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📈 Inflation Alert! Consumer prices have surged 20.8% since 2020. 😱 As prices rise, smart shoppers are prioritizing necessities, hunting for deals, and doing more research before buying. 🛍️ Retailers are stepping up with detailed product info and flexible return policies to meet the new demand for value and quality. 💡 Embrace the trend: Make informed, deliberate purchases and stretch your dollars further. Win-win for consumers and retailers! 💪💸 #Inflation #SmartShopping #ConsumerBehavior #RetailTrends #FinancialTips For more insights, check out our latest blog post! 📲  https://lnkd.in/eYEJZ6ge

Today, we remember those who sacrificed so we could live in freedom. This Memorial Day, we're thankful for those who gave their lives while serving. And we're thinking of those who have lost someone they love. Thank you for your sacrifice.

In this BBC radio interview, our Director of Brand Marketing and Communications, Fara Alexander delves into the costs and burdens associated with retail returns and why 52% of retailers offer 'keep it' policies. Algorithms safeguard against excessive returners and fraudsters from exploiting these policies to ensure these flexible, customer-centric policies are exclusive for honest, loyal shoppers. While returnless refunds appear more environmentally sustainable by eliminating additional transportation and shipping emissions, it raises the question: what happens to the items that remain with customers who no longer want them? To find out, tune into the segment below (FF to mi. 18)!

With sustainability as part of goTRG’s core values, we are excited to announce our collaboration with SupplyChainBrain on our latest Retail Returns Sustainability Report 2024, featured in the publication’s #ESG May issue, released today. Based on our survey with more than 250 US-based retailers, the data underscores a significant shift towards sustainability in the retail sector's returns processes. Key Findings:  🌎 Environmental Impact: Retail returns are not just a financial burden but also a significant environmental concern generating 16 million metric tons of carbon emissions and contributing to 9.5 billion pounds of landfill waste annually in the U.S.  🛍 Consumer Expectations: An increasing number of consumers (56.4% of survey respondents) expect brands to adopt eco-friendly practices, influencing their purchasing decisions.  📦 Shift in Returns Practices: There's been a notable 9% increase in "buy online, return in store" (BORIS) behaviors, reducing the carbon footprint associated with shipping returns.   🌱 Investment in Sustainability: Retailers are actively investing in enhancing their reverse logistics with 72.8% focusing on sustainable improvements with the majority allocating $1-5 million for returns management, indicating a commitment to sustainability initiatives despite potential cost implications. ♻ Consumer Sentiment: The acceptance of refurbished and second-hand goods is on the rise, indicating a shift towards a circular economy and reducing waste.    As both retailers and consumers prioritize environmental consciousness, the demand for sustainable returns management and reverse logistics service providers is on the rise, presenting vast opportunities for business growth and environmental preservation.    https://lnkd.in/dTB2wTFD     #Retail #Sustainability #ReverseLogistics #ReturnsManagement #goTRG #SupplyChainBrain #EnvironmentalConsciousness #BusinessGrowth #RetailTrends #RetailReturnsSustainabilityReport 

Recently, our CEO Sender Shamiss shared his thoughts on the evolving landscape of retail returns and ‘returnless refunds’ in a discussion with Joe Miller from the Financial Times.  "The cost of returns processing and shipping often outweighs the value of low-cost items, along with the added risk of damage during transit, it's becoming more practical for retailers to allow trusted customers to receive ‘returnless refunds’. This approach is powered by sophisticated algorithms that help to distinguish between excessive returners/fraudsters and honest shoppers. Even with formulas in place to deter returns abuse, such policies remain unsustainable in the long term. Retailers must explore comprehensive returns solutions to safeguard both their financial viability and customer satisfaction." #retailfraud #returnfraud #keepitpolicies #returnlessrefunds #returnsmanagement #reverselogistics #goTRG #solvingreturns    https://lnkd.in/e7Z4Nq25

goTRG is proud to announce that we have won the 2024 Silver Stevie® Award for Most Innovative Company of the Year from the Annual American Business Awards®!     This premiere business accolade recognizes our revolutionary approach to returns management and reverse logistics as pioneers who continue to lead the industry forward. Our innovative returns management solutions have redefined the entire post-purchase experience, turning what was once a cost center into a source of revenue, efficiency, and customer satisfaction. A huge thank you to our dedicated team, partners, and clients who made this possible.     Here’s to continuing to innovate to solve the $743 billion problem of retail returns!     https://lnkd.in/dnJfPnhP     #Innovation #RetailTechnology #StevieAwards #TeamSuccess #goTRG #AmericanBusinessAwards 

