The surge in direct-to-consumer (DTC) e-commerce sales over the past seven years has been nothing short of phenomenal. Insider Intelligence highlights this growth, citing a jump from $36.08 billion in 2016 to a staggering $128.33 billion in 2021. Forecasts even predict this figure touching $212.90 billion by 2024’s end. Parallelly, B2B online sales are expected to hit $1.8 trillion in 2023, accounting for 17% of all sales. However, a darker side to this growth is the high return rates. Retail Dive estimates that 20-30% of products ordered online end up being returned. Such volumes of returns can significantly dent profits, emphasizing the urgency for an all-encompassing returns management solution.

The keys to making an impact are:

Creating Low Friction for the Customer

Retaining a customer is five times cheaper than acquiring a new one. In the era of instant gratification, making returns easy and seamless can bolster brand loyalty. A noteworthy 92% of consumers pledge loyalty if returns are hassle-free. Here’s how we can achieve that:

Efficient Return Processing

The backend process of returns can be laborious, yet often neglected. With e-commerce on the rise, businesses can’t afford this oversight, especially when labor is scarce. Streamlining this process is the need of the hour:

Analytics to Gain Actionable Insights

A superior Return Management System provides invaluable insights to refine and improve operations:

Fraud Prevention

According to LinkedIn insights Fraud is a major issue in reverse logistics and returns, as fraudsters can take advantage of return policies to get free products, money, or both. Return abuse is when customers return used, damaged, or altered products that were not purchased from you. The best way to efficiently manage these concerns are:

Reduce Environmental Impact

With an eye on minimizing their environmental impact, companies across industries are rethinking how to efficiently manage returns while maximizing resell, repair, and recycle opportunities. New breakthroughs in data analytics are driving the best way to improve sustainability of returns—and how to avoid them in the first place.

In Closing

The need for a holistic Returns Management Solution is undeniable. It’s about bridging customer experience, operational efficiency, cost management, and inventory goals seamlessly. The collaboration between industry front-runners, ReverseLogix and Connors Group, promises a world-class reverse logistics solution, primed for tomorrow’s challenges.

ReverseLogix has a comprehensive returns management system (RMS) that enables companies to streamline return requests, logistics, inventory, and processing, connecting every point in the return lifecycle all through an intuitive and flexible SaaS platform.

Connors Group is a leading provider of productivity and operational improvement solutions, helping clients improve their efficiency through its continuous improvement, performance management, and WFM system implementation services. Connors Group has extensive field experience and is credited with developing leading-edge workforce management tools and proven methodologies for long-term operational success.

To learn more about the Connors Group and ReverseLogix Returns Management solution contact us at: | ReverseLogix LinkedIn

Connors Group | | 800.813.7028