Consumer Returns Management 2021 Blog
As they continue to grapple with omnichannel purchases, retailers are applying analytics and identifying trends to learn how their product sales are performing across channels. Now they're looking to improve returns data and use it to drive better customer experiences.
Like many industries, warehousing is being transformed by the advent of digital technology. Manual processes are being replaced by automation, and advanced software such as artificial intelligence and the Internet of Things are making it easier and more convenient to process returned products.
Fashioning a circular economy will help industries create a better world. Reverse logistics has a key part to play & must work & innovate to make sure the products returned to them are reused and refurbished as much as possible, with disposal only ever being considered once all other efforts have failed.
As ecommerce grows, naturally, so too will the need to facilitate returns. In fact, the need for returning products becomes even greater with ecommerce as customers often don't know exactly what the product will look like until they're holding it in their hands.
Research by the NRF states that, of the 11% of retail products which are returned, 8% will be sent back to the point of origin fraudulently. The research in question focused on brick-and-mortar retailers, but it seems likely that the figure would be just as high, if not higher, when ecommerce is considered as well.
Digital technology is transforming industry all over the world. From restaurants to retail, innovative devices and software are helping businesses run more efficiently and serve their customers better than ever before.
Fault-free or no fault found (NFF) returns pose a massive headache for the retail industry, but Best Buy and Appriss Retail have come up with an elegant, if controversial, solution for these pains.
Climate change and green solutions are at the forefront of the strategies of many businesses who take their environmental responsibilities seriously, and Lenovo is using its own reverse logistics supply chain to do its part for the planet.
Marrying the power of the hugely popular Walmart App with its brick-and-mortar locations, the world's largest retailer by revenue rolled out Mobile Express Returns - an omnichannel returns innovation that slashes the time it takes for customers to return an item bought online down to just 30 seconds - in November last year.
With so many returned products ending up in landfills as waste, ecommerce marketplace Groupon formed a partnership with reverse logistics tech firm Optoro to boost its sustainability and keep returned and excess inventory out of the trash.