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View profile for Mary Grace Scully, graphic

Head of Marketing @ Locker

Revolve recently updated their return policy, which had my TikTok FYP buzzing with consumer conversation. Let's break down why shoppers care and how this will drastically change consumer behavior (for the better!!): Why now: First reported by pop culture reporter Samantha Cohen (see TT stitch below), Revolve recently changed their return policy from 60 to 30 days, to break a bad habit of customers repeatedly buying and returning large volumes of products. For context: A big part of Revolve's e-commerce dominance has been due in part to their fast 2-day shipping and lenient return policy, coupled with large Revolve hauls being shared on social media, and then a large portion of said hauls getting returned, for a variety of reasons. While these flexible shipping & return policies were great tactics for raising positive brand affinity, it became time for the brand to crack down 🔽 In a recent earnings call, their CFO reported their return rate was a shocking 60% - twice as high as the industry e-commerce return average ‼ Here's where things turn positive - at Locker, we pride ourselves on helping shoppers make smarter purchases. Across categories and retailers, we see significantly lower return rates than the industry average. In fact, we even wrote about it on Earth Day in 2023, lol: https://lnkd.in/gqKEeYBC So we decided to test out if this still reigns true, even for Revolve (Locker's most shopped brand partner, 400K+ products saved and counting!). We calculated the return rate monthly over the past 2 years. Sure enough, Locker shoppers' Revolve return rate was on average, just 25%.... How?! It's simple enough but, shoppers who "save" products before clicking "buy" are able to have a moment to reflect on their decision and think within context of all of their online purchases, and therefore with confidence. It's contradictory to modern consumer behavior, but we actually encourage adding a step to the consumer journey between discovering and purchasing... ...Instead of building product features (like one-click-checkout) that remove steps from the consumer journey and pressure purchases, we provide a pause. And the result of giving consumers a platform to discover, save, think, and ultimately convert on their own has been astounding for our brand partners. Check out more on our TikTok here: https://lnkd.in/gxuybGnj

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Lauren Butler Macey

Empowering Startups and Small Businesses Through Tailored Financial Consulting | Previously: Goldman Sachs, Piper Sandler, USC

3mo

Although anecdotal, I've noticed this with my own shopping behavior. Love that your team is creating a fun and easy way to make smarter purchasing decisions!

talk about a "return" on investment ;)

Olivia Luko

Sales | Influencer Marketing | Brand Development | Ecommerce

3mo

Love this and couldn't agree more - thanks for sharing!

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