Consumers return 30% of purchases yet only 30% of retailers quantify the full cost of returns. And with retail returns amounting to $380 billion per year in the United States alone, there is a shocking amount of money left on the table.
Optoro and Supply Chain Dive recently surveyed 120 major US retailers to get a pulse on the current state of the returns industry, and found that most retailers are still lacking a solid returns strategy – which if implemented, can improve profit margins, grow customer loyalty, and positively impact the environment.
Do most retailers track and report their returns?
How many use technological solutions to do so?
How many consider returns to be important to customer loyalty?
How do returns fit into to a sustainability strategy?
We asked all these questions and more, and present the answers in our latest report, State of Retail Returns 2018: Insights on the Returns Industry.
Download the report now to understand where the majority of major retailers stand in terms of a returns strategy and learn how to grow your own profit margin by improving your returns processing through the use of modern technology.