Wal-Mart is launching a new function on its popular shopping app that will enable customers to initiate the returns process digitally, dramatically reducing the amount of time it takes to process a refund, according to a report published by Bloomberg.
Wal-Mart figures suggest that the returns rate on online purchases is as high as 30 percent, versus 8 percent for those bought in store. With the new function, customers will be able to get instant credit for some items, before they have been returned to the retailer. For others, using the App to initiate the process will enable them to complete the refund process via a dedicated express lane in store, shaving four-and-a-half-minutes off the average returns time.
“We recognize that saving time is the new currency for customers, as much as saving money,” Daniel Eckert, Senior Vice President of Services and Digital Acceleration told Bloomberg.