Brick and mortar retailers' return rates might differ based on a number of variables, including the kinds of goods they offer, their return guidelines, and the demographics of their clientele.
What is return rate for brick-and-mortar stores?
For physical retailers, the percentage of goods or items that customers return for a refund or exchange is known as the "return rate." Retailers must monitor this indicator because it offers valuable information about consumer satisfaction, product quality, and overall store performance.
here are some broad approximations:
Average: The average return rate for physical stores is approximately 8.89%. Comparing this to the regular online retailer return rate of 25–40%, it is noticeably lower.
Range: It's crucial to remember that the real return rate for any given retailer may be anything from 5% to 10%. This range can be influenced by variables such as grocery stores (lower) and apparel stores (higher).
Overall, a sizable volume of items is returned annually even though brick and mortar establishments typically have lower return rates than internet retailers. Retailers can enhance their bottom line by reducing returns by developing strategies based on an understanding of the elements that contribute to returns.