Optoro Expands Returns Management Software Solutions to New Channels: Stores and Locker Drop-offs
WASHINGTON, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Optoro, Inc., the leading technology provider for retail returns, today unveiled its latest omnichannel solutions: Optoro Stores & Lockers. Retailers using Optoro’s returns management system (RMS) can now streamline the in-store and locker-drop-off returns experience, leveraging inventory dispositioning and omnichannel returns data to take the guesswork out of returns processing and improve profitability — all while providing a frictionless customer experience.
A boom in ecommerce – up 50% since 2018 – has led to a dramatic rise in returns. In 2023, $743 billion in merchandise was returned in the United States alone. In-store returns are popular, even with items bought online — half of online returns are BORIS.
BORIS has historically been a challenge for retailers: inventory assortments can differ by channel, and associates are often unsure what to do with returned inventory. This not only adds friction to the shopper experience, triggering long wait times, but often regulates returns to a low-financial-recovery outcome, such as a clearance bin or dark corner in the stockroom.
“Today’s shoppers have sky-high expectations when it comes to returns,” said Amena Ali, chief executive officer at Optoro. “There is a critical need for retailers to optimize the in-store experience to drive valuable foot traffic, generate deeper loyalty, and spur repeat engagement. At the same time, store managers need to deal with returned inventory while ensuring that store associates are focused on serving customers. By introducing Optoro Stores, we’re proud to arm associates with the data-driven tools to create exemplary experiences, all while improving retailers’ bottom line.”
Optoro Stores gives shoppers and associates a friction-free experience for in-store returns:
- Shoppers can initiate a return online and generate a QR code
- Shoppers can bring in a return to a convenient location without a box or label for associates to process
- With a simple QR code scan, associates can quickly accept the return and are shown a clear set of instructions on what to do next with returns, whether that be putting it back into stock at that location, routing to a distribution center with other returns, or recycling or donating damaged items
- The process is quicker than traditional in-store returns, and shoppers receive their refund immediately
Solving the in-store omnichannel returns puzzle is a significant business opportunity for retailers:
- Improve profitability: Retailers save labor and transportation costs with a seamless, efficient process for store associates that takes out the guesswork of what to do with returns
- Boost loyalty and new sales: In-store associates are freed up to spend more time delighting customers, driving sales and loyalty; shoppers are freed from long lines to spend their time shopping
- Gather insights: Retailers will capture more valuable data around the return reason, without having to ask awkward questions of the shopper, allowing them to address any issues with sizing, quality, or the supply chain. They also can make smarter inventory planning decisions with real-time insight into goods being routed to distribution centers for resale online
- Increase foot traffic: Use in-store returns as a means to drive additional foot traffic and repeat engagement
Optoro also announced an additional expansion of its Express Returns® options to include locker drop-offs. Participating retailers can now activate smart lockers as an additional drop-off option for their shoppers in select markets. 35% of shoppers struggle to find time to make a return and 32% blame inconvenient returns options for delays. Powered by Parcel Pending smart locker systems, Express Returns Lockers offer another convenient option for box-free, label-free drop-offs and instant refunds. Shoppers simply initiate a return online, and select the locker option. When they arrive at the locker they scan a QR code and place the item in the indicated locker and receive a refund or credit.
“Creating a convenient and efficient returns experience is top of mind for our team as well as our customers,” says Samantha Mandel from HATCH Collection. “Optionality is critical to getting merchandise back faster, and being able to relist that item for the next shopper. Optoro’s software has streamlined our returns management and helped us create a brag-worthy experience for our customers. Additionally, it has allowed our team to analyze data to improve the customer experience and inventory offerings better than other returns platforms we have utilized previously.”
Optoro Stores and Lockers are the latest additions to Optoro’s all-in-one returns platform which has processed more than 200 million returns. Optoro is the only solution in the market that spans the entire returns lifecycle from return initiation, to restock, and resale channels, all powered by Optoro’s SmartDisposition® technology. Leading retailers, brands and third-party logistics (3PL) providers have chosen Optoro’s platform to minimize costs and enhance the customer experience with returns.
About Optoro
Optoro software is revolutionizing the retail industry with cutting-edge returns solutions for retailers, brands and third-party logistics providers (3PLs). Optoro’s modular Return Management System (RMS) orchestrates and streamlines return processes from returns initiation to the next customer, helping businesses maximize savings and revenue from every return while maintaining industry-leading customer satisfaction rates and enabling circularity. Optoro’s Returns Portal and Express Returns® network enhance shopper convenience, reduce returns costs, and increase repurchase rates. Optoro’s Returns Processing software utilizes data and AI to reduce speed-to-stock times, eliminating backlogs. Trusted by the world’s leading retail brands like Gap, American Eagle Outfitters, Steve Madden, and Best Buy, Optoro is the preferred choice for turning returns into a strategic advantage.
Contact
LaunchSquad for Optoro
optoro@launchsquad.com
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