Digital World

The boom and expansion of e-commerce come with its own set of challenges and one of the biggest issues is RETURNS. Offering consumers a no-question-asked and easy return policy is the gold standard for attracting and retaining customers in a cut-throat market landscape, but it can pose also huge challenges, in terms of Reverse Logistics and the associated costs. While deeper customer engagement, personalization, and better visual representation can lower dissatisfied clients to an extent, the real Reverse Logistics challenge stems from the dark world of counterfeiting.  Counterfeiting (in retail and B2B sectors) hurts profitability and damages the reputation of organizations. According to a report released by the OECD and the EU’s Intellectual Property Office, counterfeit goods represent 3.3% of world trade, and much of this occurs somewhere in the supply chain. Blockchain technology has emerged as a useful tool to counter the various Reverse Logistics Challenges . With its distr...

Shopping ways are indeed changing! For many consumers spotting a grabby watch in a magazine, on a billboard, or somebody’s wrist can be an exciting feeling. But the very thought of driving to a store, finding parking space for your car, identifying the right size in stock, and waiting in a queue to pay can be a dampener. All these elements associated with in-store visits have prompted consumers to opt for easy-to-use mobile apps to meet their shopping needs. The surge in e-commerce over the years has brought into focus the importance of Reverse Logistics. Of course, Reverse Logistics has been part of retailing for many years now, but its significance has been felt more given the e-commerce boom. The proliferation of digital technologies across industries has driven enhanced efficiencies and promises to transform the Reverse Logistics processes . After all, the increasing fastidiousness of consumers means that they would settle for nothing but hassle-free return policies that exude ...

Reverse Logistics is not a new phenomenon – it has been an integral part of retailing for over a hundred years now. However, it was only in recent years that Reverse Logistics came more into prominence with the e-commerce boom and it has emerged as a key component of any successful, streamlined supply chain. In present times, consumers expect no-fuss return policies, which perhaps explain why returns on e-commerce orders are three to four times more than brick-and-mortar purchases. Evolving customer expectations meant that no-fuss return policies were the sole objective of consumers, who would not settle for anything other than a hassle-free return policy. According to a study conducted by the Reverse Logistics Association, e-commerce order returns are three to four times more than brick-and-mortar purchases. These findings clearly indicate that there is heightened Reverse Logistics activity within the e-commerce space.   Reverse Logistics is assuming increasing importance...