Liam, could you please provide insight into your journey that led you to assume the role of CEO and co-founder of Krepling?
My brother and I started a consignment marketplace for streetwear and fashion brands called The Kingsfare. I always had an interest in sneakers and it sparked the idea to create this business. After a few years, we were approached to sell it and took the opportunity to do so at just 17 years old.
How have alterations in return policies impacted e-commerce platforms like Krepling, particularly in terms of managing proof of damaged items and adhering to return timeframes?
Krepling tries to remain 100% agnostic regarding specific merchant policies, including returns. Each merchant on Krepling...
Liam, could you please provide insight into your journey that led you to assume the role of CEO and co-founder of Krepling?
My brother and I started a consignment marketplace for streetwear and fashion brands called The Kingsfare. I always had an interest in sneakers and it sparked the idea to create this business. After a few years, we were approached to sell it and took the opportunity to do so at just 17 years old.
How have alterations in return policies impacted e-commerce platforms like Krepling, particularly in terms of managing proof of damaged items and adhering to return timeframes?
Krepling tries to remain 100% agnostic regarding specific merchant policies, including returns. Each merchant on Krepling, or other platforms alike, is solely responsible for setting up their own return policies. These policies can vary widely depending on the product type, business model, and merchant preferences. Based on our merchant data, strict or unclear return policies can significantly impact how merchants manage returns, especially for damaged items. We have seen that merchants who balance the need to accommodate legitimate returns while minimizing abuse (e.g., fraudulent claims of damage) tend to see a higher customer return average after checkout. We have also seen that timeframes for returns are a critical part of a great return policy. The data shows that merchants who communicate these timeframes and adhere to them to maintain customer trust and satisfaction tend to see an uptick in repeat customers, sometimes even after that customer has returned an item. However, managing these timeframes can be challenging, especially during high-volume periods like holidays or BfCM. Krepling tried to provide reminders to help merchants stay on track, but again, it’s up to the merchant to implement effective policies.
Learn More About This Interview:- https://www.martechcube.com/martech-interview-with-liam-gerada/
Visit Website:- https://www.martechcube.com/
