Seko Logistics is to be the launch partner for recommerce specialist Reconomx to help retail brands reduce their carbon footprints, understand the true cost of returns, and provide new in-country resale channels to bring down the estimated $100 billion a year cost of cross-border returns.
The Reconomx solution uses technology to help brands better understand the potential in-country and in-region resale channels and aims to deal with the return rates of up to 30% faced by cross-border sellers.
“Recommerce is growing 21x faster than traditional retail, showing a clear demand for these types of products,” said Ben Whitaker, Reconomx CEO. “By negating the need to ship returns back to base, it makes perfect sense for global brands with a ‘net zero’ retail agenda.”
He said that the solutions help reduce international freight charges, cut cycle and storage times – often by weeks – and lower C0₂ emissions. “Just as importantly, we give sellers more control to re-sell the in-country returns through the most suitable, profitable, and brand-appropriate secondary market channels,” he said.
The partnership with Seko gives Reconomx access to a global network of recommerce hubs and opens opportunities across multiple resale channels in prime cross-border retail markets such as Europe, North America, Australia and New Zealand. E
“Retail brands are working hard to embrace consumers’ sustainable mindsets and personal principles, and we anticipate a rapid acceleration of the ‘no returns’ principle over the next 3-5 years,” adds David Emerson, senior vice president, Seko Ecommerce. “Working with Reconomx means Seko Logistics can begin these conversations with brands now and offer ready-to-go solutions for sellers ready to take this next step.”Image credits:
- Seko Logistics