Reshop is making returns easier, especially for Gen Z and Millennial shoppers. Returns cost retailers a lot, to the point they’re trying to deter consumers from making them with downsides like fees. But it’s inconvenient for shoppers, too—especially Gen Z and Millennials who may get slower returns by primarily using their debit cards for online shopping. Enter Reshop, a new platform by Afterpay co-founder Anthony Eisen, that’s tackling the problem with instant refunds. The idea is simple: faster refunds mean more chances for shoppers to buy again—either from the same brand or another one in a Reshop network, by having the money refunded to a virtual Reshop debit card. With younger shoppers focusing on managing their spending without credit, the platform is addressing return policies as a top factor in where they shop in the first place. (PYMNTS)
📊 YPulse data: 69% of 13-39-year-olds agree, “I wouldn’t buy from a brand that had a bad return policy”
