High levels of returns can impact the overall performance of retailers. And there are many reasons why returns continue to present such a complex challenge for the entire industry. But without understanding these challenges, it’ll be impossible to find a solution. In this episode of the Retail Transformation Show podcast, the host and retail consultant, Oliver Banks, explores the returns conundrum facing retail. Plus, pick up an action plan to help you monitor, control and manage the challenge.
So, listen to this episode and you’ll hear:
- What characteristics make returns hard for supply chains and reverse logistics.
- Why Stitchfix are the benchmark for returns – and what they are doing minimise the impact of returns.
- 3 new smart ways to overcome retail’s return problem.
Reach out to Oliver Banks via email: email@example.com. Or alternatively, reach out to connect on LinkedIn.
Additional episodes of the Retail Transformation Show to listen to
If you enjoyed this episode, then there are plenty of other episodes to listen to next. And here are three relevant episodes to get started.
To begin, check out the conversation with Karen Bendell. In episode 136: Understanding The Circular Economy, Karen explained some of the challenges that go into this crucial consideration. Also, as mentioned in the conversation, we must remember that the retail returns challenge is also part of developing new, cyclical business models.
Next, listen to episode 145: Overcoming Retail’s Big Contradictions. As mentioned in this episode, we touched on retail’s returns issue being a conundrum or contradiction. And in episode 145, dive deeper into retails contradictions to understand what they are and why they’re important. Plus, what you can do to overcome these contradictions.
And finally, check out episode 105: Simplifying Retail Operating Models where Oliver Banks explains how you can go about streamlining your operation and operating model. And this will be important to help simplify the supply chain to best serve your returns journeys.
But also remember there are plenty of other episodes in the Retail Transformation Show podcast archives. So do take a scroll back to previous episodes to those which take your interest most.
Plus, be sure to subscribe to the Retail Transformation Show in your usual podcast app and look out for episode 150, coming on 6th September.