Retino addresses the growing problem of complaints and returns in eCommerce and offers an easy-to-integrate solution for any type of e-shop. It has transformed manual and time-consuming complaint processes with high risk of error into an automated process that can save up to 60% of the time and costs associated with complaints and returns. Retino brings communication and customer service together in a single interface, making the complaint process user-friendly both for e-shops and for customers, increasing the likelihood of repeat purchases.
RETINO AT INVESTORS EVENING IN PRAGUE 27. 3. 2019 - register
Please login or register to access more information about this investment opportunity
Retino offers e-shops an easy-to-integrate solution for complaints and returns management. It takes care of communication, goods identification, and monitoring throughout the entire complaint process and automates the associated services. Retino saves up to 60% of administrative time, significantly reducing costs and increasing customer satisfaction and therefore also the likelihood of repeat purchase.
The complaint process today: an opaque and frustrating process
In the vast majority of cases, complaints and returns are a manual process both for e-shops and for customers. E-shops do not have a single interface to handle complaints, and the entire process is generally resolved via phone calls, e-mails, and Excel and Word documents. A customer packs the unwanted or faulty goods, sends them to the e-shop, and waits. After receiving the package, the e-shop worker must find out what the customer wants to return, find his order in the system, correctly identify the goods (which can be difficult and take a long time when, for instance, a customer wishes to return one of three different pairs of jeans), fill in a paper complaint form and enter a record in the system.
The complaint process with Retino: saved time, reduced costs, and satisfied customers
After integration in an e-shop, the Retino system receives all relevant order information. When a customer returns a purchase, Retino handles the entire process, including logistics. A customer enters his order number on the e-shop website in the “returns” section, selects the unwanted or faulty goods he wishes to return, fills in a complaint form, prints out a transport label and selects a method of transportation. The entire process transpires within just a few minutes and clicks. The Retino system immediately alerts the seller about the complaint, and after receiving the returned goods, the seller simply scans the return label and obtains all necessary information. The goods are reviewed and the complaint is processed online, and both parties have access to up-to-date status information. Thanks to this simplified process, e-shops can save up to 60% of administrative time, leading to a significant reduction in operating costs.
Customer satisfaction leads to repeat purchases
Based on Acomware's 2018 study, almost two-thirds of Czechs have had an experience with filing complaints or returning goods purchased online. If an e-shop refunds them immediately, up to 70% of customers buy goods in that store again. In an e-shop refunds them in three weeks, only 9% purchase goods again. In about four out of ten complaints, customers report reservations about the e-shop's approach, and if they encounter a problem during the complaint process, half of them choose a different e-shop the next time. Due to a quicker process, error minimization, and online complaint tracking, Retino e-shops achieve a 95% satisfaction rate (the market average is 50%), which increases the likelihood of repeat purchases.
A scalable distribution model enables cooperation with giants
Retino can be integrated with any online store. Today it is offered as a plug-and-play module to the largest provider of tech e-shop solutions in the Czech Republic, Shoptet.cz, which runs almost 15,000 e-shops in the Czech Republic and boasts a total daily turnover of CZK 62 million (EUR 2.4 million). In the first 20 minutes after integration with Shoptet.com, Retino received more than 100 new registrations. Magento, WooCommerce, Shopify, and BigCommerce represent additional opportunities to reach the international clientele visiting hundreds of thousands of additional e-shops daily.
An experienced team
Before launchine Retino, founder and CEO Petr Boroš set up his first company, Higard. After two years of operations, Petr and his partner sold the e-shop in 2017, and Higarden.cz has been working successfully ever since. Petr gained his knowledge of technology and also marketing, sales, and business at prestigious universities both in the Czech Republic and abroad.
A market that grows each year
Business updates since Retino's launch in Q3 2018
Retino in media