The holiday season is a time of giving and receiving; UPS alone is anticipating delivering about 750 million packages. However, if you work in retail, it is also the unenviable time of mass returns and exchanges. According to the 2017 Consumer Returns in the Retail Industry report, “Total merchandise returns account for more than $351 billion in lost sales for US retailers.”
With the rise of online sales, more and more retailers are striving to meet shifting customer expectations. Consider that 45% of consumers have abandoned a basket on a retailer’s website because of unsatisfactory or limited delivery options, according to a MetaPack survey.
No wonder retailers are shaking up their distribution networks and looking for more options.
The world of e-commerce is about to change completely. The United States has indicated intent to withdraw from the Universal Postal Union due to the way the global inter-economy postal tariffs work. These have distorted postal rates so it is cheaper today to ship from China to parts of the US, than within the US itself. This is about to change now, and will redefine competition and competitiveness in e-commerce.
As supply chain professionals we always look forward to joining the conversation happening about supply chain’s evolution and this is why we were excited about attending the Supply Chain & Logistics Summit & Expo in Barcelona and the Chicago 3PL Summit. During the events, we had numerous conversations with supply chain professionals, listened to inspiring presenters talk about their supply chain innovations and enjoyed the informal program with great networking events.