Day 1: Returns Prevention & Cost Reduction in the Age of E-Commerce
Monday, October 21
7:20 am - 8:20 am Continental Breakfast & Registration
8:20 am - 8:30 am Welcome Remarks & Ice Breaker
8:30 am - 8:40 am Chairperson’s Opening Address
8:40 am - 9:05 am Keynote: Product Returns – Moving from Necessary Evil to Desired Outcome
According to the National Retail Federation 2018 Organized Retail Crime Survey, the amount of merchandise returned as a percent of total sales accounts for more than $369 billion in lost sales (median 10%) and, unsurprisingly, every retailer and manufacturer strives to recover their losses, as complicated as this task may be. But what precisely are “reasonable” expectations for returns in the current environment? Are your reverse logistics processes and methodologies adaptive enough?
This keynote illustrates:
- Offering returns as an option to sweeten deals and improve customer relationships
- Using returned products to open up opportunities in other markets and/or with non-customers
- Leveraging Sustainability as a sales tool to drive greater customer goodwill
- Exploring subscription-based models around service, and driving value optimization
9:05 am - 9:45 am Panel Interactive: Reducing the Costs of Returns
Moderator:
Paul Baum CEO & Founder PlanITROI
Speakers:
Nate Omann Director, Reverse Supply Chain Best Buy
Sharon Su Director of Product Management, Reverse Logistics and Backroom Operations Sam’s Club
Jake Velikonia Director of Operations Build.com
Steve Lewis Vice President of Solutions and Strategy XPO Logistics
Paul Baum CEO & Founder PlanITROI
Speakers:
Nate Omann Director, Reverse Supply Chain Best Buy
Sharon Su Director of Product Management, Reverse Logistics and Backroom Operations Sam’s Club
Jake Velikonia Director of Operations Build.com
Steve Lewis Vice President of Solutions and Strategy XPO Logistics
With cost reduction being the top task on everyone’s to-do list, is it fair to say that you have fallen victim to manually-driven and ineffective return management processes? Are challenges such as the lack of visibility, poor forecasting and inaccurate accruals-claims recouping causing you a daily headache? If so, join our expert panellists to hear about the key steps to:
-Avoiding hidden costs of reverse logistics
-Achieving better performance and ROI on returned inventory through industry partnerships
-Minimizing labor and return shipping costs through automation and comprehensive solutions
Sharon Su
Director of Product Management, Reverse Logistics and Backroom OperationsSam’s Club
9:45 am - 10:00 am Panel Interactive Working Groups
Benchmark returns cost reduction best practices and pressing challenges in response to a question/challenge posed by the panel moderator.
10:00 am - 11:00 am Morning Refreshment and Networking Break
10:00 am - 10:40 am Networking Meetup: Retailers Only Networking Meetup
Small Group Networking:
Discuss collaborative partnership challenges and opportunities with 15-20 retail practitioners in response to a challenge posed by the meetup host.
This session is limited to retailers only.
**By invite only, advance sign-up required**
11:00 am - 11:40 am Panel: Revenue Enhancement and Cost Avoidance in Your Returns Management and Liquidation Business
According to IHL Group reports, retailers and consumer brands lose an astonishing $1.75 trillion annually from out-of-stock, overstock, and returned goods. How much are surplus goods costing your business? Join our expert panelists for practical recommendations that would help you achieve your strategic goals. Key takeaways include:
-Retaining initial online sale dollars through education and the returns experience
-Freeing up resources to focus on growth through partnerships with third parties
-Increasing inventory recovery by utilizing a multi-channel approach
-Ensuring that your returns reach their final destination quickly and efficiently
Sponsored by: Liquidity Services
11:40 am - 12:00 pm Keynote: The Anatomy of an Unboxing Experience and Returns Prevention
The importance of an unboxing experience can never be underestimated. If your customer has unrealistic product expectations or, for any reason, simply doesn’t understand how to properly use it, the likelihood of a return quadruples. On top of that, customer dissatisfaction and complaints are the extra layers of complexity that your team might have to deal with and, if not handled properly, might hurt your brand image. Familiar situation, isn’t it? If so, are you looking for ways to upgrade your customers’ unboxing experience, lower the volume of returns and minimize your reverse logistics costs?
Nathan Henderson can help you take the complexity of the out-of-box experience out of the equation! Join his keynote to hear how a mobile app and 3D interactive instructions can enable your customer to ‘get things right’ the moment they unpack the product, avoid the headache of complex product assembly and maintenance, as well as register the item with the manufacturer to keep warranty information accessible at the push of a button.
