goTRG teamed up with leading industry trade publication, SupplyChainBrain, to produce our inaugural Retail Returns Sustainability Report 2024 surveying over 250 retailers and brands in the United States. The reported survey findings illustrate the impact of returns on retailers' financial viability and sustainability with returned items in the US generating 16m metric tons of carbon emissions and 9.5 billion pounds of landfill waste annually.
Survey results indicate a growing recognition of sustainable practices in returns management with companies aligning strategies with consumer expectations and environmental accountability. The data shows a trend towards more sustainable practices, such as the rise in Buy Online, Return In Store (BORIS) returns. Retailers are investing in enhancing their reverse supply chain and returns processes with a focus on reducing the number of touches to minimize energy consumption and waste generation. Consumer attitudes towards purchasing second-hand or refurbished products are also evolving, indicating a shift towards more sustainable shopping behavior. Transparency in sustainable returns practices is crucial with customers demanding more transparency from retailers. Despite challenges such as cost implications and lack of consumer awareness, there is a belief in the positive impact of sustainable practices on the bottom line.
Findings indicate that the retail sector is increasingly prioritizing sustainability in returns processes, presenting opportunities for growth and contributing to a more sustainable business ecosystem. The data also shows an improvement in how retailers perceive the impact of retail returns on their businesses, suggesting a positive trend towards mitigating the severity of the problem through intentional investments and partnerships with certified returns management providers.
