The Return Exchange Changes Name To The Retail Equation
Repositioning Reflects Company's Growth Beyond Return Analytics and Expansion of Solutions for Retailers
The Return Exchange, the industry leader in retail transaction optimization solutions, today announced its official name change to The Retail Equation. The company's Return Rewards™ incentive program, Verify-1® return authorization and other technology offerings have made the company's solutions an integral part of the way retailers optimize return transactions. The Retail Equation is now well-positioned to offer the same world-class scientific analytics to all retail transactions as demand for innovative programs continue to spur the company's growth.
"This is an evolution of our business; we have experienced tremendous success working with our retail partners to optimize their return transactions and to help them identify associated return trends and behaviors," said Mark Hammond, chairman and CEO of The Retail Equation. "What we've come to understand is that there is even more we can do for our clients to help them optimize every transaction in their stores, not just the returns. By repositioning our company and building on the power and versatility of our statistical models and predictive analytics, we are ensuring that each of our retail clients has the best possible tools at their disposal, upon which to generate a material increase in revenue and profits."
Through its many product offerings, The Retail Equation helps build customer loyalty by rewarding good shoppers, while concurrently combating the retail industry's significant fraud and abuse problems. With clients in nearly every shopping mall in the country, The Retail Equation is already playing a critical role in combating return fraud, a problem that costs retailers in excess of $17 billion each year.
"We are fortunate to have such a loyal and diverse group of clients," said Hammond. "Eliminating fraud and its associated costs is and always will be among our highest priorities. As The Retail Equation grows and evolves, our core will not change. Our clients and their financial well-being will always be foremost in our continued innovation."
About The Retail Equation
The Retail Equation, headquartered in Irvine, Calif., is the industry leader in retail transaction optimization solutions. The company's applications use statistical modeling and analytics to predict consumer behavior, and its software-as-a-service delivery enables retailers to achieve significant and measurable return-on-investment. The Return Rewards™ solution creates significant incremental sales at the return counter, while also building customer loyalty. Both Verify-1® and Receipt Verification™ prevent fraudulent and abusive returns, reducing return rates and saving millions of dollars annually for retailers. For more information, visit www.theretailequation.com.
Source: The Retail Equation