Pitney Bowes has announced a collaboration with PackageHub to enhance its returns network, which is already integrated into 30,000 postal locations for no-label returns. This expansion is part of Pitney Bowes’ strategy to reduce the cost of product returns and improve customer experience, according to Gregg Zegras, EVP and President of Global Ecommerce at Pitney Bowes. The move comes as a response to the increasing costs associated with returns, which have become a significant concern for shippers, prompting various measures to mitigate financial impacts.
The issue of returns costs is particularly relevant given the surge in online shopping, especially during the holiday season, as noted by Zegras. The collaboration between Pitney Bowes and PackageHub is timely, considering the significant volume of product returns following the holiday period. Research from the National Retail Federation and Appriss Retail suggests that out of an estimated $966 billion in U.S. holiday sales, around $148 billion worth of merchandise is expected to be returned.
The PackageHub network offers no-box returns, which could potentially reduce the occurrence of incorrect or invalid returns. This aspect is crucial as companies faced approximately $101 billion in losses due to returns abuse and fraud last year, according to research from the NRF and Appriss Retail.
Other delivery providers are also enhancing their returns services. For instance, UPS acquired Happy Returns last year, aiming to offer a consolidated returns service for large retail customers. This service includes sorting and palletizing products for bulk shipping. Similarly, FedEx has introduced a consolidated returns service, reflecting a broader industry trend towards more efficient and cost-effective return solutions.
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