Why Retailers Need a Chief Returns Officer Which retail department is most impacted by returns? With retailers coping with returns valued at a...
Newmine and RVCF Publish Study On the Challenges of Customer Returns
About the Study
For years, retailers and merchandise suppliers have considered returns a cost of doing business. If “fast and easy” returns are a standard expectation of today’s empowered consumer, you need a return policy that satisfies that expectation, even as the number of returns continues to increase with the growth of e-commerce. However, market pressure to satisfy the increasing expectations of today’s consumers has resulted in a $400 billion problem that has been called retail’s “ticking time bomb.”
Returns Reduction experts at Newmine partnered with the Retail Value Chain Federation, the driving force in collaboration, to publish a study about “Understanding and Overcoming the Challenges of Customer Returns.” This study sheds light on why returns continue to be such an expensive problem for the retail industry and what steps can be taken to reduce returns and boost bottom lines. The report covers:
- Industry Overview of the Returns Challenge
- Organizational Obstacles to Achieving Returns Reduction
- Keys to an Effective Returns Reduction Strategy