The COVID-19 virus is putting a renewed focus on technology and the supply chain. One retailer, for instance, recommitted to scaling robotics solutions to replenish inventory to hundreds of locations by this summer. And in eCommerce, websites are allowing consumers to pay increments of an item’s price in hopes of winning the merchandise through a “float” process. All this, Today in Data.
2020: The year Target will open new warehouses near key markets, including New York and southern California.
2017: The year Ali Rizvi got the idea for FloatThat.
$290B: The projected lost revenue for retailers as a result of returns in 2022.
$133B: The return reduction opportunity in 2020.
65 percent: Share of returns that are controllable.