Newmine aims to help retailers analyze sales and returns through its Chief Returns Officer platform in order to become better informed about customer actions. The AI- and natural language processing-powered software was designed to determine the root cause of returns upstream, from planning, design and marketing to customer delivery.
Chief Returns Officer scrutinizes every sale and return, then delivers the actionable and beneficial remedies for the problem and measure improvements. It seeks to provide information that can help retailers decipher why customers return merchandise, in time and in season, to prevent future returns from happening in the first place.
The ultimate goal of the platform is to help merchandising, supply chain, marketing, digital, operational and loss prevention teams benefit from reduced returns, improved sustainability, enhanced engagement with customers and a better bottom line.