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Optoro is a reverse logistics technology company that works with retailers and manufacturers to manage and then resell their returned and excess merchandise. [1] These products, which range from consumer electronics to home goods to clothing, are automatically listed on online marketplaces, including Amazon, eBay, Buy.com, BestBuy. [2]
In 2010, 2011 and 2012, Inc. named it one of the fastest-growing companies in the nation. [2] In 2012, Merchandize Liquidators doubled its revenues. [3] Merchandize Liquidators 2011 gross sales were $5.4 million and the percentage revenue growth for the four-year period through 2011 was more than 700 percent, according to a report by a leading trade publication. [4]
In the United States, various abuses using the return process allegedly cost retailers more than $9 billion annually. [9] One common practice is the use of the system in order to "borrow" the merchandise at no charge. The customer who engages in this practice purchases the item for temporary use, then returns it when finished.
Optoro, a company that helps streamline returns for Best Buy, ... Last year, U.S. consumers returned $743 billion worth of merchandise, or 14.5% of the products they purchased - up from 10.6% in ...
Returns surged in 2021 and stayed elevated last year, when they accounted for $816.8 billion in lost sales across the U.S. retail marketplace, according to data from the National Retail Federation ...
Read Next: 5 Bulk Food Items You Should Buy at Sam’s Club This Winter Try This: 4 Low-Risk Accounts Financially Savvy People Trust for Reliable Returns Here are five of the best Member’s Mark ...
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