With ecommerce growing rapidly, it’s important that reverse logistic solutions are in place and run as efficiently as possible. In 2016, this study found that 8.89% of goods bought in stores come back as returns, and 30% of goods online are returns. That totals to $260 billion spent on reverse logistics.
The high cost is due to an imperfect system in place for nearly all retailers. Business must react to returns rather than anticipate sales, which is the opposite of what they are use to doing.
Companies are searching for ways to improve and streamline the returns process without inconveniencing their customers. There is plenty of room for improvement and innovation left to do in the field of reverse logistics.