Newmine, retail technology pioneer and developers of Chief Returns Officer®, a SaaS merchandise returns reduction platform, announced today their inclusion as an inaugural launch partner of Microsoft Cloud for Retail. Chief Returns Officer predicts and prevents returns through deep data analysis and by delivering AI-generated remediation actions to reverse the course of rising returns.
Microsoft Cloud for Retail is an industry-specific cloud that helps retailers unify disparate data across the customer journey and empowers them to compete in the industry’s mercurial new-normal with speed and scale. With tools like Newmine’s Chief Returns Officer and Microsoft Cloud for Retail, retailers can expect tight integration of data and applications to better anticipate changes in the market to accelerate their response.
“With the skyrocketing costs of product returns, it’s not really a sale until it’s a keep,” says Newmine’s CEO, Navjit Bhasin. “The conventional approach to returns is to focus on processing, but retailers can no longer simply endure the volume of returns heading back to them. Returns are a signal that something is amiss upstream. Chief Returns Officer isolates the root cause of returns and makes it actionable and easy for our clients to correct those issues in time for it to make a real impact on customer experience and profitability.”
“Returns are a critical part of most customer journeys and can lead to decreased sales and reduced loyalty. With Newmine, a retailer gains insight on why certain products are returned, which allows them to execute on this knowledge,” says Robbee Minicola, senior director, partner strategy, WW Retail & Consumer Goods Industries at Microsoft. “We are pleased to have Newmine as part of the Microsoft Cloud for Retail portfolio of partner solutions with their Chief Returns Officer product.”
