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When a customer buys multiple variations of the same product online so that they could try them all out and return the ones that weren’t a good fit, this is referred to as bracketing. Apparel retailers will see this often.
Customer Lifetime Value (CLV)
Customer lifetime value is a metric that estimates the total monetary value that an average customer will contribute to a company over the customer’s expected lifetime. CLV is conceptualized as the sum of all the transactions, including purchases, returns, shipping costs, etc. for an individual. Check out our Free CLV Calculator here!
Returns optimization involves continuous improvement strategies that use returns data to enhance the experience for the shopper, improve retailer operational efficiency, and grow profits. As an ecommerce retailer, returns are something that you’ll always deal with. Just like all other parts of your business, you want your returns management to get better with time.