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How to capitalize during the days of returns

How to capitalize during the days of returns

Retailers likely saw an influx of customers in the days following Thanksgiving, and they can count on higher numbers of shoppers throughout the duration of the holiday season. However, after the 25th of December, there will be yet another surge of customers in your store, though many of them will be there for a different reason – to make returns. It's a simple fact of the holiday – some people will receive presents with which they are less than thrilled, but you can take advantage of the droves of shoppers showing up to return items.

Cash or store credit?
When shoppers show up to return items, you have two options on how to refund them: cash or store credit. Giving back cash will likely make customers more pleased, and it's always good to foster positivity among your client base. But offering store credit guarantees that you won't lose money in the long run.

Fortunately, there is a happy medium between these two choices. You can offer customers a choice between cash or store credit, but do your best to make the latter option more desirable. For instance, you may want to offer discounts to those who opt to receive store credit. You can also encourage your employees to ask why someone was dissatisfied with their gift, and advise them to point customers in the direction of a different product that may suit their tastes.

Traffic is traffic
It may be upsetting that the reason you are seeing more shoppers in your store after the holidays is because they want to return items, but remember – traffic is traffic. Even though the line at your returns counter may be long, you can still take advantage of the fact that shoppers are in your store. That means it's wise to revamp your floor to draw the attention of customers there to make returns. Reorganize your store racks and display tables, and dress your hair mannequins in trendy winter outfits.

You can also make sales by marketing to individuals who are looking to purchase belated holiday gifts. It's a good idea to leave your gift wrapping station up for this very reason, and you may want to continue some of your holiday discounts even after Christmas has come and gone.