Tuesday, February 25, 2014

The Retail Equation and its Return Rewards program - when a return becomes a sale

I've found that my three posts on The Retail Equation are among the most popular posts on the Empoprise-BI business blog. If The Retail Equation ever provided services for KitchenAid, I auspect that my blog views would eclipse those of Arianna's little website.

It turns out that the big data generated by The Retail Equation's clients' servers isn't just used to prevent fraud. It can also be used for positive things, such as generating sales from the return exchange:

Once considered a cost of doing business, many retailers today are rethinking the return counter to make the shopping experience better for customers, which can have big benefits to the bottom line....[R]etailers can drive incremental sales through our product called Return Rewards®, which uses information about a consumer’s return transaction to instantly customize an offer for that particular person at the point of return. This provides an immediate incentive for the consumer to continue shopping at the store and for a specific product.

Additional information on Return Rewards can be found here.
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