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As virtual shopping bags replace physical ones, it’s important for retailers to update their policies and logistics strategies to align with consumer behavior and expectations.
This is particularly the case when deciding how to handle apparel returns, which boast one of the highest return rates: one in three purchases are sent back.
This trend, and the growing cost associated with it, creates a new urgency for e-retailers to rethink their reverse logistics processes. This includes what happens to the merchandise that cannot be returned to virtual shelves and is slated for liquidation on the secondary market.
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…