Executive Briefings

How Much Are You Losing Because Your E-Commerce Returns Aren't Managed Well?

The explosive growth of e-commerce sales is bringing a subsequent spike in e-commerce returns. To put it in perspective: Returns are projected to grow at a 15 percent annual rate, and 30 percent of online purchases were returned last year, according to research from commercial real estate firm CBRE.

How Much Are You Losing Because Your E-Commerce Returns Aren't Managed Well?

Buyer's remorse from consumers not being able to touch or try on products plays a large role, as does the propensity to order 2 to 3 sizes or styles and send back the ones that don't work. No matter the reason, this trend is costing retailers billions, a pretty big dollar amount that can’t be ignored.

This trend, and the growing cost associated with it, creates a new urgency for retailers to put an efficient reverse logistics process in place. This includes what happens to the merchandise that can’t be returned to virtual shelves and is slated for the secondary market. It has never been more important for retailers to implement a world-class liquidation solution that captures maximum value for this inventory.

If you still answer the question, “How do you liquidate excess inventory?” by saying something like,“We have a couple of guys we sell to,” you are doing a disservice to your company and your shareholders as you are undoubtedly leaving huge amounts of money on the table.

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Buyer's remorse from consumers not being able to touch or try on products plays a large role, as does the propensity to order 2 to 3 sizes or styles and send back the ones that don't work. No matter the reason, this trend is costing retailers billions, a pretty big dollar amount that can’t be ignored.

This trend, and the growing cost associated with it, creates a new urgency for retailers to put an efficient reverse logistics process in place. This includes what happens to the merchandise that can’t be returned to virtual shelves and is slated for the secondary market. It has never been more important for retailers to implement a world-class liquidation solution that captures maximum value for this inventory.

If you still answer the question, “How do you liquidate excess inventory?” by saying something like,“We have a couple of guys we sell to,” you are doing a disservice to your company and your shareholders as you are undoubtedly leaving huge amounts of money on the table.

Read Full Article

How Much Are You Losing Because Your E-Commerce Returns Aren't Managed Well?