38 min listen
The Ticking Time Bomb of eCommerce Returns
ratings:
Length:
49 minutes
Released:
Feb 23, 2021
Format:
Podcast episode
Description
Product returns have always been part of the retail equation--and an often high cost of doing business. But over the years, free and easy returns have become a new basis of competition. As e-commerce typically brings with it return and product exchange rates 3-5 times as high as those in brick & mortar stores, the growing penetration of online shopping can create more speed bumps in the customer experience, increasing costs for retailers and real ecological challenges.In this episode we dissect what's driving returns, why it matters and what can be done about it. We speak first with Scot Wingo, founder of Channel Advisor and CEO of Get Spiffy, who along with his podcast co-host Jason "Retail Geek" Goldberg, made "Shippageddon" part of the retail zeitgeist. Soon after "Returnageddon" took center stage. Then we bring on David Sobie, co-founder of Happy Returns, a fast growing company that seeks to make the end-to-end returns process beautiful for shoppers, retailers and the planet. After our interviews we jump into our fun new segment “Remarkable or Forgettable?” where we give our hot takes on a selection of retail headlines, and deem them wow-worthy, best ignored or somewhere in between. This week we talk about Five Below, which apparently didn't get the retail apocalypse memo, and is opening over 170 stores this year, Poshmark's plans to get into the pet resale category, Thrasio and Branded's big capital raise to roll-up Amazon marketplace sellers, Walmart quarterly earnings, Sephora's inclusive incubator program and the strong US retail results for January. Related ReadingThe Ticking Time-bomb of eCommerce Returns Scot Wingo is an entrepreneur who successfully started four startups and exited three (so far):Stingray Software - 1995-1998-sold to Rogue Wave SoftwareAuctionRover.com - 1999-2000- sold to Goto.Com/Overture - now part of Yahoo!ChannelAdvisor - 2001-present - IPO'd in May of 2013 - NYSE: ECOM- Leading software/service business for Fortune 2k selling on eBay as a new channel.Get Spiffy - 2014-present- On-demand car wash and detailing business currently in Raleigh, Charlotte, Atlanta, Los Angeles and DallasSpecialties: Internet and related technologies/business model experience. eBay, Yahoo!, Amazon, Overture, Google and of course, washing cars! David Sobie is CEO & Co-Founder of Happy Returns. Forward-thinking brands like Everlane, Rothy's, and REVOLVE choose Happy Returns. Together, we retain revenue, reduce costs, give shoppers choice, and make their supply chains sustainable—ultimately making returns beautiful for brands, shoppers, and the planet. Before Happy Returns, David served as the Chief Marketing Officer at REVOLVE, leading all online and offline marketing, branding, acquisition and business development. Previously, he led Marketing and Business Development for HauteLook, a flash sale pioneer acquired by Nordstrom, and held senior roles at eBay Motors and others.For more information about Happy Returns' returns software and reverse logistics, visit www.happyreturns.com.Steve Dennis is an advisor, keynote speaker and author on strategic growth and business innovation. You can learn more about Steve on his website. The expanded and revised edition of his bestselling book Remarkable Retail: How To Win & Keep Customers in the Age of Disruption will be released April 13th and is now available for preorder at Amazon or just about anywhere else books are sold. Steve regularly shares his insights in his role as a Forbes senior contributor and on Twitter and LinkedIn. You can also check out his speaker "sizzle" reel here. Michael LeBlanc is the Founder & President of M.E. LeBlanc & Company Inc and a Senior Advisor to Retail Council of Canada as part of his advisory and consulting practice. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience, and has been on the front lines of retail industry change for his entire career. Michael is the producer and h
Released:
Feb 23, 2021
Format:
Podcast episode
Titles in the series (100)
Challengers of the Status Quo with Coresight Research's CEO & Founder Deborah Weinswig: EPISODE SUMMARY Why do so many companies defend the status quo even when it becomes increasingly obvious that their business model is losing customer relevance and remarkability? Why do others think they can cost cut and store close their way to prosperity? In this episode we look at the roots causes of how and why retailers sink into irrelevance and risk a mass extinction event. Then we flip these questions on their head to explore ways to defy conventional wisdom and create a culture of experimentation. Along the way we touch on why "the opposite is risky" and why quitting is often underrated (hint: it has to do with understanding opportunity cost). Nordstrom's Local strategy gets a shout-out, as does Apple's new Express concept. We also dub JC Penney the "world's second longest liquidation sale." Our special guest is Deborah Weinswig, one of retail's leading analysts and thought leaders, and the by Remarkable Retail