User:Spncrinc/sandbox/HappyReturnsCompany Draft7
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| Company type | Private |
|---|---|
| Industry | Product return Logistics E-commerce Shopping |
| Founded | 2015 |
| Headquarters | Los Angeles, CA, U.S. |
Area served | United States |
Key people | David Sobie, CEO Mark Geller, COO Andrew Pease, CFO |
| Website | www |
Happy Returns is a Los Angeles-based software and reverse logistics company that works with online merchants to handle product returns. Purchased items can be returned in person without boxes or labels at thousands of third-party locations in the United States. Locations which facilitate product returns are referred to as “Return Bars.” Among these are FedEx, Cost Plus World Market, and Paper Source stores, with specific locations searchable on Happy Returns’ website. Consumers can receive their refunds without packaging their items, printing and affixing labels, or waiting for mailed packages to reach their destinations.[1]
The company facilitates returns for many brands, both brick-and-mortar and direct-to-consumer merchants, including Levi's, Revolve, Rothy's, Everlane, Steve Madden, Gymshark. E-commerce conglomerate, Amazon, later developed a similar program in conjunction with Kohl’s stores to accommodate its shoppers.[1]
Happy Returns aggregates and bulk ships returns inside reusable packaging from its Return Bar locations to warehouse hubs, where returns are sorted, processed, and dispositioned, and then shipped back to merchant warehouses.
History
[edit]David Sobie and Mark Geller co-founded Happy Returns in July 2015. The two met at NordstromRack.com/HauteLook, where they created and launched a similar program enabling shoppers to return online purchases to physical stores.[2]
Happy Returns opened its first Return Bar location in April 2016.[2] At first, many Return Bars were located in shopping malls but the COVID-19 pandemic caused many struggling shopping malls to close.[3] Although there have been many mall closures, Happy Returns continues to partner with e-commerce sites that don’t have physical stores.[4] Customers still need a physical location to bring product returns. Happy Returns pairs merchant partners with Return Bars.[5]
In June 2021, Happy Returns was acquired by PayPal to expand its post-purchase product offerings. In September 2021, Staples locations in the U.S. began serving as Return Bars.
Sustainability
[edit]By bulk-shipping commingled returns in reusable packaging from Return Bar locations to warehouse hubs, greenhouse gas (GHG) emissions are reduced by an estimated 120,000 lbs for every one million returns, addressing the sustainability goals of many retail customers.[6]
References
[edit]- ^ a b Del Rey, Jason (2020). "Online shopping is booming but so are returns. An old-school solution is gaining steam". Vox.
- ^ a b Rogers, Kate (2017). "A start-up's plan to take the headache out of online refunds". CNBC.
- ^ Del Rey, Jason (2020). "The death of the department store and the American middle class". Vox.
- ^ Del Rey, Jason (2017). "Whole Foods gives Amazon hundreds of return centers. A startup wants to give other e-commerce sites the same". Vox.
- ^ "PayPal's Happy Returns Partners with Staples US Retail to Expand Its Network of Return Bar Locations". Yahoo. 2021.
- ^ "PayPal Expands Post-purchase Offerings With Happy Returns Acquisition". MSN. 2021.