A Better RefundTM builds customer loyalty resulting in increased CLV (customer lifetime value) and lower CAC (cost of acquiring customers). Just because you lose a sale, doesn’t mean you have to lose a customer. Over 40% of consumers have admitted to bracketing purchases in the past year (ordering with intent to return). This is common practice, allowing consumers flexibility when unsure of size, fit, color etc. If customers are not afforded a favorable refund experience, consumers may shop elsewhere. In fact, 90% of consumers would make repeat purchases with a merchant if they offer instant refunds. And 8 out of 10 consumers will have had such a good experience, they would leave a positive review.
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