Returns and refunds
Imagine finding the perfect winter coat after searching forever online, purchasing it, and having it delivered, only for it to be two sizes too small. It’s quite frustrating, but you expect to solve everything by just returning the coat to the online store and exchanging it or getting a refund. You are just like 62% of consumers who, according to the ReBOUND Returns Consumer Survey, expect online stores to offer return options and deliver them within 30 days after the sale. Moreover, according to Acquire Convert data, 89% of customers who have a positive return experience would buy from the same online store again. This is of interest if you deal with business and customer growth, because it proves why it is important for online stores to offer return options.
Along with returns, companies need to provide refund options to their customers. This is mainly for cases whereas a customer wants to return a product but does not want to exchange it for something else. With a powerful eCommerce Solution like the one we will showcase in this article, offering returns and refunds is a simple matter of configuration. By just enabling the feature in your eCommerce platform, you can give your customers great purchase and return experiences.
Enabling returns and refunds
Sometimes, eCommerce platforms come with features that can only be used once you manually configure them. This is the case with returns and refunds. In order to process them, you need to configure permissions and rules that will define how refunds and returns work in your business. In Digitrade’s Magento Solution specifically, returns and refunds are processed in Order Management Service (OMS) and need configuration in order to work. The process involves:
- Enabling rules:
Firstly, you need to locate the System Integrator (SI) Portal on Digitrade’s Magento platform, then select Sales Channel. Follow up this step with clicking on Post-sales, and then Refund Return Rules. Now you can manage refunds and returns in your OMS.
- Defining permissions:
The second action you should take is to enable the relevant permissions for each platform user within your business. You do this by:
- Navigating the System option and selecting Roles
- Clicking on the roles that apply to your platform users
- Selecting the Refund Management options in the Customer Service section
A request for returns triggers a whole list of actions that need to be set in motion, especially with online purchases. However, for customers to be able to return products, you need to enable the function on your eCommerce platform. This is done on Digitrade’s Magento Solution by:
- Going to Admin sidebar, selecting Stores, followed by Settings and Configuration
- Expanding Sales, selecting Invoices, and opening RMA Settings.
- Setting Enable RMA on Storefront option to Yes.
- Selecting Yes for the Enable RMA on Product Level
- Setting the address where returns will be taken, then select Save.
Once a customer returns a product, the business needs to issue a refund. How you handle them, thus, depends on the type of payment integrations you have set and the refund management tool you use. On Digitrade’s Magento Solution, the Order Management System (OMS) assists you with managing refunds effectively and securely.
In order to start the process of refunding a customer, you need to create a Credit Memo. This is a document defining the amount of money you will return to the client. On Digitrade’s Magento Solution, you can easily create a memo with the following steps:
- Locate the Admin Panel and go to Sales, where you will find Orders. Select it and choose your order of interest from the list.
- Go to the Invoices section of your chosen order, select the corresponding invoice, then click the Credit Memo option.
- Fill in Items to Refund and Order Total.
- For the Items option, set it to Returned to Stock (if applicable) and set the Quantity. Follow this by selecting Update Qty.
- Complete the Refund Shipping, Fee, and Adjustment Refund sections, then complete the transaction by clicking Refund.
The above steps ensure your business experiences no issues when creating Online Credit Memos. Online Credit Memos are used specifically for refunds involving payment methods that support a business’s IP bank communication. Offline Credit Memos for cash purchases can also be set, with the help of Solution experts, like Digitrade.
They offer powerful online solutions and capabilities that help you effectively manage your returns, refunds, online sales, and more. Contact Digitrade for professional skills and advise on all your eCommerce activities. Click here for more.