customer experience management
Published on : Nov 3, 2022
The company sees record demand for its enterprise-grade technology platform as retailers leverage returns to attract and retain customers ahead of the holiday season
Optoro, Inc., the leading technology platform for retail returns and reverse logistics, today announced that its platform has processed more than 100 million returns. In October 2022 alone, the company processed 8.63 million units, a 74% increase YoY from Q3 2021. This milestone comes on the heels of impressive growth for the company, as retailers and brands look to innovative returns offerings as a competitive advantage that can boost customer loyalty, drive additional revenue, and minimize costs and environmental waste.
Optoro is best known for its AI-powered decision-making platform for processing and routing returns for major retailers like IKEA, Best Buy, Staples, and American Eagle. Over the past several years, the company has grown to become the market’s only end-to-end platform that addresses the full returns lifecycle — from customer experience, to back-end management, to the resale of returned inventory. With new features, including investments in scalability and ease of implementation across its enterprise-grade platform, Optoro has expanded its customer base beyond big box retailers to welcome mid-market e-commerce companies, with a particular interest in apparel and home goods retailers.
“Returns have historically been viewed as a cost center for retail,” said Tobin Moore, Optoro’s co-founder and CEO. “Our all-in-one platform flips the script. Optoro provides best-in-class solutions that transform returns into a growth engine with massive benefits — from driving additional sales to boosting customer loyalty, all while reducing waste and expenses. And we make it easy for retailers to adopt this innovative technology, by providing them with one platform that does it all. We’re the only provider that retailers can depend on to power the returns journey from the initiation of the shopper’s experience all the way to the routing of an item to its next best home.”
Optoro has expanded its technology and footprint to meet increased demand from mid-market retailers, including:
Optoro’s platform not only helps retailers attract customers and boost revenue, but also enables retailers to meet their circularity goals. With Optoro’s all-in-one platform, returns are processed quickly and intelligently, increasing resale value and minimizing the chance they are sent to landfills. Since 2015, Optoro’s retailer customers have:
“Optoro is applying the core tenets of circularity to create lasting impact on the retail industry,” said Adam Vitarello, co-founder and President of Optoro. “Our technology doesn’t just do good — it creates a scalable and sustainable process that benefits business operations, consumers, and the planet. At the end of the day, it’s our responsibility to address the massive issue of returns. If we can do that while making the process a business driver, then that’s a win-win.”