Sustainable circular commerce
The new era of commerce is circular
Welcome to the future of retail – a circular economy where sustainability meets customer satisfaction.
The traditional retail model generates massive waste in the EU each year, with billions of euros worth of goods discarded due to clothing and home electronics returns. Enter the new era with Reclaimit, your partner in transforming retail.
Benefits of Reclaimit’s circular commerce strategy:
- Promote sustainable returns and circular shopping behaviours among your customers.
- Use return data to improve product descriptions and minimise return rates.
- Offer more environmentally friendly logistics options.
- Transform returns into reselling through marketplaces.
- Extend product lifespan with quick access to repairs.
Why the non-returners are bad for your business
30% of online orders are returned because the item does not meet expectations. Non-returners might not communicate issues with product descriptions. Outdated or inaccurate descriptions could persist, leading to more returns from other customers.
According to statistics, 42%* avoid returns because the return process is too complicated. Lack of data from non-returning customers may lead to ineffective marketing campaigns. Sending offers without understanding customers’ preferences can result in wasted resources.
*Reclaimit State of Returns 2022
With data-driven insights into why customers return, you can improve product recommendations and minimise the return rate of ‘unnecessary’ returns.
Combat 80% of climate impact in textile production by prioritising the extension of the lifespan of manufactured textiles; returning items is always a more sustainable choice than leaving them unused.
Each return is a chance to improve. Without returns, the opportunity to transition to a circular economy, where products are reused, is missed.
Why circular commerce
Extend product lifespan
Most people want to repair items
According to Reclaimit’s State of Returns report, consumers prefer repairing goods, with 60% favouring warranty-based repairs over buying new items.
Cost savings for consumers
Highlight potential savings with refurbished or pre-owned items, promoting affordability without compromising quality.
Circular shopping and sustainable returns
Reclaimit helps retailers shift towards circular shopping and sustainable returns where products are exchanged, repaired, reused, and resold instead of discarded. Give your products a longer lifetime, build your bottom line, and minimise your carbon footprint.
Let’s make returns smarter:
- Promote sustainable return behaviour through campaigns.
- Address inefficiencies in your reverse logistics with operational data.
- Segment customers and strengthen the return policy for abusers.
- With a 30% return rate, save 70% on shipping labels with QR codes.
- Implement repair and reselling strategies.
For a more sustainable and profitable future
The increasing regulations surrounding refurbishment, returns, and service, particularly the EU’s ‘right to repair’, are initially directed at producers but have significant implications for retailers.
Retail companies must establish efficient processes to manage repairs, with a mandate to prioritise repairs over replacements for economic efficiency.
In the coming years, the anticipated EU digital product passport will revolutionise product tracking throughout its life cycle, supporting traceability, repairs, and reuse.
This innovation, exemplified by our partnership with the Norwegian Consumer Electronics Trade Foundation, facilitates full circularity and traceability for white goods and screens in Norway, offering consumers transparency and assurance when buying and selling used goods.