SAN FRANCISCO and UTRECHT, Netherlands, Feb. 24, 2021 /PRNewswire/ -- Narvar, the original customer engagement post-purchase platform, and Cycleon, the industry-leading returns management provider, today announced their strategic partnership to create a full-service global returns solution for retailers. This partnership makes it easy for brands to seamlessly centralize their entire reverse logistics engine from elegant customer experience, to reduced shipping rates and item consolidation, to value recovery — all powered by data & intelligence.
Consumers expect a convenient returns process and speedy refunds from retailers, which can turn a first-time customer into a loyal one. In fact, 76% of new customers say that a great returns experience is a critical factor in deciding whether they will shop with a retailer again, making it imperative that retailers focus on the post-purchase journey to drive retention and yield higher-value customers.
However, meeting these expectations can be costly, especially as the shift towards ecommerce accelerates. While the average return rate for in-store purchases is about 8%, for online purchases it's 20-30% depending on product category, equating to $428B last year. For brands trading globally, whether big or small, international returns add another complication. Retailers must find as much operational and cost efficiency as possible in returns to mitigate some of these costs and maintain the value of the returns experience to drive loyalty.
Consumers are also increasingly focused on sustainability, choosing to do business with companies that share those values. The combination of Narvar's intelligent rules engine plus Cycleon's network of 30 distribution centers placed strategically around the globe creates a sophisticated routing automation capability, saving carbon footprint and reducing time to process returns and refunds.
"Narvar and Cycleon are a great match, with complementary capabilities, many mutual customers, and a shared vision to help retailers solve reverse logistics," said Jelle Schoenmaker, EVP After Market Services & General Manager at Cycleon. "We're excited to integrate Narvar's market-leading front-end experience and data & intelligence with our operational expertise to deliver a comprehensive service."
"Returns are an integral part of the retail journey, and will only increase as ecommerce accelerates. Retailers have been valiantly grappling with the challenges of balancing consumer expectations with operational efficiency," said Amit Sharma, founder & CEO of Narvar. "We're thrilled to partner with Cycleon to support those efforts with a flexible and sustainable one-stop returns solution."
Narvar is an intelligent customer experience platform that helps commerce companies simplify the everyday lives of consumers. Serving over 800+retailers globally including Sephora, Patagonia, Levi's, Bose, Warby Parker, Home Depot, LVMH, and L'Oréal, Narvar ensures every touchpoint along the consumer purchase journey engages consumers and enables emotional connections—from pre-purchase to in-store experiences and beyond. With customizable customer messaging and tailored interfaces driven by unparalleled data intelligence, Narvar empowers commerce brands to turn every touchpoint into an opportunity. For more information, visit narvar.com.
Cycleon (part of the Reverse Logistics Group) are experts in product returns management. Their global platform and logistics network optimizes returns each step of the way. Cycleon provides seamless return experiences for both retailers and consumers, and strives to reduce the environmental impact and cost of reverse logistics. Active in 80+ countries, and with 200+ partners, Cycleon provides returns solutions for leading brands in ecommerce, both fashion & apparel and electronics. For more information visit cycleon.com.
SOURCE Narvar; Cycleon