Bringoz Industry Weekly 12/31R
eturns totaled $743 billion in merchandise in 2023. Sales on Super Saturday (Dec 23) hit a record $47 billion. Next year, companies will be looking to accelerate the delivery of data-driven intelligence to better manage supply chains and increase on-time customer deliveries. Read about these stories and more in our weekly industry news roundup.
Returns Totaled $743B in 2023
Total returns amounted to $743 billion in merchandise in 2023, according to a report by the National Retail Federation and Appriss Retail. As a percentage of sales, the total return rate for 2023 was 14.5%. According to the report, for every $1 billion in sales, the average retailer incurs $145 million in merchandise returns. Online sales have a higher return rate, with 17.6% or $247 billion of merchandise purchased online returned. Read more.
Super Saturday Drives Record Sales
Sales on Super Saturday (Dec 23) hit a record $47 billion, well ahead of the $42.6 billion in sales on Black Friday, according to a report from Customer Growth Partners (CGP). Sales reached a record total of $930 billion for the November-December holiday shopping period, up 2.4% from last year’s $908 billion, according to CGP estimates. The 2.4% growth shows a continued slowdown from the post-Covid spending peak. Read more.
Businesses Will Seek Data-Driven Intelligence in 2024
As they head into 2024, companies will be looking to accelerate the delivery of data-driven intelligence to better manage global supply chains and increase on-time customer deliveries, according to a report from electronics and connectivity provider Molex. They will attempt to do that through continued advancements in supply chain infrastructure, along with increased adoption of digital tools and artificial intelligence. Read more.
The Benefits of Real-Time Tracking in Rental Fleet Management
Real-time tracking has become an indispensable asset for fleet operators, offering benefits that enhance operational efficiency and boost customer satisfaction. Here’s a look at some benefits of incorporating real-time tracking into your rental fleet management strategy. Read more.
Sustainability in Rental Fleet Management
As environmental concerns continue to mount, consumers are becoming more environmentally conscious, and businesses are recognizing the long-term cost efficiencies and brand benefits of sustainable practices. Here’s a look at some practical strategies for fleet managers to reduce their environmental footprint while still providing efficient and cost-effective services. Read more.
Harness Data to Enhance Rental Fleet Management
Fleet managers are increasingly turning to data analytics to help them optimize their operations, enhance customer satisfaction, and increase profitability. As technology advances and data collection becomes more sophisticated, the role of data in automotive rental fleet management will continue to expand. Here’s a look at how data analytics can help enhance rental fleet management and improve the customer experience. Read more.
Streamlining the Rental Process: Digital Solutions for Fleet Managers
Traditionally, rental fleet management involved manual processes, paper records, and a fair share of administrative work. However, these traditional methods of managing a rental fleet are increasingly giving way to digital solutions that offer automotive rental companies greater efficiency, streamlined operations, and increased customer engagement. Here’s a look at how technology is transforming rental fleet management. Read more.