Sponsored by: BILT
12:00 pm - 12:40 pm Panel Interactive: Delivering An Out-Of-Box Experience That Goes Beyond The Product
Customer is King – this age-old mantra is at the heart of most business strategies and decisions. Forward-looking retailers and manufacturers heavily invest in the creation of improved out-of-box experiences for their consumers, as they understand that the combination of provided information, product tutorials and comprehensive instructions is the driving force behind educated purchasing decisions, customer satisfaction, and returns prevention. This panel discussion delves into:
•The power of try-before-you-buy programs and post-sale customer education
•Leveraging social media and content/email marketing to educate your consumer
•Linking your customer unboxing experience to the overall brand experience
•Importance of improving the ease of interaction between your company and the customer
12:40 pm - 1:00 pm Panel Interactive Working Groups
Discuss pressing customer experience challenges in response to a question/challenge posed by the panel moderator.
1:00 pm - 2:00 pm Lunch for All Attendees
1:00 pm - 2:00 pm Private Lunch Workshop
Sponsored by: Optoro
Track A: Omnichannel Retail & Returns
2:00 pm - 2:05 pm Track A WelcomeTrack A: Omnichannel Retail & Returns
2:05 pm - 2:25 pm Case Study: Preventive Focus on Reducing Consumer Returns – A Retailer’s PerspectiveReturns are an inevitable reality for retailers and manufacturers alike; however there are a number of better-safe-than-sorry steps that one can take in order to secure consumer’s satisfaction with the product and drive returns rates down. The industry is buzzing about various programs and strategies aimed at returns prevention, and the benefits of those initiatives are clear as day: it is THE stepping stone to revenue generation, cost savings and customer loyalty.
Join this session to hear about True Value’s commitment to ensuring product quality and consumer satisfaction through consistent customer-manufacturer-retailer engagement and collaboration, as well as the wholesaler’s holistic approach to maintaining a less than 1% return rate.
Track A: Omnichannel Retail & Returns
2:25 pm - 2:45 pm Optimizing Omnichannel Returns Through Concierge-Level Service and Returns Data AnalyticsThe rise of online shopping has seen a commensurate increased level of returns. As much as 30% of online purchases are returned, and 40% of consumers admit "bracketing": buying multiple versions of an item with the intent to return what doesn't work. Consumers increasingly want concierge-level service across the board, with multiple options to return by mail or in-store in equal measure. The cost to retailers to keep up can be debilitating. But, this is also an area of opportunity that can build trust, inspire loyalty, and increase CLTV, making it a strategic imperative to get right. We'll discuss:
-How to recover value from online returns.
-How to leverage data from returns to fix issues in supply chain and minimize potential returns.
-Innovative ways to increase your footprint and save costs without investing in additional real estate.
Sponsored by: Narvar
Track A: Omnichannel Retail & Returns
2:45 pm - 3:25 pm Peer-to-Peer Insights Interactive: Managing E-Commerce Transportation and Fulfilment LogisticsWith shoppers across the world developing loyalty for brands and retailers offering same-day or two-day product deliveries and hassle-free returns, it is more important than ever to have an efficient warehousing, distribution, transportation and e-commerce fulfilment network in place. Join this fireside chat for an overview of:
-Best practices in warehousing, fulfilment, packaging, transportation and reverse logistics
-Steps to achieving sales channels integration and real-time visibility into your inventory
-Delivering a seamless experience to your customers throughout the purchase-return cycle
Track B: Electronics in the Secondary Market
2:00 pm - 2:05 pm Track B Chairman Welcome RemarksTrack B: Electronics in the Secondary Market
2:05 pm - 2:25 pm Case Study: Driving Costs Out Of Returns While Creating Value For Your Supply ChainOver his 15+ year career in retail industry, Tom Orlando has had success as a buyer, planner, reverse logistics manager and operations leader. In his case study, he will share lessons learned and key tactics in:
- Mitigating return exceptions
- Reducing average cost of repair
- Adhering to CTIA grading standards and prioritizing better grades
- Improving return rules from customers
- Making your industry partnerships work
Track B: Electronics in the Secondary Market
2:25 pm - 2:45 pm Leveraging Advanced Data Analytics To Determine Fair Market Value of ReturnsSponsored by: Clover Wireless
Track B: Electronics in the Secondary Market
2:45 pm - 3:25 pm Panel: Best Practices in Returned Products Testing and Secondary Market PlacementThis session explores the latest approaches to cost-effective used electronics testing and grading, as well as secondary market sales channels that can help you recover losses on returned inventory. Main takeaways include:
-Ensuring adequate product testing and grading procedures that go beyond the cosmetic condition and basic functionality of used electronics
-Identifying optimal secondary market placement channels for returned inventory
-Choosing the right retargeting partner for ROI maximization
Track C: Fashion & Apparel
2:00 pm - 2:05 pm Track C Chairman Welcome Remarks
Track C: Fashion & Apparel
2:05 pm - 2:25 pm Case Study: Turning Returns Into Positive Customer ExperienceBuilding strong bonds with the consumers and promoting a positive brand experience requires the alignment of numerous processes, in which reverse logistics plays one of the leading roles. In fact, your company return management practices are as important as the sale itself – a person buying your product has high expectations for both pre- and post-sale customer service and doesn’t automatically categorize ‘sale’ and ‘return’ as two separate processes. To them, it is a holistic experience where cost, quality, return policy leniency and convenience go hand-in-hand. Therefore, your customer support practices should reflect and meet these expectations.
