TryNow finds Happy Returns to be the perfect fit for its Try Now Buy Later eCommerce business
Challenge
eCommerce creates significant sales friction because online shoppers can’t touch or try on items. Innovative Try Now Buy Later programs overcome shopper uncertainty, but naturally generate returns that need to be handled with minimal effort.
Solution
TryNow’s Try Now Buy Later software platform can be used by any eCommerce brand. Happy Returns has partnered with TryNow to streamline and lower the cost of returns.
Impact
Higher sales conversion rates
AOV increased by as much as 50% or more
Reduced return costs and shipping expenses
Faster refunds for greater customer satisfaction
TryNow provides a Try Now Buy Later software platform for eCommerce brands. The company helps brands with great products find people who love them by eliminating shopper uncertainty from the online shopping experience.
The Challenge
How do we find things we love? We try them out. Whether it’s your new favorite restaurant or the perfect top, nothing beats a first-hand experience. And that’s a problem with eCommerce. When a consumer shops online for clothes, shoes or a new frying pan, they are unable to see items in person—to touch or try something on, which creates considerable sales friction. The result: online conversion rates can be as low as 3%, compared to 50% for in-store experiences.
To remove this friction, brands can offer a Try Now Buy Later program where shoppers try items at home—for free—and only pay for what they keep. This means more shoppers check out with larger carts, driving growth for the top and bottom line for brands. However, it also significantly increases the volume of returns and exchanges a brand must process, so cost management and efficiency become a primary focus.
“Online shopping forces consumers to pay for things they’ve never had a chance to feel or try on,” says Ryan Abramson, vice president of brand strategy and sales, TryNow. “That’s why conversion rates are so low.”
“Online shopping forces consumers to pay for things they’ve never had a chance to feel or try on. That’s why conversion rates are so low.”
— Ryan Abramson, Vice President of Brand Strategy and Sales, TryNow
The Opportunity
TryNow has flipped the traditional eCommerce model. Direct-to-consumer brands can let shoppers experience more sizes and styles at home—where they’re most comfortable. What was previously a friction-filled process is now a delightful experience.
This enables brands to convert more shoppers and substantially increase their average order value (AOV) and gross profit.
“Brands such as Stitch Fix, Amazon Prime Wardrobe and Warby Parker pioneered the eCommerce Try Now Buy Later model,” Abramson notes. “TryNow provides the infrastructure for any brand to offer this experience as well.”
The Solution
While TryNow’s unique business model unlocks transformational growth for brands with great products, it requires equally innovative solutions for managing the increase in returns. To accomplish this, TryNow has partnered with Happy Returns.
Happy Returns reduces return costs by letting shoppers start the process online and generate a QR code to drop returns off box free at nearly 10,000 locations around the country. By eliminating the hassles and waits of returns—the need to print labels, secure a box or wrestle with packing tape, and then wait weeks to receive refunds—Happy Returns’ box-free solution builds confidence in trying products, and increases customer lifetime value. Returns are aggregated for shipping in reusable shipping containers, reducing shipping costs for retailers and eliminating cardboard from the equation.
TryNow chose Happy Returns because of its innovative shopper experience that saves retailers money. In addition to box-free drop-off, Happy Returns offers advanced customization, which allows brands to create custom rules or tags for how different returns are handled—such as free returns for VIPs or limited exchanges on sale or clearance items. Other key features include superior analytics and reporting, broad international support and rate-shopping return labels, which ensure shipping via the least-expensive carrier option available.
The Impact
Higher conversion and AOV
By eliminating the friction of buying before trying and returns issues, TryNow and Happy Returns help brands achieve a higher conversion rate, AOV and profitable, scalable growth. For example, ROOLEE has increased its AOV by 55%, delivering more than $3 million in incremental sales annually.
Reduced costs
A substantially higher percentage of in-person returns and aggregated shipping back to distribution centers results in significantly lower costs for brands—enhancing TryNow’s appeal. Happy Returns’ proven solution also allowed TryNow to avoid investing in developing their own solution for returns and exchanges.
Better shopper experience
With Happy Returns, shoppers receive refunds at the moment a package is scanned by the carrier or in person at a Return Bar location. The simplicity and convenience of the entire process results in higher NPS scores, greater loyalty, larger orders and more repeat business.
“Returns are the natural end of an eCommerce transaction. TryNow enables brands to achieve rapid growth while Happy Returns makes the return process effortless.”
— Chad Meyerson, Chief Digital Officer, ROOLEE
Looking ahead
TryNow continues to focus on building and enhancing their platform, adding new features and capabilities. Happy Returns is a valued part of the ongoing equation.
“We’re excited to help brands drive step-change growth, and Happy Returns is a key component of the conversation,” concludes Abramson.