[Featured in Reverse Logistics Magazine]
The collective work we all have done to build this industry has now made reverse logistics one of the most sought-after areas of investment for venture capitalists and opportunistic companies looking to diversify their offering. Some notable examples in recent months include Affirm’s acquisition of Returnly and PayPal’s purchase of Happy Returns. “Returns”, once a stigmatized word, has now become the retail hot spot.
Our RLA community has demonstrated the value of our industry, either by creating logistics efficiencies, helping create conveniences that drive loyalty, or by offering alternatives to sending these problematic items to a landfill. Retailers and Manufacturers across the globe are interested and invested in leveraging this largely untapped part of the retail equation. With reverse logistics costs amounting to 59% of the original sales price, they will not endure unless they can reduce those costs or find a way to uncover additional recovery on those returned items.
So, now that the spotlight is on us, where do we go from here?…
