GFS has selected ZigZag’s technology to launch its new returns solution, GFS Global Returns Pro, after reviewing the reverse logistics market.
GFS Global Returns Pro, specifically aimed at SMEs and larger online retailers, packages together the technology platform with more than 200 multi-carrier services, plus expertise from GFS, into a single solution. The company says it gives customers a fast and easy way to request a return in less than a minute, and enables retailers to cut the cost of returns by up to 40%. The portal can also be deployed in just one to two days with a flat monthly fee.
GFS powers delivery for fast-expanding B2B and B2C e-commerce retailers worldwide, providing multi-carrier services, technology and expertise to manage the entire logistical process from checkout to doorstep.
The company says that GFS Global Returns Pro is launching at the perfect time. Online retailers continue to battle rising return rates of over 50% and cost the UK more than £60bn (US$79bn) per year. Returns also cause a huge dent in the bottom line because stock becomes tied up and handling costs are high. Returns have also become a high priority for the consumer too.
According to recent research by UPS, 79% of consumers check the returns policy before making a final purchase decision, leading to 50% of purchases being abandoned at checkout because they did not like the retailer’s returns policy. In recent months, lockdown has caused a sharp shift from high street to online shopping as many are left with no option but to shop online – and as online spending grows, so does the problem of returns.
Neil Cotty, CEO at GFS, said, “Until now, only the largest global retailers have had access to the tools and resources to master the returns challenge. GFS Global Returns Pro will level the playing field by offering small and larger retailers a fast and affordable solution to simplify returns and give customers a high-end returns experience without the high-end cost. This is a strategic development for us. The addition of Global Returns Pro to the GFS portfolio means that we can now offer an unrivalled global outbound and inbound solution that makes it both fast and simple for e-commerce businesses to expand internationally.”
Hundreds of online retailers rely on GFS to deliver over 30 million parcels every year and it is the behind-the-scenes global delivery partner for a number of the world’s fastest-growing e-commerce brands.
Al Gerrie, co-founder and CEO, ZigZag Global, commented, “GFS is a well-respected e-commerce provider for some of the most exciting retailers in the industry. ZigZag is delighted that GFS has decided to use our technology to power their new returns solution. Customers from a long list of promising retailers already using GFS for their outbound logistics will now be able to take advantage of our hassle-free returns portal for faster refunds, creating satisfied and loyal customers.”
