The ceo at Returnly explains how to make product returns better – for shoppers, and the planet.
More than previous generations, today’s shoppers are turning to retailers that align with their social and political concerns — from clean energy to gender equality to water conservation. They expect companies to do more than turn a profit and as a result, a growing number of businesses have adopted the triple bottom line. Triple bottom line expands the traditional accounting framework of profits to include two other performance areas: people and planet.
In e-commerce, we’re seeing this become increasingly challenging when it comes to product returns. According to FedEx, e-commerce is expected to double to 100 million packages a day in the United States by 2026. With so many packages being delivered, returns are becoming a major issue. Here are a few ways that retailers of any size can add green policies to their reverse logistics chain to make product returns friendlier for both shoppers and the planet.Data and technology are ushering in a new wave of sustainable solutions to reduce return waste entirely. Whether that’s using data to reduce the likelihood of returns, letting customers keep items that can’t be resold or encouraging local shoppers to bring returns to their nearby store , retailers have a number of options.
As an example, Thinx, a leading women’s intimates brand offers a “returnless refund” experience where select customers can be refunded without being required to return the original item. This creates an unexpected experience for their customers, while eliminating the wasted resources that the return would create.Another way to inject green policies into your reverse logistics is to get rid of pre-printed return labels and the additional inserts that come with it.
Green strategies like these can help retailers of every size make meaningful social and environmental change while building trust, loyalty, and profit along the way.Eduardo Vilar is founder and chief executive officer at Returnly, a returns and refunds platform for brands and retailers.
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