WASHINGTON and SAN FRANCISCO, May 05, 2020 (GLOBE NEWSWIRE) — Optoro, the leader in returns technology, announced a strategic partnership with Returnly, the leader in digital return experiences and post purchase payments. Optoro will integrate Returnly’s customer-facing ecommerce returns technology into its broader returns platform to now offer the first end-to-end returns solution for retailers and brands, at a time where they need tools to boost revenue and cut costs. This new bundled returns solution directly addresses the need for better online consumer returns experiences and more efficient returns management in response to the shift to ecommerce during COVID-19 store closures.
With Returnly’s consumer returns portal, retailers can ensure the entire ecommerce experience — including initiating returns online — is seamless for consumers. Online purchases often have triple the return rate of physical retail, and providing a good returns experience for ecommerce is crucial for customer loyalty: 89% of consumers are less likely to shop at a retailer following a bad returns experience. Returnly’s consumer portal integrates directly into Optoro’s broader returns platform, which helps minimize costs and maximize resale during the anticipated surge of online returns due to the spike in ecommerce sales.
“In today’s climate, ecommerce plays a more important role than ever, and with ecommerce comes a higher rate of returns,” said Optoro co-founder and president Adam Vitarello. “In response, retailers must focus on making returns easy for customers and better for their bottom line. Optoro now offers the most complete returns solution from customer initiation to returns management to resale across all available channels, thereby helping retailers lean into returns as a key differentiator during these challenging times.”
By partnering with Returnly, Optoro now provides a complete solution to address the entire returns lifecycle for both consumers and retailers. Features include:
- Returns Experience & Instant Credit – Personalized, self-serve online returns experience for consumers and Instant Credit solution where Returnly places orders made with credit on behalf of the shopper once the return is initiated and takes the product return risk. This means customers can get the right item even before returning the wrong one.
- Returns Management – Streamlined returns processing, routing, and visibility, with the flexibility to deploy in-house or fully outsource through the Optoro returns network.
- Recommerce – Integrated direct-to-consumer and business-to-business resale channels to unlock maximum value on returned items and offer liquidity on returned and excess inventory.
“Now more than ever, product returns are a source of stress for both consumers and merchants,” said Eduardo Vilar, founder and CEO of Returnly. “Increased support volume and slower transit times are only compounding already high-pressure situations. By partnering with Optoro, we’re able to help more retailers ensure a seamless, positive return experience, quickly getting products into the hands of online customers while enabling the most cost effective ways to process returns.”
Already, both companies have worked with retailers and brands to modernize outdated returns processes. Optoro works with retailers and brands including Best Buy, IKEA, Target and Jet.com. Returnly’s current client base features many direct-to-consumer and modern brands such as Everlane, Outdoor Voices, and UNTUCKit. Plow & Hearth, a leading retailer of products for home, yard and garden, is one of the first retailers who will benefit from the new joint solution.
“Often the returns part of the customer journey is overlooked, but we’re dedicated to delivering a great returns experience to our customers,” said Leslie Newton, CEO of Plow & Hearth. “Optoro is offering us the opportunity to be best-in-class in this area, while at the same time streamlining the product’s movement back to shelf for sale or disposition. The team has been a great partner thus far and we look forward to a long relationship.”
Optoro is the leading provider of returns technology for retailers and brands, using data and real-time decision making to make returns better for customers, retailers, and the planet. From an easy online customer returns portal, to warehouse processing and resale, Optoro offers one unified platform to improve outcomes across all points in the returns process. Retailers and brands — including Best Buy, Ikea, Target, and Staples — trust Optoro’s solution to make returns a strategic advantage for their business and enable sustainability initiatives across their supply chain. Learn more about Optoro’s solutions at www.optoro.com.
Returnly is the leading provider of digital return experiences for direct-to-consumer brands. Returnly is the only return solution that lets customers get the right item before returning the wrong one. The result is a world-class shopping experience with an average consumer satisfaction score (CSAT) of 91%. Returnly has also developed a turn-key solution around its financial technology that includes returns management tools as well as hosted and fully brandable end-customer touchpoints like package tracking, online returns and exchanges and Green Returns. To learn more about Returnly’s solutions, please visit www.returnly.com