New Insights on How Retailers Can Optimize Reverse Logistics to Improve Customer Satisfaction, Maximize Profits and Minimize Store Associates’ Time
Boston, MA – January 5, 2021 – With the dramatic increase on online transactions during the holiday season and with fitting rooms closed in brick and mortar stores due to the COVID-19 pandemic, retailers are expected to see record volumes of merchandise returns. The cost of returns on retailers’ profitability can be significant, as it is estimated that less than 50% of returned items can be sold at full price.
“Reverse logistics is often a process that doesn’t garner a lot of time and attention from retailers; however, optimizing reverse logistics may be a missed opportunity to improve customer satisfaction and increase profits,” said Ken Morris, managing partner at Cambridge Retail Advisors. “With the high cost of reverse logistics, it is imperative that retailers do whatever they can to optimize these processes to minimize the impact on profits. It is also critical to make to return processes quick and frictionless for customers, as one bad experience can turn a loyal customer into a former customer.”
The increase in products purchased online and returned in the store is also creating an immediate need for better omni-channel returns processes. Now it is time for retailers to optimize their reverse logistics processes. This white paper outlines five key steps to optimizing retailers’ reverse logistics policies and processes.
1. Establish Customer-friendly Return Policies
2. Design Efficient Return Processes
3. Determine Optimal Merchandise Disposition
4. Optimize Reverse Logistics Transportation Processes
5. Analyze and Optimize Returns Processes
To download the 5 Steps to Optimizing Retail Reverse Logistics white paper, visit:
About Cambridge Retail Advisors
Cambridge Retail Advisors (CRA) is an innovative and independent retail store and restaurant consulting firm dedicated to providing superior service and enduring value to our clients. CRA combines its consultants’ deep retail and restaurant business knowledge and cross-functional capabilities to deliver and implement client specific strategy, technology, and process solutions. The firm’s unique combination of industry focus, knowledge-based approach, and rapid, end-to-end solution deployment helps clients achieve their maximum business potential. CRA’s consulting services include:
Strategy | Business Intelligence | Business Process Optimization
Point of Sale (POS) | Mobile POS | Store Systems and Operations
Payment Security | CRM | Customer Experience & Engagement
Order Management | E-Commerce | Merchandise Management
Unified Commerce | Supply Chain | Micro-fulfillment
CFOaaS | Private Equity
For more information, visit: http://www.cambridgeretailadvisors.com
 A $260 billion ‘ticking time bomb’: The costly business of retail returns, 12/16/16, https://www.cnbc.com/2016/12/16/a-260-billion-ticking-time-bomb-the-costly-business-of-retail-returns.html.