What is order return rate in SAP SRD-CRM - CRM-Customer Relationship Management?

SAP Term: order return rate

• Component: SRD-CRM

• Component Name: CRM-Customer Relationship Management

• Description: The number of returns divided by the number of orders expressed as a percentage.

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• Key Concepts: 
  Order return rate is a metric used to measure the number of orders that are returned by customers in relation to the total number of orders placed. It is an important indicator of customer satisfaction and loyalty, as it reflects how well a company is meeting customer expectations. 
  
  How to use it: 
  Order return rate can be used to measure the effectiveness of customer service, product quality, and marketing campaigns. It can also be used to identify areas where improvements can be made in order to increase customer satisfaction and loyalty. 
  
  Tips & Tricks: 
  When calculating order return rate, it is important to consider the time frame in which the orders were placed and returned. This will help to ensure that the data is accurate and up-to-date. Additionally, it is important to compare order return rate with other metrics such as customer satisfaction scores and customer retention rates in order to get a more comprehensive view of customer loyalty. 
  
  Related Information: 
  Order return rate is closely related to other metrics such as customer satisfaction scores, customer retention rates, and customer lifetime value. Additionally, it can be used in conjunction with other metrics such as average order value and average order size in order to gain a better understanding of customer behavior.