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Returns Reimagined: How Tech Can Help

Retail TouchPoints

As stores try to balance protecting profit margins while delivering a unified customer experience, the escalating cost of returns has reached a breaking point. returns reached a staggering $743 billion in 2023, representing over 14.5% As a result of this burgeoning problem, retailers have started to incorporate return fees.

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Oroton trebles profit after rigorous cost-control measures

Inside Retail

Luxury fashion retailer Oroton Group says its profit more than tripled on the back of higher sales and stricter cost and inventory management in FY23. The company booked a net profit of $8.2 million in the 12 months ended July 30, up 3.5 times from last year.

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Excess Inventory: The Losers And Wieners

Retail TouchPoints

Every business has to manage excess capacity and/or inventory: restaurants have excess food and empty tables; hotels and homeowners have vacant rooms; retailers have overstock and returns. In March, apparel sales dropped by more than 50%, and now those retailers are sitting on two seasons’ worth of clothing.

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Returns Management is essential for a positive customer experience

I Vend

iVend Retail Management Suite iVend’s retail technology helps retailers in returns management. Check out our flexible POS, loyalty program and inventory visibility systems. Learn more After the crazy busyness of the holiday shopping season comes…the crazy busyness of the returns season.

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Meet Nakedvice, the brand founded by best friends in the Sportsgirl stockroom

Inside Retail

billion apparel industry in Australia. Despite a slight dip in 2020, the global apparel market is set to grow to about US$2 trillion by 2028, from US$1.79 Locally, women’s apparel represents the largest segment with an estimated market volume of US$11.86 billion; the men’s apparel market is about half of that, worth US$6.35

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Fashion and retail are ripe for disruption: The promise of generative AI 

Inside Retail

A $275 billion dollar windfall In the next three to five years, generative AI could add $150 billion, conservatively, and up to $275 billion to the apparel, fashion, and luxury sectors’ operating profits, according to McKinsey & Co research. It has so far had little experience with generative AI – but that could soon change.

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How global beauty brands will benefit from JD.com’s latest logistics move

Inside Retail

This collaboration results in an enriched suite of logistics and supply chain services, encompassing not just warehousing and inventory management, but also comprehensive transportation and last-mile delivery solutions,” he added. Focusing on beauty and apparel Initially, the partnership will focus on the beauty and apparel segments.