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Amazon last week launched two new programs that it predicts will keep 300 million products in use each year, furthering its circular economy goals. Small companies will be able to resell returned goods as used on Amazon, and they can offload the handling of returns and overstock merchandise to Amazon and its partners, through the new Fulfillment by Amazon Liquidations and Grade and Resell options.
While online commerce has boomed during the COVID-19 pandemic, the retail colossus has come under fire for destroying mountains of new products including laptops, iPads, TVs and face masks instead of reselling, recycling or otherwise keeping them in circulation. Exposés last year by iTV News in the U.K. and later the Canadian Broadcasting Corporation outraged consumers and sustainability advocates, leading Amazon to pledge it would work toward “zero product disposal.”
According to recent data from the National Retail Federation (NRF), 2024 saw a record-breaking $890 billion worth of merchandise returned to retailers. As the leading B2B recommerce platform, B-Stock also saw a record-setting number of buyers, bidders, and listings on…
With a projected annual return rate of 16.9%, 2024 saw a staggering all-time high of $890 billion worth of merchandise returned to retailers. While a natural byproduct of retail, this merchandise places immense pressure and additional costs on retailers and…