Recommerce is on the rise as outlets struggle to attract customers post-pandemic, running out of storage space behind the scenes while coping with a growing tide of returned items. The situation is even more difficult for e-commerce companies, where returns accounted for $761 billion in lost revenue, the The National Retail Federation recently reported. Meet Marcus Shen, CEO of San Mateo, CA B-share solutions, an online marketplace for businesses wishing to resell excess inventory. From the top 10 US retailers, such as Walmart, Amazon, GameStop and Costco, to small business owners looking to fill their shelves, businesses around the world use B-Stock to sell and buy returned and unsold merchandise, which is sold at auction or sold. directly from the retailers distribution center at a fraction of the retail price.
A staggering 21% of online purchases were returned during the 2021 holiday season – suggesting that the cost of returns at Amazon, which does not disclose its return volume, could have reached more than $98 billion in 2021. About a third of returned items are burned to generate power, which is the epitome of waste and a symptom of very short-sighted thinking. Add to the idea that useful returned products are burned the carbon footprint of a round trip from the buyer’s home, and you can see how returns can nearly double or more the environmental impact of a purchase. In the face of a growing wave of returned and excess inventory, giving these products a second chance at a useful life is critical to reducing the GHG emissions generated by our economy. Explore the tortuous path of “reverse logistics” and how the secondary market can help create a more circular economy.
To learn more about B-Stock and, if you’re looking to start a small retail or e-commerce business, shop for excess inventory, visit bstock.com.