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While simple and easy return policies are a critical component to generating customer loyalty, they will generate additional returns. Let’s face it, unless a retailer has a zero-returns policy (highly unlikely), it will receive products back that can no longer sell as new. Accordingly, putting a plan in place to recover from the costs of returned product becomes essential.
Online retailers fully understand that an increase in sales usually results in increased return rates. For quickly growing SMB retailers that don’t have access to a large, complex system of warehouses and distribution centers, finding a warehouse solution becomes essential in processing returns. Renting, buying, or even building your own warehouse might be possible in a state like Missouri where land is available; but if you’re trying to build your business in a state like California where land is extremely expensive, renting a warehouse could be a costly venture. When cost due to geography matters, a good solution could be a company like Innovel Return Solution Center, which is strategically located in Columbus, OH. The center processes millions of different types of returns: from apparel, to small appliances, tools, footwear and everything else in between.
Companies like Innovel perform third-party specialty services such as inventory rebalancing, overstock mining, and off-price merchandising for store or forward DC (distribution center) readiness. They can also perform basic supply chain functions, such as storage, kitting, sorting, cross docking, and other various supply chain needs and services.
Keep in mind, once returns appear in your warehouse, the next step is figuring out how to offset loss for them. This is where B-Stock and our B2B marketplace B-Stock Supply comes in. Contact us today to learn how you can quickly turn your returned and excess inventory into cash (no matter where it’s located).