As a retailer returns from the customer are quite common, but have we ever used a return as an opportunity to retain or engage a customer? Now with QwikRefundx you as a brand have the power to manage refunds, buybacks and credit notes effectively and in the process woo your customer and engage them.
QwikRefundx allows you to issue refunds in the form of Gift Cards. Gift Cards enable you to have a greater rapport with your customer as a result of enhanced customer stickiness and retention. For the customer not only is there a higher convenience but also increased trust as the refund happens in real time. For the retailer apart from not indulging in a cash outflow, the Gift Card based refund retains the customer and bundles along with it a potential for a sales uplift when the card is redeemed at a later stage.
QwikRefundx – Automate customer refunds and credit notes
Retailers can use gift cards as a mode of refund, to provide real-time refund to customer account. The diagram below explains the QwikRefundx process flow for an end customer.
This solution provides greater convenience for the customer, while the retailer can also prevent the outflow of cash collected from the initial sale. This solution also results in higher customer stickiness, better sales uplift (spends over and above gift card value) and breakage (revenue from unredeemed gift cards) for the retailer.
Other Business Critical Products from QwikGifTSx Portfolio for Retailers
To create and deliver a variety of targeted promotions
QwikBPOSx & QwikServx
To manage corporate & bulk gift card fulfillment
One API to grow reseller and external channel sales
Launch a multi-brand gift card store, either online or offline
To know more on how these products can help your business, reach out to us here