Authentic Brands Group partners to deliver 'instant' refunds
A global brand management company is teaming up with an instant refund platform to give customers making returns immediate access to their money.
Authentic Brands Group is launching a strategic partnership with Reshop, which has become the instant refund provider for brands within the Authentic portfolio. Through the partnership, which will be introduced through a phased rollout, Authentic is now giving consumers immediate access to their money from refunds with the goals of enabling faster repurchases and creating a better shopping experience.
"Speed, convenience, and optionality are key factors for retailers to ensure success in today's landscape, and we're always looking for new ways to enhance the shopping experience for our customers," said Adam Kronengold, chief digital officer at Authentic. "We're thrilled to partner with Reshop to continue to improve the overall post-purchase experience for shoppers, offering them greater flexibility through instant refunds."
The phased rollout is beginning with Authentic banners Reebok, Champion, Vince Camuto and Juicy, to be followed by additional brands such as DC Shoes, Roxy, RVCA and Volcom.
Other examples of Authentic deploying technology to improve customer experience across multiple brands include enhancing online merchandising, search and personalization with artificial intelligence technology from Fast Simon; as well as providing consumers SMS text interaction with select retailers in its portfolio.
[Read more: Authentic Brands Group offers text-based shopping for key banners]
"We're seeing half of our customers go back to the original merchant for repeat purchases and often incredibly fast, with the majority of repeat purchases happening in less than 24 hours and in some cases as little as one minute,” said Anthony Eisen, CEO of Reshop. “It's exciting to see how instant refunds are driving that behavior, and we can't wait to expand this experience to even more customers through our partnership with Authentic.”
Authentic owns more than 50 global brands, generating approximately $32 billion in annual systemwide retail sales. The company's portfolio includes Reebok, Champion, Nautica, Elvis Presley, Eddie Bauer, Aéropostale, Lucky Brand, Nine West, Brooks Brothers, Juicy Couture, Vince Camuto, Quiksilver, Billabong, Sperry, Hunter, Ted Baker and more.
