Dean Summers, founder and former president of replacement part resource Partsearch Technologies (see story, p. 90), has formed a new venture, CEInteractive (CEI), which will help retailers and vendors address the challenge of product returns.
“Electronics retailers see between $12 billion and $15 billion in CE product returns annually,” Summers said, “and less than five percent of that returned product is actually defective.” He attributes high CE return rates to consumer inability to master complicated devices, particularly convergence products like DVD recorders. CEI will tackle the issue with a combination of proprietary technologies and services rolled into a single application designed to maximize the consumer's experience.
“Not only will retailers and manufacturers benefit from lower returns, but the solution also provides an incremental revenue stream, which will increase profits,” Summers said. CEI will make its industry debut at the Venetian Hotel this week during the Consumer Electronics Show. For more information, contact Summers at (908) 904-9020.