Today we spoke to James Rigg, CEO of Trojan Electronics, who shared the business case for brands and retailers to embrace electronics refurbishing and take control of their commerce operation’s reverse logistics.
Interesting stats which James shared are the very high percentage of returned/faulty products that can be recovered, how brands can protect their reputation through taking control, and perhaps most importantly how brands can use their refurbished offering to win new aspirational customers without diluting their existing customer base.
In this video, you will discover:
- 00:00 How Trojan Electronics reduce ewaste
- 01:27 Consumer sentiment to refurbished products
- 03:56 Brands and the New/Used profitability conundrum
- 05:38 Why offering refurbished product wins new customers
- 07:45 Why Hotel Chocolat sell refurbished side by side with new in store
- 09:25 Returned products are a £1 billion annual hit for retailers
- 10:55 What percentage of returns can be recovered and refurbished?
- 12:49 The brand reputational risk of not controlling returns refurbishment
- 15:52 Financial rewards for brands working with refurbishers
- 18:44 What happens to end of life product?
- 23:44 What’s the next target product set for refurbishing