Southborough, MA – Newmine, a global Omni-channel retail consulting firm, today announced the availability of its latest service, the Customer Returns Assessment Program (RAP). This program is designed to comprehensively evaluate and optimize a retailer’s customer returns strategy and processes to deliver significant additional contributions to EBITDA through reduced return rates and cross-functional cost reductions.
The Returns Assessment Program is a focused 2-3 week project and uses Newmine’s innovative RAP Index™, a comprehensive assessment tool which benchmarks a retailer’s current returns program against a wide range of metrics, best-in-class benchmarks and peer performance.
“Many retailers consider customer returns to be a simple cost of doing business,” said Navjit Bhasin, CEO of Newmine. “While it may be true that returns are inevitable, without an up to date, comprehensive strategy for managing the cross-functional expenses inherent in any returns program, a retailer’s EBITDA is measurably affected. Put another way, for a $100 million retailer, a 1 or 2 point reduction in return rate yields $500K directly to EBITDA. That’s significant!”
The output of the project is a comprehensive assessment of the current returns environment and a set of concrete steps to improve performance, reduce return rates and improve the customer experience, all of which directly improve EBITDA.
Newmine is a focused consultancy with practices that support the full retail business cycle. Services include systems and operations strategic planning, evaluation and optimization, due diligence for merger and acquisition events, change management and business integration. We provide these services to retailers, consumer brands and private equity firms with investments in the retail sector.
The company specializes in helping businesses develop and bring to market a coherent Omni-Channel retail strategy, assess and optimize operations and systems for revenue growth, cost reduction and risk mitigation. Newmine also enables new infrastructure projects with existing IT and operational staffing. Newmine’s experienced, hands-on team offers a high-value alternative to large, traditional consulting firms.
Our team has worked with mid-market and multi-billion dollar retailers like Eddie Bauer, Express, Macy’s, Nordstrom and Staples, internationally known brands such as Brooks Brothers, Coach, Coldwater Creek, Orchard Brands and Patagonia and top private equity companies like Golden Gate Capital and Sycamore Partners. Our experts have kept them competitive, profitable and have helped to enhance the value of their brands. For more information about how Newmine can drive positive change for your business, contact info@newmine.com or www.newmine.com.