Channel: CNBC

Category: News & Politics

Tags: cnbcstocksnews channelecommerceamazon returnscablejeff bezosshoppingnewsprimeone-day shippingbusinessnews stationstock marketamazon deliveryamazon dspcable newsworld newsamazonfinance stockfinancial newsmoneyfinance newsus newsstock market newsbreaking news

Description: While Amazon’s dominance grows, so does its number of returns, and that’s causing a massive problem for the e-commerce giant and the planet. A National Retail Federation survey found that across all retail, a record $761 billion of merchandise was returned last year. Returns from retailers created an estimated 5.8 billion pounds of landfill waste, according to solution provider Optoro. Now, Amazon has committed to a “goal of zero product disposal,” while still making returns increasingly free and easy, from boxless returns to simply telling customers to keep some items. CNBC’s Katie Schoolov wanted to find out how Amazon plans to solve the problem, so she sat down with Cherris Armour, Amazon’s head of North American returns, for her first ever public interview. Chapters 00:00 -- Intro 2:02 -- Good for business, bad for the planet 5:08 -- Donation, liquidation, resale 9:59 -- Cutting costly reverse logistics 13:16 -- Disincentivizing returns » Subscribe to CNBC: cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: cnbc.com Follow CNBC on LinkedIn: cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: cnb.cx/LikeCNBC Follow CNBC News on Twitter: cnb.cx/FollowCNBC Follow CNBC News on Instagram: cnb.cx/InstagramCNBC #CNBC Amazon’s Plan To Fix Its Multi-Billion Dollar Returns Problem