Yesterday, we reported on the immense amount of returns that plagued retailers in 2021. Roughly 16.6 percent of all purchased goods were sent back, accounting for $761 billion in lost sales. The reverse logistics of the return process is not only financially costly to businesses, but also to the environment with roughly 25 percent of returns going straight to landfills. To put that in perspective, it equates to 5.8 billion pounds of waste each year. As a result, some major retailers such as Amazon and now Walmart have launched resale programs to give refurbished products a second life.
The new Walmart Refurbished program -just announced by the retail behemoth last week- will be available online and in select stores this coming fall. All refurbished products sold by the company will be tested, inspected and cleaned. They will also come with a 90-day free return window. The purpose of the new program is to further the company’s offering of budget-friendly products. The company said in its press release: “In a year when customers are looking for ways to save money, like-new refurbished products have become an increasingly popular way to cut down on costs without sacrificing quality.”
In other news, SHARP has just come out with its latest kitchen appliance: The SHARP Smart Dishwasher, which features voice control “Works with Alexa” technology. It also includes LED interior lighting, adjustable racks, a Power Wash sprayer and Wash Zone options. Jim Sanduski, president of SHCA, said in the company’s press release: “At SHARP, we understand that smart appliances are the way of the future, and consumers are looking to work smarter – not harder in their homes.”
WHAT WE’RE READING…
Retailers Lock Up More Items to Prevent Theft