Retail e-commerce continues its upward trajectory despite the slowed economic activity, expecting to grow from $3.3 trillion today to $5.4 trillion globally by 2026, according to Morgan Stanley’s “Global E-commerce Growth Forecast 2022.” Commensurate with e-commerce growth, reverse logistics is forecasted to grow to $954 million by 2029, with a CAGR of 5.3%, according to Data Bridge Market Research.
Reverse logistics remains an important function in the supply chain strategy of organizations looking to execute their commitments to sustainability, customer service, and value capture from returned goods. Returns occupy the bulk of the reverse logistics space, according to the National Retail Federation, and it’s estimated that, on average, 17% of retail orders are returned, with peaks as high as 30% during the holiday peak season.
