Toronto-based ReturnBear has spent the past year and a half pitching itself as an alternative for retailers that are fed up with the cumbersome and costly process of online returns
After an online shopper clicked the buy button, the grey top was loaded into a delivery truck at the Toronto warehouse of online clothing retailer Franc for a trip across the city. But, as with so many items bought on the internet, it was soon returned for a refund.
The company achieves this promised efficiency in part by having customers return items in person at one of 14 drop-off points in Cadillac Fairview malls across Canada, rather than by mail. To convince shoppers to take on that burden, ReturnBear promises faster refunds, with no need to print labels or repackage items for shipping.
“With inflation, with gas costs and transportation, these margins are getting smaller and smaller. Anything the retailer can do to protect those margins is going to be key,” said Jane Domenico, senior vice-president and national lead of retail services in Canada with Colliers. Ms. Ng joined Koru in 2021 after three years as a director and general manager overseeing product development at Shopify. She began leading ReturnBear when it was little more than a cub, as the team built software to run retailers’ online return portals with the drop-off option prominently displayed.
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