This session will cover best practices in:
-Reducing over-the-phone, online and in-store hold times to lessen customer frustration
-Improving the ease of communication with your company
-Empowering your staff to create positive returns experience for the customer
-Leveraging technology advancements to collect customer feedback and turn it into actionable insights
Track C: Fashion & Apparel
2:25 pm - 2:45 pm Driving Customer Loyalty with Seamless Global Returns and ExchangesMany omnichannel and online retailers look to sell internationally as a way to promote business growth and expand their loyal customer networks. Cross-border sales entail a different set of reverse logistics challenges but the key to a successful global returns and exchanges process is understanding your customer’s unique preferences. While consumer expectations around shopping are standardizing, there are still differences specific to each market that companies need to be aware of in order to provide the best experience possible and increase customer loyalty.
Join this session for a better understanding of consumer preferences in some of the world’s largest markets and how tailoring your returns approach can help:
-Reduce shipping costs with local returns processing, consolidation, negotiated carrier rates and optimal carrier selection in each country
-Significantly reduce customer service calls and call handling time
-Place stock back in the supply chain and available for sale more quickly
-Prevent non-compliant returns and automate processes
-Minimize carbon footprint with efficient supply chain management
Track C: Fashion & Apparel
2:45 pm - 3:25 pm Panel: Combatting Increasing Volumes of E-Commerce Returns in Fashion & ApparelAs e-commerce return rates continue its rapid outpacing of order growth across global marketplaces, it is imperative for direct-to-consumer brands to strike the right balance between rising consumer expectations in the returns experience with network inventory efficiency and supply chain costs.
Join this panel discussion for powerful insights on:
- Securing your market share and competitive advantage through multi-channel shopping and flexible returns policies
- Growing your online sales and balancing out increasing volumes of returns
- Capturing new opportunities presented by consumer data collection
3:25 pm - 4:25 pm Afternoon Refreshment & Networking Break
4:20 pm - 4:40 pm Keynote: Global Returns and International Reverse Logistics
Sponsored by: REVERSE LOGISTICS GROUP (RLG)
4:40 pm - 5:40 pm Interactive Roundtable Discussions
Speakers:
Greg Skrovan Senior Manager, Global Reverse Logistics Organization Intel Corporation
David Sobie CEO & Co-Founder Happy Returns
Robert Casanova International Trade Analyst U.S. International Trade Commission
Joe Ballato Director of Product Management Pitney Bowes
Felton Lewis IV Head of Alliances Newmine
Greg Skrovan Senior Manager, Global Reverse Logistics Organization Intel Corporation
David Sobie CEO & Co-Founder Happy Returns
Robert Casanova International Trade Analyst U.S. International Trade Commission
Joe Ballato Director of Product Management Pitney Bowes
Felton Lewis IV Head of Alliances Newmine
Networking opportunity: Join 10-15 like-minded reverse logistics professionals for a moderated discussion on two topics of your choice (two rounds of 30-minute discussions in total)
1. Convert Returns into Opportunities
- David Sobie, CEO & Co-Founder, Happy Returns
2. How to Select a Returns Solution that Fits Your Needs?
- Joe Ballato, Director of Product Management, Pitney Bowes
3. Returns and Warranties: Tactics for Winning in Reverse Logistics
- Greg Skrovan, Senior Manager, Global Reverse Logistics Organization, Intel Corporation
4. Reducing Returns through Quality Control and Automation
- Robert Casanova, International Trade Analyst, United States International Trade Commission
5. How to Build the Business Case for Returns Reduction: Ownership, ROI, and Playbook
- Felton Lewis IV, Head of Alliances, Newmine
5:40 pm - 6:40 pm “Texas Backyard BBQ” Welcome Networking Reception
“Texas Backyard BBQ” Welcome Networking Reception
Grab a beer, a slider, kick back and relax at our welcome networking reception. After a full day of content, it’s the best time
to mix and mingle with your peers while enjoying food and live entertainment!