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Pitney Bowes and Narvar Launch Partnership to Offer Most Comprehensive Post-Purchase Capabilities in the Market
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Pitney Bowes (NYSE: PBI) has partnered with Narvar to enhance retail merchandise return processes, aiming to control costs and improve customer satisfaction. Retailers face an average return cost of 21% of order value, which can significantly impact profitability. The collaboration combines Narvar's post-purchase platform with Pitney Bowes' logistics capabilities, enabling more efficient returns and exchanges. This initiative allows for seamless integration of technologies, including label-less returns and nationwide pickups, and aims to prepare retailers for the upcoming holiday season.
Positive
Strategic partnership with Narvar to streamline return processes.
Potential cost savings for retailers facing high return costs (average 21% of order value).
Integration of technologies enhances customer experience and operational efficiency.
Rapid implementation allows retailers to utilize new capabilities before the holiday season.
Negative
None.
Seamless integration of physical and digital returns capabilities will help retailers control costs and improve customer experiences
STAMFORD, Conn.--(BUSINESS WIRE)--
Pitney Bowes (NYSE: PBI), a global shipping and mailing company that provides technology, logistics, and financial services and Narvar, the pioneer in post-purchase customer experience, today announced a joint partnership to help retail brands streamline their processes for merchandise returns.
According to a recent survey of medium and large-size digital and omnichannel brands, online returns cost retailers an average of 21% of order value, with several brands reporting costs considerably higher. The new partnership between the post-purchase innovators will enable brands using both Narvar and Pitney Bowes to test and automate finding the right balance between convenience and cost in returns, and exchanges.
“Post-purchase processes—and returns in particular—are not only significant cost centers for ecommerce brands, but are becoming even more complex due to supply chain disruption and the macroeconomic landscape,” said Amit Sharma, CEO at Narvar. “The combination of Narvar’s post-purchase experience platform and Pitney Bowes’ ecommerce logistics capabilities will dramatically accelerate a retailer’s transition to a more personalized and efficient returns model, while simultaneously saving brands money and improving the customer experience.”
“Ecommerce brands are in a tough position. The cost reductions necessary among logistics teams today could unintentionally impact the customer experience,” said Gregg Zegras, EVP and President, Pitney Bowes Global Ecommerce. “There is tremendous opportunity to create a win-win for brands and consumers by more closely integrating front-end experience technology with transportation networks and operations. The combination of physical and digital capabilities in this joint offering from Pitney Bowes and Narvar will allow merchants to easily test and design the most pragmatic post-purchase experience for their consumers.”
The joint offering by the companies brings a unique and seamless integration of capabilities to market, including:
Pre-integrated technologies, onboarding, and support, available to all Narvar and Pitney Bowes Ecommerce clients
Label-less returns, nationwide home pickup services, fast refunds, and store credit processing for optimum consumer experience leveraging Narvar’s market-leading post-purchase platform
Highly-configurable returns routing, transportation and processing services, built to fit the unique brand experience and cost goals of each merchant—leveraging Pitney Bowes innovative Designed Returns services
The partnership allows Pitney Bowes and Narvar clients the opportunity to adopt these new capabilities quickly ahead of the upcoming holiday peak season, with numerous joint clients already launched.
About Narvar
Narvar pioneered how brands engage with consumers beyond the “buy” button through branded order tracking, delivery notifications, returns, and exchanges. Today, Narvar’s comprehensive Post-Purchase Platform empowers 1,200+ of the world’s most admired brands, including Sephora, Patagonia, Levi’s, Sonos, Warby Parker, LVMH and L’Oréal, to deliver transparency, build trust and grow customer lifetime value. Recognized by Fast Company multiple times as one of the most innovative companies, Narvar simplifies the everyday lives of consumers. For more information, visit www.narvar.com.
About Pitney Bowes
Pitney Bowes (NYSE:PBI) is a global shipping and mailing company that provides technology, logistics, and financial services to more than 90 percent of the Fortune 500. Small business, retail, enterprise, and government clients around the world rely on Pitney Bowes to remove the complexity of sending mail and parcels. For the latest news, corporate announcements and financial results visit https://www.pitneybowes.com/us/newsroom.html. For additional information, visit Pitney Bowes at www.pitneybowes.com.
What is the partnership between Pitney Bowes and Narvar about?
The partnership aims to enhance retail merchandise return processes, combining technologies to control costs and improve customer experiences.
How much do online returns cost retailers on average?
Online returns cost retailers an average of 21% of order value.
What benefits will the Pitney Bowes and Narvar partnership bring to retailers?
The partnership offers streamlined return processes, cost savings, and improved customer satisfaction through enhanced logistics and post-purchase experiences.
What capabilities are included in the Pitney Bowes and Narvar joint offering?
The offering includes label-less returns, nationwide pickup services, fast refunds, and configurable returns routing.
When can retailers start using the new capabilities offered by Pitney Bowes and Narvar?
Retailers can quickly adopt the new capabilities ahead of the upcoming holiday peak season, with many clients already launched.
