![]() ![]() ![]() The circular economy, as understood in supply chain, aims to create a closed loop where waste is eliminated and resource efficiency is maximized. Two of the trends affecting reverse logistics, besides the increase of e-commerce and the increased focus on customer centricity, are the circular economy and robotics. Re-commerce is one such mechanism in the circular economy in which goods are refurbished, repurposed and resold, extending the life cycle of products. ![]() ![]() In addition to returns, other reverse logistics market segments such as re-commerce, recycling, and end-of-life disposal are seeing similar growth, as the concept of the “circular economy” continues to take shape and mature as a logistics and marketing competitive advantage. Returns occupy the bulk of the reverse logistics space, according to the National Retail Federation, and it’s estimated that, on average, 17% of retail orders are returned, with peaks as high as 30% during holiday peak season. Reverse logistics remains an important function in the supply chain strategy of organizations looking to execute on their commitments to sustainability, customer service, and value capture from returned goods. Retail e-commerce continues its upward trajectory despite slowed economic activity, expecting to grow from $3.3 trillion today to $5.4 trillion globally by 2026, according to Morgan Stanley’s “Global E-commerce Growth Forecast 2022.” Commensurate with e-commerce growth, reverse logistics is forecasted to grow to $954 million by 2029, with a CAGR of 5.3%, according to Data Bridge Market Research. ![]()
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