Upgrading the returns process for a more circular economy

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Around 30 percent of online shoppers purposely over-purchase, with the intention of returning any items they are not happy with. Although this aspect of e-commerce is popular with shoppers, it creates a problem for retailers, with the global cost of product returns estimated at upwards of USD 220 billion. Free shipping, inefficiency and the low residual value of the returned merchandise all contribute to the impact of the high return rate. This problem is likely to continue as e-commerce penetration increases, and as retailers are forced to maintain free shipping and return policies in order to remain competitive. One way…

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