How Independent Retailers Can Remain Competitive In A Returns-Happy Marketplace
There is a major shift happening in retail right now: department stores and high-profile retail chains that once seemed to be firm fixtures on our high streets are announcing massive store closures and bankruptcies, while billions of pounds in sales are moving from in store to online. While this has created issues for some, many others are migrating to new strategies in order to meet the needs of consumers; this includes establishing relaxed return policies to compete successfully against other retailers and implementing ongoing programs to effectively deal with those returns.
This trend, and the growing cost associated with it, is having a major impact on retailers of all sizes; this is especially evident when it comes to merchandise that can’t be returned to store or virtual shelves and is slated for liquidation. For smaller, independent retailers with already skinny margins and limited resources, it’s essential that they understand the true value of the stock and reassess whatever programs they have in place for the handling and remarketing of it.