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With the festive season well and truly over, many retailers now have the enviable challenge of handling the surge in customer returns that has become common place at this time of year. To give you an idea of the scale, The Telegraph reported that UK retailers incurred costs of £180m from consumers returning goods bought during the 24-hour sales period of Black Friday 2015. When this is compared to the entire festive shopping period, it is clear that the costs associated with Christmas 2015 returns will be significantly higher.
The numbers are hard to ignore. According to the National Retail Federation, retailers expect ~16% of annual sales to be returned, roughly $850 billion in merchandise. According to McKinsey & Company, it’s forced retailers to spend an estimated $200 billion…
In honor of Earth Day, explore how recommerce is transforming the retail landscape by driving sustainability and the circular economy. As the world’s largest B2B recommerce platform, B-Stock enables retailers and brands to redefine sustainability by giving new life to…
When returned and unsold goods tie up working capital and force write-downs, they quietly erode margins, delay cash conversion, and impact financial performance every single day. Discover how finance teams are turning to technology-driven B2B resale platforms to: Improve recovery…