Returns are a fact of ecommerce (especially during peak seasons), even if you don’t want them to be—but they don’t have to be a headache. The reverse supply chain is constantly evolving, and new solutions like recommerce turn this problem into an opportunity.
You may be wondering, what is recommerce? As the leading full-service recommerce partner, Nok is the undisputed expert, so we’ll let them take over from here to give you the scoop on one of the latest trends in ecommerce and how it can help your business...
As we move further into 2024, one of the hottest trends in ecommerce is the rise of sustainability and recommerce. Unlike last year, there have been major advancements and wider adoption of AI as well as more robust data analytics and transparency that are facilitating easier implementation of recommerce solutions from return origin through final disposition (or transaction).
What is recommerce?
Recommerce, short for “reverse commerce,” is buying and selling previously owned goods and products. As consumer expectations increasingly include convenient return policies, there's a parallel rise in demand for repurposed and resold goods within secondary markets. Instead of relinquishing brand control to unauthorized or third-party resellers within resale channels, brands stand to benefit more by reclaiming control and maximizing the advantages of these items—i.e., selling their own second-hand merchandise instead of letting it end up in thrift stores, or worse, landfills.
Recommerce reflects a growing consumer demand for eco-friendly, cost-conscious practices and responsible resource management. This trend not only helps brands build trust and loyalty with consumers, but also opens new revenue streams and promotes responsible consumption. It also empowers brands to sidestep delays in returns management and processing, refunds, and replacements while guaranteeing that these items traverse the reverse supply chain efficiently, without becoming a financial burden.
What are the benefits of recommerce, especially during demand surges?
A major result of holiday and viral demand surges is the inevitable uptick in returns, which can significantly impact a brand's operations and bottom line. To prepare for these surges effectively, brands can mitigate the challenges associated with returns by working with an established recommerce partner that has established integrations and advanced data infrastructure across the wider reverse supply chain. Such partners possess the necessary capabilities, resources, and expertise to handle the influx of returns efficiently, thereby averting chaos and maintaining customer satisfaction.
How can brands get started with recommerce?
Partnering with a reputable recommerce platform allows brands to efficiently manage returns, offer sustainable and affordable product options, and meet the growing demand of eco-conscious and cost-conscious consumers. Leveraging their streamlined processes and advanced technologies enables brands to focus on core operations while ensuring a seamless return experience for customers. Additionally, utilizing vetted resale channels through a trusted partner helps protect brand integrity, ensuring quality control and maintaining customer trust across all resale activities.
Expand Your Ecommerce Capabilities with Nok and Extensiv
Scaling your processes—for example, during peak seasons—is no doubt challenging, putting your bandwidth and adaptability to the test. But higher order volumes also make it easier to test different workflows, opening the perfect window to experiment with the industry’s newest innovative solutions like recommerce.
Interested in learning more about how Nok can revolutionize your reverse logistics strategy with Extensiv as your ecommerce mission control? Request a demo from Nok today, and explore Extensiv’s vast (and growing) partner ecosystem to see how they can expand your ecommerce capabilities with Extensiv's solutions for brands.
About Our Partner: Nok
Nok powers returns, reverse logistics, and multi-channel resale across D2C and retail channels as the full-service recommerce partner. They transform returns into opportunities by driving circularity for brands through their interconnected suite of facilities, services, and technology—including delivering real-time, full lifecycle data analytics and insights to improve decision-making across the reverse supply chain.
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