Supplyai

supplyai | cognified commerce - turn returns into a profit opportunity. supplyai is building the world’s 1st ai-powered platform for detection and prevention of retail returns. according to the us department of commerce, e-commerce sales in the us totaled over $97 billion during q2 2016, representing nearly 16% year-over-year (yoy) growth. the ecommerce retail apparel and accessories sales growth alone is 19 % for 2016. even though, one of the fastest growing industries a major problem that plagues the retail industry is - returns. each return costs a retailer an average of ~$28 per product returned. studies have shown that retailers face up to 25-30 % worth of returns of their total revenue which is mostly written off since there are no clear end to end solutions for predicting and preventing these returns. this year, at supplyai, we are helping leading retailers retain an approximate of $60mn of their top line revenue and reduce return rates. our technology is based on automated mach