Here’s a tip gleaned from the recent webinar a on 40 Tips to Improve Margin & Profitability sponsored by the Direct Gardening Association. Presenter George Mollo of GJM Associates pointed out that it’s wise to see how the 80/20 law applies to your returns. Chances are strong that a small number of products account for a huge percentage of your returns. Concentrate on correcting the problems with those few products, and you’re likely to reduce returns significantly.
Finding out the cause of the problems may take nothing more than a conversation with your customer service reps. They’re usually a tremendous source of valuable information, which is all too often overlooked.
