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By: Karnvir Mundrey
Reverse logistics refers to the process of managing the flow of products or goods from the customer back to the seller or manufacturer.
It encompasses activities such as product returns, repairs, replacements, recycling, and disposal. In the context of ecommerce, reverse logistics plays a crucial role in the overall customer experience and can significantly impact the operations and profitability of online businesses.
Returns are now being seen as a major financial and environmental cost for ecommerce companies. While precise figures may vary, research suggests that return rates for ecommerce can range anywhere from 10% to 30%. Some product categories, such as apparel and footwear, electronics, and home goods, tend to have higher return rates due to factors like sizing issues, product fitment, or customer preferences.
JP Castlin & James Hankins at Cannes Lions 2022 had predicted the impact of the funding winter and the reduction of reverse logistics services. They again are speaking at Cannes Lions 2023, and are predicting the next set of changes forseen in the eCommerce industry.
The Cannes Lions International Festival of Creativity has championed creative excellence since 1954, providing the definitive benchmark for creativity that drives progress, globally.
JP Castlin & James Hankins speak at Cannes Lions Festival of Creativity on 21st June 2023 at 1.00 PM. Dont miss it, if you want to know the future!
Karnvir Mundrey is the Editor of TheFutureofPR.com. He can be reached on kmundrey@thefutureofpr.com.
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