ReBOUND is the company behind a software which describes itself as the “fastest growing ecommerce returns solution”. The software provides companies with an admin portal which makes “returns easy for shoppers” and provides “valuable” data.
It lists ASOS, Missguided and JD Sports as its members.
Reconomy said the deal marks efforts to “supercharge” sustainability in the retail sector, as the industry experiences surging online return volumes due to the pandemic. According to ReBOUND data, this rose to 65% of all purchases since March 2020.
Reconomy added that the pandemic’s “online shopping boom” has increased the need for leading retails brands to manage their environmental impact.
The acquisition will work by combining ReBOUND’s returns platform with Reconomy’s portfolio of technology-enabled environmental services.
The deal marks the latest in a line of investments Reconomy has made as part of its growth plan, such its recent acquisition of Eurokey Recycling (see letsrecycle.com story).
‘Exciting development’
Paul Cox, CEO of Reconomy said that the surge in online shopping has meant that sustainable returns have taken on “even more importance” and present a challenge for many businesses.
He continued: “Adding ReBOUND to the Reconomy Group is a very exciting development and we extend a warm welcome to the whole team. Their innovative approach, underpinned by great technology and a focus on providing an excellent user experience, makes for a perfect fit with Reconomy. ReBOUND’s expertise, combined with the Reconomy Group’s existing returns activity, will offer clear, unique benefits to our customers as we continue to build an unrivalled set of services to help drive the circular economy on the global stage”.
“ReBOUND’s expertise, combined with the Reconomy Group’s existing returns activity, will offer clear, unique benefits to our customers”
‘Environmental crisis’
Graham Best, founder and CEO of ReBOUND added that due to the lockdown-inspired ecommercee surge, retail faces an “environmental crisis”.
He continued: “At ReBOUND we’ve always prided ourselves on helping retailers recognise the value of their returns data. Uniting with Reconomy Group’s incredible resources now means there are boundless opportunities for retailers to apply that data to tackle returns sustainably, from knowing which worldwide recycling services are available to tap into, to supercharging advanced analytics to sell items that customers actually want to keep.”
Retail
Reconomy’s move into the retail sector follows Biffa’s recent acquisition of the UK’s “largest redistributor of surplus food”, the Company Shop Limited, as part of a step towards its commitment to the circular economy (see letsrecycle.com story).
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