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How does Returnly work?

Published in E-commerce Returns Platform 2 mins read

Returnly is a post-purchase payments platform that simplifies the returns process for online shoppers by allowing them to get store credit instantly and buy new items before they've even shipped the original return back.

Simplifying Online Returns

Traditionally, returning an item purchased online involves several steps: initiating a return, printing a label, shipping the item back, and then waiting for the retailer to receive, inspect, and process the return before issuing a refund or store credit. This waiting period can be frustrating for shoppers, especially if they want to exchange the item or buy something else quickly.

The Returnly Difference: Instant Return Credit

Returnly addresses this challenge by providing an immediate solution for shoppers. As highlighted by the reference, Returnly's post-purchase payments platform lets consumers buy again using their return credit before shipping the original items back.

Here's a breakdown of how this works:

  • Initiate Return: A customer initiates a return through the retailer's Returnly-powered portal.
  • Instant Credit: Instead of waiting for the item to arrive back at the warehouse, Returnly instantly provides the customer with store credit equivalent to the value of their return. This is the core innovation.
  • Shop Immediately: The customer can use this instant credit to place a new order right away for an exchange or a different item.
  • Ship Original Item: After placing the new order, the customer then sends back the original item using the provided shipping label.
  • Risk Management: Returnly assumes the risk if a customer uses the credit but fails to return the original item. This allows retailers to offer this "buy now, return later" experience without taking on the immediate financial risk.

Benefits of Using Returnly

Benefit for Shoppers Benefit for Retailers
Get credit and shop instantly Drives loyalty and incremental sales
Frictionless return experience Reduces customer service inquiries related to returns
Quick and easy exchanges Potentially increases Average Order Value (AOV)

By enabling shoppers to immediately use their return value to make a new purchase, Returnly transforms a potential point of frustration into an opportunity for repeat business and increased customer satisfaction. This streamlined process encourages customers to stay loyal and make additional purchases.