e-commerce returns

Pitney Bowes, Narvar to market joint e-commerce returns offering

Woman on tablet managing an ecommerce return

As e-commerce returns continue to accelerate, brands are looking for solutions that can reduce costs and improve customer service.

The National Retail Federation conducted a survey prior to the 2021 holiday season. The Consumer Returns in the Retail Industry 2021 survey found that $761 billion in merchandise was returned in 2021 among all retail channels. For every $1 billion in sales, retailers incur $166 million in costs because of returns. Online returns totaled $218 billion in 2021. Returns...

https://www.freightwaves.com/news/pitney-bowes-narvar-to-market-joint-e-commerce-returns-offering

E-commerce returns: Give the customers what they want

With 60% of consumers willing to break up with a brand over a bad customer experience, the ability of brands to manage the e-commerce customer’s journey has never been more important.

Shippo, an e-commerce technology company that brings together technology, fulfillment and carrier partners, surveyed 1,000 e-commerce customers to find out what is most important to them when it comes to returns. Retail returns from U.S. online sales jumped to 20.8% in 2021, according to data from the National...

https://www.freightwaves.com/news/e-commerce-returns-give-the-customers-what-they-want

Returns are causing a holiday hangover for retailers

Breaking down holiday returns data reveals a potential headache for retailers

On Monday, millions of Americans celebrated Valentine’s Day, but retailers were still celebrating Christmas. 

While the winter holiday season ended over a month ago for consumers, retailers are still in the thick of it, contending with a mountain of product returns the likes of which they’ve never seen. According to a ​​report from the National Retail Federation, U.S. consumers will return about $158 billion worth of goods purchased between Nov. 1 and Dec. 24. That’s more than a 56% increase...

https://www.freightwaves.com/news/returns-are-causing-a-holiday-hangover-for-retailers

How ReturnBear sees the future of online returns

In 2018, retail consultant Steve Dennis predicted that e-commerce returns would become a drag on retailers’ earnings.

“As e-commerce captures a growing share of all retail sales, omnichannel brands that have high return rates and high return handling costs find themselves in the unenviable position of seeing their marginal economics deteriorate — what I refer to as the ‘omnichannel migration dilemma’ — as their online business grows,” he wrote at the time for Forbes.

What Dennis saw and others...

https://www.freightwaves.com/news/how-returnbear-sees-the-future-of-online-returns

PayPal dives into post-purchase sector with acquisition of Happy Returns

PayPal (NASDAQ: PYPL) will acquire e-commerce returns specialist Happy Returns. Terms were not disclosed.

The news was first reported by CNBC.

Frank Keller, senior vice president of consumer in-store and digital commerce at PayPal, told CNBC the acquisition fits with PayPal’s vision moving forward.

“The post-purchase experience is something we’ve been looking into since it’s such a pain point — people want to shop online and return in store, and vice versa,” he said. “For retailers, we’re...

https://www.freightwaves.com/news/paypal-dives-into-post-purchase-sector-with-acquisition-of-happy-returns

Commentary: How reverse logistics creates value for large-product retailers

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates.

Moving in reverse isn’t always a good thing. But when it comes to supply chains, adding reverse logistics to your business strategy is definitely a good idea.

If the concept of reverse logistics is new to you, take a digital stroll through this helpful article compiled with details about what reverse logistics entails, why it’s important, and how, as a...

https://www.freightwaves.com/news/commentary-how-reverse-logistics-creates-value-for-large-product-retailers

Affirm Holdings acquires e-commerce returns specialist Returnly

Affirm Holdings, a company that specializes in providing “buy now, pay later” (BNPL) solutions for consumers, has reached an agreement to acquire e-commerce returns and post-purchase company Returnly.

Affirm (NASDAQ: AFRM) will pay $300 million for Returnly. The transaction is expected to close during the second half of Affirm’s fiscal year, which ends June 30.

“Over the last few years, alongside the rapid growth of online shopping, consumers’ expectations of accommodations for returns and...

https://www.freightwaves.com/news/affirm-holdings-acquires-e-commerce-returns-specialist-returnly

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