Newmine Expands Globally to Help Retailers Reduce Returns

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Newmine brings returns reduction to the global market.

According to Neil Davis, “Newmine offers retailers a unique platform that drives reductions in both the volume and cost of returns. We are well-positioned for growth internationally, and I am excited to lead the effort to bring Chief Returns Officer to retailers across Europe.”

Newmine, the developers of Chief Returns Officer®, the first and only AI-driven returns reduction platform for retailers, announced today their expansion of operations in Europe to meet growing demands for returns reduction. The expansion will be led by newly appointed Head of European Sales, Neil Davis.

Returns pose significant challenges to retailers globally, as analysts predict they will cost the industry $550 Billion by 2020. This cost encompasses lost sales margins and increased operating cost. Retailers in Europe have unique challenges when it comes to returns, with each market coping with different regulations and customer return behavior. According to Bloomberg, German shoppers return the most frequently among all European shoppers, followed by shoppers in the UK, Netherlands, and France.

“The financial and organizational challenges created by escalating customer returns are a global problem. We are excited to bring our laser focus on returns reduction to European retailers and brand owners. Under the leadership of industry veteran Neil Davis, we look forward to bringing the returns reduction revolution to Europe” says Mark Lightbody, Partner.

According to Neil Davis, “Newmine offers retailers a unique platform that drives reductions in both the volume and cost of returns. We are well-positioned for growth internationally, and I am excited to lead the effort to bring Chief Returns Officer to retailers across Europe."

Newmine created Chief Returns Officer as a platform to support improvement to retailers’ bottom lines. This is achieved through revenue retention, margin improvement, reduced operating costs, and improved inventory management.

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About Newmine
Newmine was established in 2011 as a highly focused retail commerce optimization firm. Comprised of former retail and supply chain executives with deep experience in retail strategy, operations, and technology, Newmine’s vision is to ensure retailers thrive in a transforming world. In addition to their operations and technology consulting practice, Newmine seeks to disrupt the returns management market with AI-driven returns reduction solutions. Newmine’s Chief Returns Officer® is an AI-powered platform that gives retailers a holistic view of integrated returns-related data from across the enterprise, prescribes corrective actions, and enables collaboration. Companies using Chief Returns Officer® reduce return rates and improve their EBITDA. For more information, visit http://www.newmine.com.

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Jennifer Gorlin
@ReturnsChief
since: 09/2017
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