Happy Returns is a 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 third-party locations known as "Return Bars" including Staples Inc., Cost Plus World Market, and Petco stores,[1] with specific locations searchable on Happy Returns’ website. Consumers can receive their refunds without packaging items, printing and affixing labels, or waiting for mailed packages to reach their destination.[2]
 | |
| 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 |
The company facilitates returns for many brands, including Levi's, Revolve, Everlane, Lands' End, Gymshark.[3] Amazon later developed a similar program in conjunction with Kohl’s stores to accommodate its shoppers.[2]
Happy Returns aggregates and ships returns from its return locations to warehouse hubs, where returns are sorted, processed, and dispositioned, and then bulk shipped back to merchant warehouses.[citation needed] Waste is reduced because shoppers do not need to use a new box to ship out returns.[4][5]
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. Happy Returns opened its first Return Bar location in April 2016.[6]
In June 2021, Happy Returns was acquired by PayPal.[7]
In October 2023, it was announced Happy Returns had been acquired by UPS from PayPal[8] for $455 million.[9]
References edit
- ^ "How e-commerce brands can scale logistics sustainably". Vogue Business. 2021.
- ^ a b Del Rey, Jason (2020). "Online shopping is booming but so are returns. An old-school solution is gaining steam". Vox.
- ^ D'Innocenzio, Anne (2020). "Retailers brace for flood of returns from online shopping". AP News.
- ^ Benveniste, Alexis (2020). "Soon FedEx won't require boxes and labels when you make some returns". CNN Business.
- ^ Mull, Amanda (2021). "The Nasty Logistics of Returning Your Too-Small Pants". The Atlantic.
- ^ Rogers, Kate (2017). "A start-up's plan to take the headache out of online refunds". CNBC.
- ^ Rooney, Kate (2021-05-13). "PayPal to buy online returns start-up in its latest run at the retail shopping space". CNBC. Retrieved 2022-01-22.
- ^ "UPS Acquires Happy Returns". The Business of Fashion. 2023-10-25. Retrieved 2023-10-26.
- ^ "PayPal's Q3 2023 Earnings Call". PayPal investor relations. 2023-11-01. Retrieved 2023-11-01.