ReturnGO is proud to present the return analytics dashboard. The return analytics dashboard gives a visual representation of your product return data and displays it in an easy-to-understand form.
With the return analytics dashboard, you can gain valuable insights into return patterns and customer behavior, helping you make better decisions about pricing, products, the customer experience, and more.
Having this data at your fingertips helps you take your eCommerce business to the next level.
What is the Return Analytics Dashboard?
The ReturnGO return analytics dashboard provides you with a transparent overview of how your products, customers, and return process looks and works using real-time return analytics.
An analytics dashboard is a data visualization tool that consolidates key performance indicators (KPIs) and metrics into an easy-to-read display.
Easily track your return data on your return analytics dashboard so that you can make informed decisions and improve your returns process.
Why Tracking Return Data is Important
It’s important to track return data so that you can optimize your return policy and return process to suit the needs of both your business and your customers.
Make strategic decisions to reduce your return rate based on your understanding of your return reasons.
Tracking and analyzing your product return data can help you identify any potential issues with your products or fulfillment process, ensuring that you are able to resolve them quickly and efficiently.
Return data is one of the most important types of information that an eCommerce store can track. By understanding what products are being returned and why you can make informed decisions that can improve your bottom line.
Monitor your return data to identify patterns and trends that can help predict future returns and optimize your eCommerce returns process.
How to Access Your Return Analytics
All your return data is displayed in a clear, easy-to-understand way on your ReturnGO return analytics dashboard, using pie charts, graphs, and numbers to highlight your return data.
A user-friendly layout with tabs to filter general return data, product return data, customer return data, and revenue data helps you easily track your return analytics.
Tracking your return data is easy thanks to a user-friendly layout and tabs to filter general return data, product return data, customer return data, and revenue data.
What Metrics Are Shown in the Analytics Dashboard?
Your return analytics dashboard is a powerful tool that can provide a lot of information about your store’s performance. Tracking key metrics can help you gain insights into your return data and identify areas for improvement.
Some of the most important metrics you can track include:
1. Return Rate
One of the most important metrics your analytics dashboard tracks is your return rate. Return rate means the ratio of orders to returns.
See how many returns were approved within the defined time frame, compare that with the number of orders made within the same time frame, and track your average return rate.
Identify days or seasons when returns tend to increase or decrease, and analyze what may cause these spikes. Understanding when returns are likely to occur helps you prepare for them and reduce their impact.
The average eCommerce return rate hovers around 20-30%. By keeping a close eye on your return rate you can ensure that your returns are running smoothly.
2. Product Return Rate
Monitoring your product return rate can help you identify products that are frequently returned and how they compare to the rest of your products. Your product return rate is the ratio of products you sold to products that are returned.
By identifying products that have a particularly high or low return rate, you can take steps to improve them.
For example, if you have a product with a high return rate, you may want to consider making changes to the product, improving its quality, or refining the product page information.
On the other hand, if you have a successful product with a low return rate, you may want to consider increasing promotions to encourage even more sales.
Analyzing your product return rate distribution helps you keep tabs on the quality of your products and make changes as necessary to improve them and reduce your return rate.
3. Return Reasons
View a clear visual representation of all the return reasons you have defined as options in a simple pie chart display.
Easily compare the rates of different return reasons, gaining valuable insight into your return process.
Customers may return an item for a number of reasons, such as sizing issues or damaged products. The analytics dashboard helps you track these reasons so that you can take steps to avoid them and reduce your return rate.
On your return analytics dashboard, you can also see a breakdown of return reasons by product, so you can identify which return reasons are most common for specific products. This helps you identify patterns and take action to improve your products or product descriptions when necessary.
In the return analytics dashboard you can see a clear visual representation of all the return resolutions you have defined as options, such as exchange, refund, store credit, and gift card.
The easy-to-understand display makes it simple to see how the rates of the various return resolutions compare, giving you insights into which options are most popular with your customers.
Track your return resolutions to identify changes to be made to your products, shipping process, or return policy in order to optimize your business’ efficiency.
Adjusting your return policy can lead to a visible change in the most frequently selected return resolutions.
5. Customer Behavior
In order to better understand your return analytics, it’s important to understand the bigger picture. Your returns analytics dashboard provides you with additional information about customers’ purchase and return patterns to help you better understand how returns relate to sales.
It’s important to know how much of your revenue comes from new versus repeat customers. New customers are important for growth, while repeat customers are key to maintaining a successful business.
By understanding the trends in how your customers shop, you can see how that is reflected in their return patterns.
Look at information such as:
- Proportion of revenue and returns generated by new customers versus repeat customers.
- Average number of products ordered and returned by customers.
- Frequency of customers placing orders.
Your customers are not all alike, and it wouldn’t make sense to treat them as such. Purchase and returns data can be combined to segment customers and pinpoint specific patterns for each group.
Download Return Data Reports
The analytics dashboard gives you the option of downloading reports of various return analytics.
Downloading return data reports will give you a more complete picture of how your business is performing and where there may be room for improvement.
With this information at your fingertips, you’ll be able to make more informed business decisions.
Use Return Analytics to Grow Your eCommerce Store
In summary, the return analytics dashboard provides a consistent, simplified view of your return data, enabling you to dive deeper into your data and figure out which products are being returned the most, why products are being returned, and what you can do to reduce your return rate.
Take your store to the next level by tracking your returns on the ReturnGO return analytics dashboard.