New Retail Industry Benchmark, KeepScore™ from Newmine, Empowers Retailers to Measure Value Chain Success and Profitability At-A-Glance
BOSTON, MA – Jan 12, 2021– Newmine, a leader in product returns reduction technology and developers of Chief Returns Officer® announced today the launch of KeepScore™, a new benchmark that harnesses key data on products, suppliers, and customers to create the definitive measure of a common goal: Customers keeping the products that they purchase.
For decades, retailers have relied heavily on sales metrics as a means of measuring product and supplier performance as well as and customer satisfaction. The escalating product returns crisis in retail, exacerbated by the accelerated growth of e-commerce due to COVID-19, has placed an ever-increasing strain on retailer finances, operations, supply chains, and customer relationships.
KeepScore™ is a powerful byproduct of Chief Returns Officer®, Newmine’s Returns Reduction Platform. “We were inspired by the idea of credit scoring,” says Navjit Bhasin, founder and CEO of Newmine. “Ultimately, retailers and suppliers want to deliver products that delight customers, and even the best returns experience can’t make up for the customer disappointment and inconvenience that comes with returns. KeepScore is our solution to that.”
With KeepScore, retailers can quickly identify underperforming and high-value products and suppliers, as well as customers that are serial returners. Creation of incentives designed to maximize the value of high performing categories, suppliers, and loyal customers will improve financial performance and customer retention.
Retailers who are interested in learning more about how KeepScore helps retailers reduce returns can download Newmine’s eBook, the AI That Makes Returns Reduction Possible.