America’s culture of consumerism has become exacerbated since the pandemic with the surge of eCommerce and giants like Amazon offering convenience of online shopping—and returns—from anywhere, at anytime with just the tap of a finger or click of a mouse. While Japan’s rate of online returns rests at a low and steady 3%, the United States sees between 20-30% of returns on all eCommerce purchases. This translates to between $224 billion and $336 billion of returned merchandise from online purchases in just the last year alone.  Our latest blog dives into how retailers can solve the problem of eCommerce returns with consumer education initiatives, daily green operational practices, and partnering with a reverse logistics specialist to protect their bottom line and the environment.  https://lnkd.in/eX4B3uDM #eCommerce #Sustainability #ReverseLogistics #ConsumerEducation #GreenOperations #ReCommerce #OnlineShopping #RetailSolutions  #EnvironmentalImpact #goTRG #ThoughtLeadership #ReturnsManagement #RetailInnovations #CircularEconomy #Amazon #Shopify 

NEW RETAIL RETURN FRAUD SURVEY REPORT: Get your copy of goTRG’s Return Fraud Survey Report: Spring 2024 for a deeper look into the retail industry’s $101 billion problem. Given the increasingly escalating issue of returns fraud and abuse, we surveyed over 400 U.S. retailers seeking a comprehensive picture of how this issue is reshaping retailers’ business strategies.     An alarming 68% of retailers reported that return fraud has become a bigger issue for their business in just the last 12 months with a majority of 53% of companies experiencing significant financial losses related to return fraud.     Gain meaningful insights into: - most common return fraud tactics - which return policies are most frequently exploited - various mitigation strategies and technologies implemented by retailers to combat this growing issue - how to stay ahead of increasingly sophisticated fraud schemes    Read our report here: https://lnkd.in/e3s5vUNX      #RetailFraud #ReturnFraud #RetailIndustry #FraudPrevention #RetailStrategy #BusinessInsights #RiskManagement #RetailTechnology #RetailTrends #SupplyChainSecurity #goTRGReport #goTRGSurvey #goTRG 

This Earth Day, we’re excited to offer a preview of what’s blossoming in sustainable returns practices in the retail sector. Our survey, in collaboration with Supply Chain Brain, gathered insights from over 250 U.S. retailers, painting an inspiring picture of the industry’s greener future.    We're seeing a 9% uptick in BORIS returns from the previous year, reflecting a conscious effort to cut carbon emissions. Investments are sprouting too, with 73% of retailers nurturing their reverse supply chains and 41% planting $1-5 million into sustainable returns. Consumer mindsets are growing greener with 49% of retailers reporting a spike in customers choosing second-hand, and the once-prevalent stigma around refurbished goods diminishing.     Stay tuned for the complete goTRG & SCB Sustainability Survey Report, which will be featured in SupplyChainBrain's ESG issue coming out this May. Together, we’re cultivating a sustainable future—one return at a time. Happy Earth Day! 🌎 🌳 🌊 ♻   #EarthDay #Sustainability #RetailInnovation #CircularEconomy #SurveyStatistics #SupplyChainBrain #goTRG #RetailReturns

Earth Day is just around the corner on April 22! We invite you to celebrate sustainability and environmental awareness with us. Together, we can make returns more sustainable by being more conscious consumers. Here, we share some retail and return focused tips on easy ways to make a positive impact. Leave a comment below and share how you plan to make a contribution to the planet this Earth Day!   #EarthDay #Sustainability #Retail #SolvingReturns #goTRG #ReturnsManagement #ReverseLogistics