The next must-have tool for ecommerce brands

Every now and then I hear about a new solution for ecommerce and I instantly know it is going to become a best practice. It is a case of when and with which provider brands will go...the race is on.

The next solution category?

Instant Refunds.

What if instead of having to wait 5-10 days for a brand to receive my return, process it and issue me with a refund I could get my money back straight away?

How would that change the way I purchase? Would I buy more because I worry less about my money being tied up?

And when I get my money back really fast, how would that feel? I might feel like I trust them more - a positive return experience. Perhaps I will buy from them again?

As you look towards peak season and start to shut down your tech roadmap, adding Instant Returns might be worth considering.

For the brand, you're also gaining cash flow because the Instant Refund is fronted by the provider.

I know of plenty of brands that limit the total refunds per day - there is nothing worse than a big backlog of refunds sending revenue in Shopify negative on any given day. Or customer services getting a tonne of negative reviews because you were limiting refunds to preserve cash flow, it just creates a negative feeling about the business.