Narvar, the original customer engagement post-purchase platform, and Cycleon, the industry-leading returns management provider, today announced their strategic partnership to create a full-service global returns solution for retailers. This partnership makes it easy for brands to seamlessly centralize their entire reverse logistics engine from elegant customer experience, to reduced shipping rates and item consolidation, to value recovery — all powered by data & intelligence.
Consumers expect a convenient returns process and speedy refunds from retailers, which can turn a first-time customer into a loyal one. In fact, 76% of new customers say that a great returns experience is a critical factor in deciding whether they will shop with a retailer again, making it imperative that retailers focus on the post-purchase journey to drive retention and yield higher-value customers.
However, meeting these expectations can be costly, especially as the shift towards ecommerce accelerates. While the average return rate for in-store purchases is about 8%, for online purchases it’s 20-30% depending on product category, equating to $428B last year. For brands trading globally, whether big or small, international returns add another complication. Retailers must find as much operational and cost efficiency as possible in returns to mitigate some of these costs and maintain the value of the returns experience to drive loyalty.
Consumers are also increasingly focused on sustainability, choosing to do business with companies that share those values. The combination of Narvar’s intelligent rules engine plus Cycleon’s network of 30 distribution centers placed strategically around the globe creates a sophisticated routing automation capability, saving carbon footprint and reducing time to process returns and refunds.
“Narvar and Cycleon are a great match, with complementary capabilities, many mutual customers, and a shared vision to help retailers solve reverse logistics,” said Jelle Schoenmaker, EVP After Market Services & General Manager at Cycleon. “We’re excited to integrate Narvar’s market-leading front-end experience and data & intelligence with our operational expertise to deliver a comprehensive service.”
“Returns are an integral part of the retail journey, and will only increase as ecommerce accelerates. Retailers have been valiantly grappling with the challenges of balancing consumer expectations with operational efficiency,” said Amit Sharma, founder & CEO of Narvar. “We’re thrilled to partner with Cycleon to support those efforts with a flexible and sustainable one-stop returns solution.”
