⚠️ No longer a lost cause! What’s previously been considered a margin-crushing line item, returns, is no longer a lost cause. ✨ Transforming returns into revenue for 2024 is possible with these tactics and a thorough understanding of the state of the market. This report uncovers: 📈 Current trends and state of returns with critical research you need to know ❌ Mistakes in tackling returns that leave money on the table 👉🏾 Best practices and recommendations to solve returns challenges 🤖 Latest technology including omnichannel RMS and autonomous robots Excerpt available as a LinkedIn exclusive. Download for free today! #returnsmanagement #returnsmanagementsystem #retailreturns #3pl
Optoro
Software Development
Washington, District of Columbia 9,233 followers
Rethinking Returns
About us
Optoro is a fast-growing SaaS company offering an end-to-end return management system revolutionizing the retail industry. Our mission is to make every return simple and efficient through great technology so that shopping can be easy and sustainable for everyone. Optoro’s returns management system (RMS) is a technology platform for retailers & 3PLs that spans the entire returns lifecycle — from return initiation, RMA creation, return methods, shipping consolidation, dispositioning, and ultimately restock and resale. From a shopper-facing portal with ultra-convenient returns options, to enhanced receiving, dispositioning, and outbound workflows, brands can unlock greater customer satisfaction by optimizing every touchpoint of a return. Founded in 2010, Optoro has continued to see significant year-over-year growth, and is trusted by top retailers and brands such as GAP Inc., American Eagle Outfitters, Tuckernuck, Best Buy, UPS Supply Chain, and more. Optoro has received many awards and industry accolades including CNBC’s Disruptor 50, EY’s Entrepreneur of the Year and the World Economic Forum’s Circular Economy Award, and was named a "Top Workplace" in D.C. by The Washington Post. Most recently, Optoro’s CEO, Amena Ali, was recognized in Forbes 50 Over 50 and Washingtonian’s Tech Titans of 2023.
- Website
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http://optoro.com/
External link for Optoro
- Industry
- Software Development
- Company size
- 201-500 employees
- Headquarters
- Washington, District of Columbia
- Type
- Privately Held
- Founded
- 2010
- Specialties
- Reverse Logistics, Inventory Management, retail, ecommerce, logistics, technology, returns management, retail returns software, retail returns service, returns management software, Supply Chain, and ecommerce
Locations
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Primary
Get directions
1001 G Street NW
Suite 1200
Washington, District of Columbia 20001, US
Employees at Optoro
Updates
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$743B worth of returns made in 2023! That leaves a big dent in your margin. What lies ahead in transforming this cost center line-item to revenue? What are the best practices you can utilize to tackle it? Where do you have to meet shoppers to make it all work out in everyone's best interest? Discover these and more in our 2024 State of Returns Report. Read the excerpt in the article tagged in the comments. The Report also features expert insight from our partners and advisors, Libby Johnson McKee, Locus Robotics, nGROUP, Perficient, and Signifyd. Transforming returns into revenue takes a systemic approach--all outlined in this white paper.
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Join us tomorrow at 1 pm EST to learn how Brooks Running and HATCH Collective are taking customer loyalty to the next level with returns. 🚀
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Returns 🤝 Customer Loyalty Join Brooks Running and HATCH Collective on May 8 at 1 pm EST to explore how they have successfully used returns to drive customer loyalty and revenue. 💰 Register now: https://lnkd.in/eDtHbDHC
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↩️ $750B in goods were returned last year. 🔀 Keeping returns out of landfills is critical. 🔄 Enabling returns & recommerce workflows that are sustainable (and still profitable) requires the right software (hint: an RMS). Thank you to our fearless leader and CEO, Amena Ali, for sharing your thoughts on the Today show and NBC News. So proud of the work we do to help retailers find the next-best-home for #returns. #returnsmanagment
You've heard of e-commerce, now there's recommerce! Thrilled to be on the Today show this week, sharing what happens to goods that don't go back to stock — and you get to see me on TV too! 📺 Thank you NBCUniversal and Vicky Nguyen for featuring Optoro. (Spoiler: $750B in goods were returned last year.) Check the link in my comments to hear how returns are driving #circularity and #recommerce via a #returnsmangementsystem. NBC News
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In many ways, ↩ reverse logistics is “catching up” to ↪ outbound fulfillment, and savvy retailers are beginning to think about returns through the same lens as outbound, including investing in personalizing the returns experience. Erasing the margin-crush 💸 lens that returns have woefully carried means we need to innovate to keep up with what shoppers crave most: convenience. Here are the dials retailers can turn to maximize the 💲 juice from returns. https://lnkd.in/eWcBu2c4
Tailor Made: How Retailers Can Leverage Personalization in the Returns Process
https://www.optoro.com
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🌎 Happy🌍 Earth 🌏 Day! Let's honor our only Earth in action. Particularly in the world of #logistics and #returns, a critical self-assessment of many workflows can result in impactful gains for a greener world. Optoro's contribution couldn't be possible without all the brands who are willing to take this introspective step in assessing their returns management. As summed up in the 2023 Optoro Impact Report, we're proud to have seen over 95% of returned and excess inventory stay out of landfills, diverting over 8M pounds of waste, and eliminating over 43M pounds of CO2 emissions. In this same vein of corporate responsibility, we are proud to support the ACT (American Circular Textiles) bill which is the first major Western Hemisphere trade legislation aimed to boost green trade and manufacturing competitiveness. We join our friends at ThredUp and H&M to name a few in supporting the ACT bill. https://lnkd.in/eUJFBfpQ
Embracing Circularity in Retail: A Path to Sustainability
https://www.optoro.com
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Customer loyalty isn't just about the initial purchase anymore. It's about the entire journey - making the post-purchase experience more important than ever. Join Brooks Running, Returnalyze, and Optoro on May 8th at 1 pm EST to learn how the post-purchase experience impacts customer lifetime value. Don't miss out on these takeaways: 🌟 The impact of post-purchase experiences on customer lifetime value 📈 Strategies to optimize the returns process for enhanced loyalty and retention 🤝 Real-world examples of companies leveraging returns to foster stronger customer relationships 💰 Practical tips for turning returns into opportunities for engagement and upselling Register Now: https://lnkd.in/eDtHbDHC
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"You've just got to show up. It's fundamentally about, are you putting in the work? That's the kind of person you want to be at work." Amena Ali has this advice to impart. She was one of 25 business leaders of color profiled by Washington Business Journal. https://lnkd.in/deN_73rh
Diversity in Business Awards: Amena Ali - Washington Business Journal
bizjournals.com
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Optoro reposted this
Excited to share that I'll be at #GoogleCloudNext '24! Can't wait to explore the latest tech innovations and connect with industry leaders. Particularly eager to dive into advancements in data management, AI, cybersecurity, and more to see how Optoro will shape the future of returns. If you're attending, let's connect and share insights. See you there! #TechForGood #ReturnsTech #RetailTech #supplychaininnovation
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