End-to-end returns management platform ReverseLogix on Wednesday (June 8) partnered with B2B reCommerce marketplace B-Stock to streamline the product return process, according to a joint press release.
“In today’s eCommerce-driven world, returns management is critical to improving profitability and delivering a superior customer experience,” said Gaurav Saran, CEO of ReverseLogix, in the announcement.
“From providing a totally self-service returns initiation to streamlining returns processing in the warehouse, to after-sales care and resale, the ReverseLogix RMS directly addresses the need for better consumer returns experiences and more efficient returns management operations,” he said.
Global eCommerce sales are estimated to exceed $7 trillion by 2025, according to Statista, making reverse logistics technology a significant opportunity for organizations as part of their customer experience after the initial point of sale.
“As a two-sided marketplace, B-Stock provides business value to the world’s largest retailers and manufacturers by allowing them to outsource their returns process to B-Stock to drive high recovery, and operational efficiency, at a fraction of the cost it would require managing the process internally,” said Sean Cleland, vice president, sales and partnerships, in the company press release.
“In addition to the value to large sellers, B-Stock empowers the entrepreneurs of commerce in the form of the growing number of medium to small businesses who bid and buy on B-Stock to secure the inventory they need for their resell businesses,” he said. “B-Stock’s platform and reCommerce expertise, combined with ReverseLogix returns management software, provides an innovative approach to optimize the entire returns process.”
Read more: DHL Supply Chain Teams with ReverseLogix on eCommerce Return Services
In February, DHL Supply Chain, the contract logistics company within Deutsche Post DHL Group, selected ReverseLogix to help it manage eCommerce returns.
ReverseLogix provides end-to-end returns management systems for business-to-consumer (B2C) and business-to-business (B2B) needs. The company will provide customers with a suite of eCommerce solutions to connect the returns system, letting companies streamline requests, logistics, inventory and processing. DHL wants to use this to help customers’ various requirements and needs.
Return rates were up 78% to more than $761 billion in 2021, according to the National Retail Federation.