RLA News & Views

Why AI Is a Key Element in Helping Retailers Achieve Zero-Waste Returns Goals


January 18, 2023

Eighty-six percent of brands say sustainability is a priority across their vast supply chain. Unilever pledged net zero emissions by 2039, and P&G promised the same by 2040. Walmart, IKEA, H&M, Kingfisher, Best Buy, and others joined the “Race to Zero” by 2050. Zara pledged to reduce and offset all emissions by 2040, while Forever 21 said it’s moving away from fast fashion.

These organizations agree: Acting responsibly is critical for the future of our planet. It’s also key to retaining loyal customers. Between 2018 and 2019, Forever 2021’s followers left the fast fashion retailer in droves for more sustainable and trendy competitors. An IBM survey of over 16,000 people revealed 49% chose premium sustainable goods over discount items. Echoing this sentiment from a returns perspective, 75% of consumers said they would be more loyal to a retailer if they knew the company refurbished unwanted items rather than tossing them away.

Retailers’ sustainability goals are lofty. Still, they can succeed with commitment, participation across the supply chain, and intelligent technology. Artificial intelligence (AI) is a crucial element in achieving zero-waste initiatives. Here’s why software-enabled returns management can have a significant impact.

Read the article here: https://risnews.com/why-ai-key-element-helping-retailers-achieve-zero-waste-returns-goals?utm_medium=email&utm_content=jgqa8i07nTjf1-WxvQ7DQfQWi0eu920ge9FCGZMkFQcu8QI54eCo7Pta_Je00xS_