Once you install Benchmarks by Loop, it will automatically aggregate and display key data from your returns on Shopify in an easy-to-use dashboard. 

Our free Shopify app is available to all Shopify merchants and makes reviewing, analyzing, and comparing your key return data simple.

Benchmarks by Loop automatically populates data from your returns on Shopify into five categories:

• Refund rate
• Product performance
• Return rate
• Customer behavior
• Return fees

In a nutshell, the app empowers Shopify merchants to unlock key return data and automatically compare it against similar brands. 

By centralizing this data in one simple, easy-to-digest view, Shopify merchants can uncover how their brand stacks up in key areas related to return performance, such as refund rate, new vs. repeat purchase ratios, and average time to repeat purchase. 

Learn more about our free Shopify app, Benchmarks by Loop, here.

What insights are available with Benchmarks by Loop?

The Benchmarks by Loop Shopify app provides you with actionable insights on a variety of factors regarding your returns on Shopify.

Some of the insights you can expect to find within the Benchmarks by Loop Shopify app include: 

• Refund rate: the percentage of refunded dollars out of your total revenue

• Product performance: a closer look at how your top most refunded products and top least refunded products are performing as compared to similar products across your industry

• Return rate: the percentage of returns out of total order volume. You can opt into learning more about your store’s refund rate by providing your annual return volume at sign-up

• Customer behavior: a breakdown of valuable customer behavior data such as percentage of purchases from repeat customers, average time to repeat purchase across all customers, and average time to repeat purchase across customers after they had a refund event

• Return fees: the percentage of returns (based on Loop’s internal data) that included a return fee for similar brands to the merchant who installed the app, and how often fees are typically applied across different return outcomes, such as refund, exchange, or store credit

Why do you need Benchmarks by Loop?

Returns on Shopify are notoriously difficult to manage, especially for Shopify merchants who may not already use a return management platform like Loop. And it’s even more challenging to uncover performance data about your returns on Shopify—let alone compare it against similar brands.

Benchmarks by Loop solves these problems by automatically aggregating and displaying key data from your returns on Shopify in one easy-to-use dashboard.

Newer or smaller Shopify merchants may not know the profitability that can come from improving their return processes. And without knowing how you stack up against similar brands, you’d be doing guesswork at best. 

And in today’s competitive ecommerce marketplace, Shopify merchants must find ways to optimize their return processes to improve their profitability while saving time and money. 

With Benchmarks by Loop, you will unlock key data from your returns on Shopify and gain unique insights into your return performance.

Who can use Benchmarks by Loop?

Any merchant on Shopify can install the Benchmarks by Loop app, free of charge. The Shopify app is best suited for small-medium sized Shopify merchants, but it can provide valuable insights for larger businesses as well. 

What data does Benchmarks by Loop use?

Loop partners with more than 1800 brands on Shopify to optimize their returns, which means we have a unique data set that can help growing businesses understand their performance. 

For merchants who install Benchmarks by Loop, their return performance will be compared to brands of a similar size, vertical, and industry to understand how they stack up. Likewise, we protect your data too, and we’ll never share your store-specific data with anyone other than you. 

Still not sure if you need Benchmarks by Loop? Learn more about the app here.