Kohl’s stock closed up 12% on Tuesday after the retailer said it would accept Amazon returns at all of its stores.
Cost savings, bricks-and-mortar expansion and a barrier with competitors. These are some of the reasons experts say the partnership between Kohl’s Corp. and Amazon.com Inc. works for the e-commerce giant.
Amazon is already spending billions to get items to customers. Amazon’s shipping costs in 2018 were $27.7 billion, according to the company’s 10-K, up from $21.7 billion the year before. Retail trends are moving toward an omnichannel experience; customers are going online to shop, to research, or take other steps, but they’re still heading to stores, to pick up an item, return it, or see it in person.
For Amazon, easing the return process improves customer service, something that Amazon customers prize via the quick shipping options, said Alice Fournier, e-commerce analyst at Kantar. There are also other benefits. Don’t miss: Amazon’s Whole Foods price cuts aim to build a ‘Costco-like’ relationship with Prime members
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