Small retailers are prioritising sustainability to recover returns losses

Posted under: MSME
Date: 2023-11-08
Small retailers are prioritising sustainability to recover returns losses

According to a survey by Software Advice, small and midsize (SMB) retailers believe that implementing sustainability into returns processes is critical for recouping costs and customers. Improved returns processes have led to benefits in customer satisfaction, cost optimisation, and increased brand competitiveness for respondents. A significant 93% of SMBs prioritise sustainability when managing customer returns, and 58% say inventory cost optimisation is a benefit of their current returns process. Smaller retailers are increasingly recognizing that returned products, if triaged appropriately, can be resold or recycled, reducing waste and recovering some lost sales.