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Even with a continuing global pandemic, 2021 turned out to be an excellent year for many retailers. The National Retail Foundation reports that holiday sales hit a record $886.7 billion in 2021, a 14.1% jump from the prior year.

Despite rising inflation, labor shortages, supply chain issues, and the new omicron variant, consumers continued to spend money at record rates and businesses delivered. But many consumers are also returning items post-holiday, which poses challenges for many businesses. When approached correctly, here is how holiday returns can actually benefit your supply chain and business.

Without sound reverse logistics management, your business might be harboring hidden costs and many uncertainties that threaten long-term success. Every business has to deal with returns. But treating them as an afterthought is not the best approach. Here is what you need to know about the high cost of reverse logistics and how your business can better maximize its results.

Returns policies and the handling of returns are vital concerns for online retailers. No business likes to sell something and have it come back from the consumer. The cost of processing returns in terms of resources and staffing can be significant. But how you handle eCommerce returns can impact your overall business results.

Here is why you should make your returns process a priority and some best practices for handling internet returns.

If you sell goods online, you know that stuff comes back at a predictable rate. People make mistakes when ordering, find that something doesn’t suit their needs, or get a product in the mail with some type of defect. You might have perfected your logistics process, but what happens when items need to move in the opposite direction?

eCommerce has revolutionized the way we shop and get products into the hands of customers. The COVID-19 pandemic has accelerated the growth of online shopping as many consumers turn to eCommerce for daily needs like groceries and other items such as clothing. In fact, U.S. eCommerce sales are projected to reach $1 trillion for the first time in 2022 and account for over 20% of retail sales by 2024.

Costs associated with the supply chain process have always been a concern for businesses. But those aspects of business results are magnified when the supply chain is suddenly rife with trouble.

If you’re in the business of moving products from Point A to Point B, logistics matter. Being able to efficiently fulfill the needs of your target audience is directly related to your ultimate business success.

For many organizations, handling reverse logistics can be challenging. If you think about it, most supply chains are created to get products from point A to point B, not bring them back in the other direction.

Online ordering has made shopping so simple that customers expect an equally hassle-free returns process. While product returns might be one of the costs of doing business, how you handle the 5 Rs of reverse logistics can impact how much this process will affect your company’s overall results.