Loop Returns is a company that helps online retailers process returns easily, currently they are working with e-commerce stores on Shopify platform. Loop Returns main goal is to save the revenue of sellers by reducing the amount of returned money by 30% and saving 50% of the revenue that retailers would lose by just returning the money for each return request. The integration with Loop Returns platform automatically creates a special section on the store's website for returns, allowing customers to initiate the return process without sending requests to the sellers for manual processing.
The startup currently works with Shopify stores and claims that it can reduce the amount of money returned by 30% and save 50% of revenue that would be lost by simply issuing refunds. The startup has recently raised 50 million dollars in funding, bringing its total funding to $125.5 million.
A startup that aims to automate the process of handling returns for online retailers in order to reduce costs and increase customer satisfaction. The startup uses QR codes and FedEx to make the return process easy for customers, and in the process, it aims to convert returns into new purchases. The article also highlights that returns are a significant problem for retailers and make up 21% of their revenue. It is predicted that more startups will emerge to tackle this issue as it is a huge market that represents a fifth of the e-commerce market.
A startup that aims to automate the process of handling returns for online retailers in order to reduce costs and increase customer satisfaction. The startup uses QR codes and FedEx to make the return process easy for customers, and in the process, it aims to convert returns into new purchases. The article also highlights that returns are a significant problem for retailers and make up 21% of their revenue. It is predicted that more startups will emerge to tackle this issue as it is a huge market that represents a fifth of the e-commerce market.
The article discusses the market for returns of goods purchased online. It notes that many online retailers struggle with managing returns and the associated costs. The article introduces an IT startup that aims to automate the process of returns to reduce costs and increase efficiency. The startup also aims to convert returns into new purchases. The article notes that returns represent a significant market, accounting for 21% of retailers' revenue. The startup's solution is to create a technology platform that does not require physical infrastructure and can handle logistics.