Why Retailers Are Rethinking Their Approach to Returns
The surge in e-commerce has brought with it a boom in returns, causing a logistical, financial and environmental challenge for retailers but our research suggests the industry is at a turning point and that the rise in returns is driving a re-evaluation of the current systems.
Returns handling processes that aren’t designed for large volumes are a major source of the challenge. Retailers are struggling to effectively process and extract maximum value out of returned items leading to financial loss as well as environmental waste. But with the right systems in place, there could be an opportunity to tackle the challenge while also enhancing the customer experience at the same time.
Insights from a survey of more than 1,000 senior e-commerce decision-makers from retail and consumer goods brands across Germany, the UK, Mexico and the U.S, reveal the challenges they’re facing and the potential future of retail returns.
Research reveals that returns have increased by 19% over the past two years, and 54% of businesses are concerned about the cost of returns.
The impact of e-commerce returns on the environment is more important than ever. However, one of the biggest environmental challenges for retailers is waste.
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