Advanced Supply Chain Group has launched ReStore, which aims to help bring down the cost of preventable product returns which a leading retail analyst said cost retailers more than £400 billion worldwide every year.
During trials the ReStore service was used by a major retailer to process a batch of returned merchandise worth £80,000. The retailer invested £20,000 in restoring the returned stock to a full retail value of £350,000.
Ben Balfour, ASCG’s Commercial Director, said: “Retailers are focused on driving revenues up and increasing their sales figures year on year. We are looking to educate them that by not revisiting their ‘lost’ stock, they are haemorrhaging profits and making their business much less successful.
“All too often customers return items in a condition that renders them unfit for resale, leaving retailers with a stark choice - refuse the return and risk damaging customer relations, or write down the value of the stock - often significantly. With ReStore, we are giving retailers a third option. ”
He said often garments only need a refresh suing steam and re-bagging, while some may need spot cleaning to remove makeup marks or perfume smells.
The launch of the ReStore service has been covered in the press, to see the articles please click here and here.