The rate of returns in the US continues to increase with no end in sight. Shifts in consumer behavior and the changes to retailer return policies to satisfy consumer preferences are fueling the increase. And the gap gets wider and wider.
A recent report released by Allied Market Research is raising a lot of eyebrows in the reverse logistics industry. The report concluded that the global reverse logistics market could reach $603+ billion in just 5 years.
Tis the season for higher online sales, returns, and critical warehouse challenges that can cripple ecommerce and fulfillment facilities.
What is causing the perpetual increase of return rates? There are a few fingers to be pointed, from more relaxed return policies to shifting consumer behavior.
Our ability to quickly and in real time assess that value, and then market the product to these buyers will create a synergetic link between customer experience and bottom line profits.
goTRG’s introduction of the first machine learning neural net-based AI that is able to collect millions of points of data, is poised to revolutionize the reverse logistics play field.
Across the marketplace, myriad companies have always been collecting Big Data. But what are they doing with it? They collect it and save it and store it. For what?