Online There is good news for buyers. If you order an item on an e-commerce platform and you don’t like it, you can return or exchange it within 10 minutes. E-commerce companies have started preparations in this direction to improve their services. Nowadays, people have to wait 7 days to return or exchange the product if they don’t like it or there is any defect in the product. We tell you that last week Blinkit started the facility to return and exchange clothing and footwear in 10 minutes in selected cities in the country. Experts say this move can help Q-Commerce companies increase their market share.
Financial burden may increase for companies
However, experts say that starting the initiative to return or exchange goods within 10 minutes can increase the financial burden on e-commerce companies. Returns and exchanges have long been a problem for e-commerce companies due to the high cost of reverse logistics. In such a situation, a 10-minute return may further increase the load. Fashion and accessories obtain between 20% and 30% profitability and electronics between 3% and 15%.
Logistics costs will increase and storage will also be difficult.
While 10-minute returns will increase logistics costs for e-commerce companies, storage will also be difficult as dark stores have limited space. Experts believe that for now, it is best to continue with scheduled returns of 1 hour to a few days, as this will give startups control over the process while maintaining a positive customer experience. Making frequent returns can impact margins, but innovations like offering flexible return times or charging return fees for certain categories can help balance the cost. With the right strategies, instant trading can provide convenience while managing the complexities of high-performing categories. Platforms like Myntra currently charge a flat fee of Rs 199 to Rs 299 per order to customers who earn high returns and once they exhaust a certain number of free returns, they are charged Rs 15 to Rs 30 per return.
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