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How Retailers Can Control Costs Even As Return Rates Climb

Retail TouchPoints

Returns are a cost of doing business for any retailer. In the wake of COVID-19, returns are receiving serious (and necessary) attention for several key reasons: Retailers are spending more processing returns in stores. Returns is just one example.” . In-Store Returns Trending Up, But Not Pouring In.

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Returns: The Hidden Opportunity for Retail

Retail TouchPoints

Returns provide brands and retailers the opportunity to delight their customers. market saw over $400B in returns in 2020. If this dollar value were a proxy for revenues, the returns channel would be the second largest global retailer behind Walmart. That is a significant amount of capital tied up in the returns channel!

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Walmart Offers Free At-Home Pickups for Online Product Returns

Retail TouchPoints

Seeking to minimize customers’ return complexities, Walmart has partnered with FedEx for at-home pickup of unwanted gifts or ill-fitting apparel. Customers can schedule returns via the new Carrier Pickup by FedEx service for products that have been shipped and sold by Walmart.com, using either the website or the Walmart app.

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RetailWire: Should Walmart Reinstate In-Store Returns During A Pandemic?

Retail TouchPoints

Although public health officials say it’s unlikely COVID-19 infections can be spread by surfaces or physical objects, retailers are being cautious about how they handle returned merchandise. They are instituting disinfection processes and quarantine periods that keep those items from returning to stock for a varying number of days.

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Hugo Boss to Roll Out RFID Solution Chainwide

Retail TouchPoints

The premium apparel retailer operates in 128 countries at approximately 6,800 points of sale as well as online in 59 countries. All Hugo Boss stores will be equipped with the Nedap iD Cloud store app, designed to provide fast and regular stock counts, efficient replenishment and smart refill suggestions.

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UPDATE: Target Adds Paid Loyalty Program, Plans 300 New Stores Over Next 10 Years

Retail TouchPoints

Cardmembers will earn an extra 5% off every day on top of other loyalty program deals and will be eligible for no-rush returns (an extra 30 days to return items) and free two -day shipping on hundreds of thousands of items on Target.com. Target also has rechristened its Target RedCard credit card as the Target Circle Card.

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Nordstrom Issues Supplier Mandate for RFID Tagging

Retail TouchPoints

RFID-ticketed products are not yet required for drop-ship suppliers. That includes a large percentage of Nordstrom’s merchandise, such as apparel, accessories, home and gift products, baby gear, shoes and some cosmetics. Products that do not yet require RFID are mostly cosmetics, along with some household products and jewelry.