When we experience buyers remorse about an item, what do we do? We return it. Either in store, or through the mail. But what happens to those products after we send them back? Surely they're repackaged and restocked, right? In a lot of cases, no. Many vendors aren't equipped to process those returns, and they can end up being sold in bulk at a loss, or worse, dumped in a landfill.
Sender Shamiss has made it his mission to prevent that from happening. He's the co-founder and CEO of ReturnPro, a global reverse logistics platform that works with the world's largest retailers and vendors to solve the significant problem of merchandise returns.
Today, we discuss the complexity of restocking returned items, the prevalence of fraud in merchandise returns, and how ReturnPro leverages innovative tech solutions to lessen that nearly 900-billion-dollar burden on the retail industry.
Highlights:
- What happens to returned items? (3:14)
- Why have retailers ignored the issue? (7:18)
- ReturnPro's services (8:56)
- Working with big and small retailers (10:57)
- Recovering value from returns (13:27)
- The role of tech (16:22)
- Returns ending up in landfills (19:02)
- The impact of tariffs (22:08)
Links:
Feedback:
If you have questions about the show, or have a topic in mind you'd like discussed in future episodes, email our producer, marion@lowerstreet.co.
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