Accenture: Returned Electronics Costing Retailers

14 Dec, 2011 By: Chris Tribbey

---

American consumers are returning electronics products 21% more often in 2011 than in 2007, costing retailers and manufacturers nearly $17 billion, according to a study by Accenture.

“These high consumer electronics return rates are unsustainable in a sector with brutal competition and thin margins,” said Mitch Cline, managing director of Accenture’s electronics and high-tech group. “Manufacturers and retailers should do more to differentiate their customer service by helping consumers understand, set up, use and optimize the products they purchase.”

The research found that more than half of retailers surveyed (57%) and nearly half of electronics manufactures surveyed (43%) reported higher return rates during the past three to five years, with only 13% of retailers and 12% of manufacturers reporting fewer returns.

According to Accenture, only 5% of returns were related to product defects, with 27% of returns due to “buyer’s remorse” and 68% of returns having nothing to do with an actual problem with the merchandise.

“In this volatile and fast-moving sector, retailers should establish the right technologies and processes to deal with these big-ticket item returns to improve the customer experience and achieve measurable and sustainable bottom-line benefits,” said Janet Hoffman, managing director of Accenture’s retail practice.

Bookmark it: