ReturnBear to launch reverse logistics solutions in the UK

ReturnBear, a provider of reverse logistics solutions for e-commerce returns, has announced its expansion into the United Kingdom. Beginning July 1, this strategic move aims to support brands in managing cross-border returns from the US, Canada, and now the UK.

Worldwide cross-border e-commerce is growing at twice the rate of domestic e-commerce, according to McKinsey. Efficient handling of returns is crucial for maintaining customer satisfaction and profitability in the e-commerce sector. ReturnBear's expansion is aimed at addressing these challenges with a comprehensive suite of reverse logistics solutions.

Sylvia Ng, CEO of ReturnBear, commented, "Merchants can easily sell in a hundred countries overnight using global selling platforms. But there is no easy way to get returns back. Our expansion into the UK market is part of our vision to be the first global end-to-end platform for single-day returns. Consumers check for convenient returns before buying, and merchants must meet consumers' expectations to grow in local markets. ReturnBear provides a simple way to do that."

ReturnBear's services offer package-free, label-free, instant refund locations backed by human return verification to protect retailers from returns fraud. The company began with 10 locations in Canada in 2022 and quickly expanded to over 1000 locations. It operates two processing hubs in Canada and the United States. The UK expansion will provide similar customer convenience and brand profitability improvements in the new market.

Return fraud has become a significant issue for retailers, contributing USD $101 billion in overall losses in 2023. For online sales, the return rate nearly reaches 18%, compared to 10% for brick-and-mortar stores, leading to substantial financial impacts. Returning items account for USD $145 million per USD $1 billion of sales, and overall merchandise returns in the online sector amount to USD $247 billion.

The expansion will also see ReturnBear extending support to clients such as Bond-Eye Swimwear and Sol Kyst in the UK market. Meghan Victoria, Founder and CEO of Sol Kyst, expressed her enthusiasm for the partnership, stating, "The global response to our brand and products has been phenomenal. Being an inclusive brand with multiple size offerings, creating an easy exchange and return process has remained a top priority for us. We are really looking forward to enhancing our return offering for our customers in the UK with ReturnBear, knowing it will increase the positive experiences for our customers as well as our business."

ReturnBear's platform seeks to streamline the returns process for retailers and consumers by providing automated self-serve return options and optimised logistics. This includes consolidated cross-border brand shipments, which can result in cost savings and enhanced convenience for customers.

ReturnBear's network and technologies are designed to address the complexities of reverse logistics in a global market, aiming to make returns a valuable touchpoint for retailers while ensuring a convenient experience for customers.

McKinsey's analysis highlights the growing importance of efficient return management systems, especially with the rise of international deliveries. ReturnBear's expansion into the UK marks a significant step in its mission to provide a global, end-to-end returns management solution that benefits both brands and consumers.