E-commerce marketplaces are facilitating direct peer-to-peer returns for efficiency
Trend - E-commerce networks are implementing peer-to-peer (P2P) returns networks that directly connect returned products to consumers purchasing used or previously-owned products. These systems save on items being shipped twice, saving both money and environmental impact for the parties involved.
Insight - As more and more consumers choose to shop online rather than in brick and mortar stores, various costs amount for businesses, including shipping, RMA costs, and the cost of off-setting environmental impacts. On the other hand, consumers who shop online do not want these costs placed onto them and desire more affordable prices than in-stores. In an effort to reconcile these various costs without additionally charging consumers, businesses are turning to third-party solutions.
Insight - As more and more consumers choose to shop online rather than in brick and mortar stores, various costs amount for businesses, including shipping, RMA costs, and the cost of off-setting environmental impacts. On the other hand, consumers who shop online do not want these costs placed onto them and desire more affordable prices than in-stores. In an effort to reconcile these various costs without additionally charging consumers, businesses are turning to third-party solutions.
Workshop Question - How could your brand leverage peer-to-peer systems to improve aspects of its business?
Trend Themes
1. P2P Return Networks - E-commerce networks are implementing peer-to-peer (P2P) returns networks that directly connect returned products to consumers purchasing used or previously-owned products.
2. Third-party Solutions - In an effort to reconcile various costs without charging consumers, businesses are turning to third-party solutions.
3. Sustainable Return Initiatives - Companies are implementing sustainable initiatives that reduce CO2 emissions, landfill waste, and packaging waste associated with returns.
Industry Implications
1. P2P Marketplace Apps - 'Storr' allows anyone to open a store from their phone in three clicks, making it a disruptive P2P marketplace concept.
2. Sustainable Clothing - Good For Sunday debuts a new green initiative, Ecoturns, in the highly pollutive return industry, providing a disruptive innovation opportunity in sustainable clothing.
3. Peer-to-peer Returns Services - Frate initiates cost and eco-conscious peer-to-peer returns, tackling the financial losses for retailers and reducing the environmental impact of returns.
