We spent the past three days in Nashville, Tennessee attending the 2017 Consumer Returns Conference. We had the privilege of meeting several retailers, brands, and vendors that are all working to confront and transform the consumer returns process. The conference encouraged conversations around how to optimize value from returns, as well as, the reverse supply chain.
Presentation topics ranged from the proper handling of in-store returns, to the refurbishing process, to the optimal use of data throughout the returns process. One panel we found particularly interesting covered the opportunities available within the secondary marketplace. Four panelists from Acer, Vista Outdoor, Dell Outlet, and PSC Wireless discussed their unique experiences working with secondary markets in order to maximize ROI from returns. With many years of experience, the panelists encouraged the audience to think about competitive price points on the secondary market, accurate grading for high-value consumer electronics, and the value of branded items.
Additionally, they addressed the need to focus on the customer. They noted that as consumers become more comfortable buying on secondary marketplaces, they expect to have similar buying experiences as those on the first-hand market. In short, regardless of where customers are spending their money, they expect exceptional customer service.
As part of this year’s conference, our Vice President of Solutions, Ken Lim, had the opportunity to present to retailers and brands in attendance. He discussed the five key considerations companies must think through when creating a reverse logistics strategy. Specifically, he highlighted three supply chain considerations, a consideration regarding remarketing and reselling goods, and a final one around technology. Understanding that each audience member has unique needs when it comes to designing a reverse supply chain strategy, Ken noted that, regardless, it is crucial to implement a technology solution that can address current and future reverse logistics needs.
Learn more about the 5 Key Considerations Ken discussed here.