Narvar and Cycleon have announced their strategic partnership to create a full-service global returns solution for retailers. Narvar is an intelligent customer experience platform that helps commerce companies simplify the everyday lives of consumers. Cycleon provides returns solutions for brands in ecommerce, both fashion and apparel, and electronics.
The partnership makes it easy for brands to seamlessly centralise their entire reverse logistics engine from elegant customer experience, to reduced shipping rates and item consolidation, to value recovery, all powered by data and intelligence, Cycleon said.Narvar and Cycleon have announced their strategic partnership to create a full-service global returns solution for retailers. Narvar is an intelligent customer experience platform that helps commerce companies simplify the everyday lives of consumers. Cycleon provides returns solutions for brands in ecommerce, both fashion and apparel, and electronics.#
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 per cent 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, according to Cycleon.
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 per cent, for online purchases it is 20-30 per cent depending on product category, equating to $428 billion 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, Cycleon said.
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 centres placed strategically around the globe creates a sophisticated routing automation capability, saving carbon footprint and reducing time to process returns and refunds, Cycleon said in a press release.
“Narvar and Cycleon are a great match, with complementary capabilities, many mutual customers, and a shared vision to help retailers solve reverse logistics. We’re excited to integrate Narvar’s market-leading front-end experience and data & intelligence with our operational expertise to deliver a comprehensive service,” Jelle Schoenmaker, EVP for after-market services and general manager at Cycleon said in a statement.
“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. We’re thrilled to partner with Cycleon to support those efforts with a flexible and sustainable one-stop returns solution,” Amit Sharma, founder and CEO of Narvar said.
Fibre2Fashion News Desk (GK)
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