Consumer electronics can be a lucrative sales category for retailers. It seems that everyone wants the latest and greatest smart gadget or wireless device, and there are times when you may have trouble keeping inventory on the shelves. But there is a downside, too: electronics returns.
As much of the world shifts toward online shopping, product returns of consumer electronics are on the rise. Because online shoppers don’t get to try products out in person, they tend to return items more frequently. These “changed my mind” returns are labeled NFF or No Fault Found, and they make up about 68% of online product returns. Where electronics are concerned, NFF returns can be a big hassle for retailers.
There are several common reasons shoppers list for NFF electronics returns. Each of these reasons offers retailers an opportunity to improve the product’s webpage, offering additional information to allow consumers to make a more informed decision. This added information, in turn, can help cut down on NFF returns in the future.
One common reason for returns is that the product is missing a specific feature that the customer needs or expected it to have. Unless you are the manufacturer as well as the retailer, you likely can’t change the features included on items you sell. But you can make clearer product listings, letting consumers know exactly what features are included with each product.
Be sure to include a full list of features in every product description. It’s also a good idea to check the images on each product page. Include pictures that show the major features consumers can expect each product to have. And ensure your images don’t suggest features that the product doesn’t actually have, as this will lead to precisely the kind of confusion that results in returns.
One of the most common reasons for negative reviews is a complicated setup process. Users want a streamlined and simplified setup that’s easy to understand and execute. Yet many electronics manufacturers don’t invest in setup instructions beyond the minimal requirements. Fortunately, there are ways to correct this as well.
Consider creating tutorial videos on your site, showing how to set up your top products. Simply written step-by-step instructions can often be helpful too, but be sure to keep them easily understandable. The idea is to improve on any instructions included in the product packaging, not to simply rehash them.
Of course, setup is only the first step. If the product is frustratingly difficult to operate, it’s likely to be returned. Similar to the setup problem, you can combat this with tutorials and instructions on your product page.
Create excitement about your products by showing off some key features and uses in informative and entertaining videos. Provide an FAQ section with instructions to help users perform common functions. Create an internal database for your customer support staff to help them answer common questions about each product you sell.
No matter how much you improve product listings and customer experience, you’ll still get some returns. There will always be consumers who make impulse purchases and then change their minds, and others who don’t carefully read descriptions to ensure the product will do what they expect it to do. So what should you do with these consumer electronics returns?
Some brands choose to remarket returned items as open box. This is certainly an option, but it can lead to a lot of headaches and can actually harm your brand reputation in the long run if consumers aren’t happy with the condition of the products received.
Instead, consider liquidation auctions to solve your consumer electronics product return woes. A liquidation auction offers a quick turnaround on products without the need to inspect and test each item beforehand. You can sell new, open box, and salvage items in bulk, from single pallets up to full truckloads. And since buyers are competing for your products, you can be sure you’re getting the best price that the secondary market will sustain.
When you partner with a trusted recommerce company like B-Stock, you’ll also gain plenty of insight, strategy, and support needed to set up your auctions. Our global network of fully vetted business buyers is ready to purchase your excess inventory via our simple online auctions process. We have options for small businesses and enterprise solutions as well, so you’ll find a solution perfect for your business, no matter the size.
Learn more about consumer electronics liquidation auctions with B-Stock today, and turn that excess returned inventory into capital for your business.