Even as more retailers are increasing thresholds for free returns shipping in the face of massive volume and steadily rising costs, 79% of consumers said they’d be more likely to make a repeat purchase from those offering free returns or exchanges, according to a new survey from solution provider Loop. 75% said they expect retailers to make new product suggestions based on their purchase.
Managing the costs of returns and leveraging them as an opportunity is critical for retailers. Returns might be a significant expense, and while managing those costs is critical to maintaining … Continue Reading →
Always a thorny issue for retailers, returns has turned into quite the conundrum in 2023. New solutions are sprouting up every day, but the rising costs have ballooned. Meanwhile customer expectations around are rising, so where are we now? To help answer that question, we talk to Brian Kilcourse of Retail Systems Research, in this Multichannel Merchant webinar.
A new app-based returns solution called ReturnQueen, which provides a concierge-like service where consumers can pay a one-time, monthly or annual fee and leave multiple returned items from different retailers at their door to be picked up, has expanded nationwide and is launching a B2B offering. The partners have been in discussions with midsize and enterprise level retailers.
Outdoor retailer giant and sustainability market leader REI announced plans to open a new circular Re/Supply location in Clackamas, Oregon in late August 2023. The new store follows REI’s Re/Supply store in Manhattan Beach, California, which opened in 2020. The new store location will feature lightly used gear and apparel that REI receives through its returns and trade-in programs.
Retailers and CPG companies have had a symbiotic relationship for decades, teaming up to offer customers more choice in convenient in-person and ecommerce storefronts. As both take on each other’s challenges, they must learn from the other’s processes and best practices to sustain new revenue streams in the long term based on evolving consumer behaviors, preferences and spending habits.
A clear, comprehensive ecommerce returns policy is a great preventive measure. It helps customers understand how and when they can return products, acting as insurance for them and your business. However, there are other less obvious but nevertheless influential tactics you can and should employ. Here are seven more ways you can reduce returns, protect profits and improve customer satisfaction.
Wix, a platform for merchants to create ecommerce storefronts, has partnered with shipping services provider Shippo to add a set of natively integrated tools its customers can use to simplify order delivery and take advantage of volume discounts with carriers. Wix Shipping went live in November in Canada and has now launched in the U.S. and the UK, with plans to expand shortly to Germany.
Pitney Bowes came out swinging at investor Hestia Capital, which has started a proxy fight aimed at reshuffling its board and management, accusing the firm of having a vague strategy for the parcel shipping and cross-border firm, and lacking understanding of how to run a logistics business. The annual meeting will be held in May.
Two Boxes, a software startup promising to make the dispositioning of ecommerce returns more efficient for brands and 3PLs, has launched with a $4.5 million seed round and advisors from Amazon, Shopify, Whiplash, Loop Returns and Rent the Runway. Funding was led by Vinyl Capital, with Matchstick Ventures and Range Ventures.