Notes

Lost Merchandise-A Tinder For Clothes
Lost Merchandise
Over the past few years, retailers have realized how important it is to reduce inventory and find ways to keep unwanted goods out of landfills. This trend is most apparent during the holiday season, when retailers are trying to stay competitive with online competitors and rely on customer loyalty.

Retailers are realizing the importance of rethinking their supply chains and business models to reduce their inventory footprint. This is especially true for clothes and shoes, which have higher returns than other merchandise.

New businesses are popping up to help retailers get rid of unwanted merchandise and recycle it. This helps keep costs low and the environment clean. Lost Merchandise (a "Tinder for clothes") is an example of such a company. This company aims at bringing together cancelled garments from high street retailers with UK consumers.

Customers need to sign up for a clothing box, choose a size (for women or men) and answer a few questions about themselves. The box will then determine what items are included. A selection of tops and t-shirts will be included in the box.

These items are then shipped directly from Bangladesh from manufacturers to UK consumers. Each box contained three tops and a t-shirt, as well as a jacket, that retailed at PS35. The boxes are sold to raise money to pay fair prices to factories and provide food aid for one week to families in Bangladesh.

In order to ensure transparency in worker pay, the company has partnered with an NGO. The factory will receive vouchers in the amount of $94 per worker from the NGO, which avoids cash disbursement issues that can occur in some parts of Bangladesh.

Lost Stock offers workers a payment plan similar to that offered by many of the top NGOs in the world. This avoids the potential problems that may arise when workers are forced to work without pay or given bribes to keep production moving.

Although this might seem like a great way to reduce the amount textile waste ending up in landfills it has its ethical problems. Remake points out that when consumers purchase these boxes of clothes they aren't actually purchasing "lost" stock. Instead, they are buying products that were stolen from the garment workers.

This is a problem the fashion industry faces right now as more and more retailers cancel orders due to low sales. This is creating an environmental and human rights crisis. Remake has more than 240,000 signatures to its #PayUp petition asking major brands for workers' wages.

There are over 1 million holiday returns each day, so this is an important issue that must be dealt with immediately. Retailers are exploring new ways to manage the many returns that make up so much their inventory.
Read More: https://www.lostmerchandise.store/