Industry Insights From Renewal Logistics:
Reverse Logistics: The Key to Solving a Trillion-Dollar Problem
The growth of e-commerce has created a trillion-dollar issue worldwide annually regarding returns. Understanding how reverse logistics works could help your apparel brand build customer loyalty, create repeat business and minimize returns-related losses.
Did you know?
During the recent peak season, returns typically rose as high as 30% of online purchases. And there’s no way around it: Retailers lose money on returns.
Working with a 3PL on reverse logistics management is one way that e-commerce companies can improve their returns strategy and increase overall profitability. A well managed supply chain can allow consumers to easily return items. The right 3PLs can help manage this process from consumer all the way back to supplier if needed.
Often times a product can re-enter a brands inventory for resale but sometimes adjustments are needed to make the item factory fresh again. Value Added Services can allow brands to keep their returned products in the same location for refurbishment and eventually resale.
This can play a large factor in a company’s ESG and is something to look if a brand is looking to reduce their carbon footprint AND save money. Savings on storage and transportation are an easy way for brands to reduce the financial losses due to returns.
Want to learn more about starting or updating your returns program? Click here
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If you ever want to chat with our existing clients, many of them we have NDAs with, so I can’t share their names on the website or in our newsletter, but I assure you, you’ve purchased product from them, and if you want to verify our consistency, accuracy, and ability to handle complexity with ease, they’ll be happy to talk to you.