Purple Squirrel Partners combines its strategic services with Newmine’s Chief Return Officer® to address retail’s $1 trillion product returns challenge
SOUTHBOROGH, MA, April 12, 2023 – Ninety-one percent of retailers are experiencing an increase in returns, yet only 19% have a strategic returns program, according to Incisiv. These findings underscore the pressing opportunity for retailers to equip themselves and address the growing issue of returns.
Newmine and Purple Squirrel Partners (PSP) are turning the return equation on its head by combining PSP’s services with Newmine’s Chief Returns Officer® to provide retailers with a strategic returns reduction program. This partnership provides retailers with an accelerated service by combining PSP’s experienced returns advisors with Newmine’s AI solution, which identifies anomalies and recommends correctable actions to prevent returns, improve profitability and build customer loyalty.
“Many companies don’t have the tools or know where to start when it comes to preventing returns,” said Navjit Bhasin, Founder and CEO of Newmine. “Purple Squirrel Partners has extensive knowledge and expertise in this area, so we’re pleased to work with them.”
“Retailers tend to deploy tools that address just the logistics issues surrounding merchandise returns, which does not reduce the volume or expose the root causes of the problem. Newmine changes the game, providing actionable insights that resolve issues upstream to lower the return rate and deliver significant ROI,” said Tony Arona, Managing Partner of Purple Squirrel Partners.
Newmine’s Chief Returns Officer is an Applied-AI SaaS solution that helps retailers and consumer brands to think differently about returns. While most solutions focus on easing the returns process, Newmine determines the reasons for those returns, in season, in time to take corrective action and prevent them from happening in the first place.
As a reseller of Newmine, Purple Squirrel Partners delivers personalized service and deep expertise to ensure retailers get the best return from Newmine’s technology. Their innovative services provide turnkey solutions, from strategy through adoption, without adding new demands on a retailer’s workforce.
About Newmine
Newmine’s vision is to ensure retailers thrive in a transforming world. Newmine’s Chief Returns Officer® is the first and only SaaS returns intelligence platform that helps in reducing returns. This Applied-AI platform gives retailers a holistic view of returns-related insights, prescribes corrective action and enables collaboration. Visit www.newmine.com for more information.
About Purple Squirrel Partners
Purple Squirrel Partners (PSP) is an innovative services firm, changing the landscape to offer experienced resources and solutions at a fraction of the cost. From business development to strategic advisement, PSP can augment your needs to improve your business performance and connect you with best-in-class skills and solutions. If you are looking to enhance your business through leveraging AI technologies, PSP can assist and help you enable and operationalize improvement through adoption and change transformation. Our innovative approach assures our clients have the expertise they need when they need it and get the value they expect to ensure success. If you’d like to learn more, please contact us at [email protected].