As businesses fight to conserve cash flow and simultaneously improve the consumer experience, returns solution provider Optoro said it has partnered with Returnly. By expanding the service into an end-to-end returns solution, Optoro is targeting the retailers now dealing with more e-commerce orders.
The company reports that online purchases often have three-times the return rate of purchases made in-store. For businesses newly operating a direct-to-consumer channel, there may not be a comprehensive returns system in place. This can trip up new e-commerce sellers before they get going; 89% of consumers are less likely to shop at a retailer following a bad returns experience, reported Optoro.
“In today’s climate, e-commerce plays a more important role than ever, and with e-commerce comes a higher rate of returns,” said Adam Vitarello, co-founder and president at Optoro. “In response, retailers must focus on making returns easy for customers and better for their bottom line.”
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With the new “bundled returns solution,” Optoro customers will gain access to Returnly’s consumer returns portal as part of Optoro’s broader platform. That enables a personalized, self-serve online returns experience for shoppers and also offers them instant credit as soon as the return is initiated; Returnly takes the product return risk, not the merchant.
This consumer-facing component supports Optoro’s back-end returns network, which gives retailers visibility into the returns process at each stage. For businesses that are particularly vulnerable to the lost revenue involved with returns right now, the “Recommerce” feature provides integrated DTC and B2B resale channels, which can increase liquidity on returned and excess inventory.
“Now more than ever, product returns are a source of stress for both consumers and merchants,” said Eduardo Vilar, founder and CEO of Returnly. “Increased support volume and slower transit times are only compounding already high-pressure situations.”
Optoro customers include Target and Jet.com; Returnly works with many DTC and modern brands such as Everlane and Outdoor Voices.