to buy products that have environmental benefits and have more trust in a company that is working in support of ecological issues.
Get Refurbishing
With a good refurbishment process in place, you can make a difference to your business, your profits, your reputation, and the planet. Clearly, it’s time to get refurbishing!
