Concept: NY’s startup Returnity Innovations (Returnity) has introduced reusable shipping and delivery packaging solutions to help retailers and brands in avoiding massive amounts of cardboard and plastics from being recycled. Its 3P Platform enables reusables to be the best option in terms of operational efficiency, cost savings, and environmental impact.
Nature of Disruption: Returnity customizes the system and packaging to the specific requirements of each client. It manufactures the exact specifications for size, content protection, and branding, all while optimizing for the client’s system. The platform develops low-cost reaggregation systems and solutions with high participation rates. Companies can determine how many uses per package are required to meet environmental and financial targets. The reusable packaging partners must demonstrate how they can achieve the return rates required to meet those goals, ideally by highlighting recent success. It would then measure adherence to that aim by testing and monitoring real-world performance. Returnity packaging is designed to be recyclable, has a low carbon footprint, requires less cleaning, and is made from bio-based materials.
Outlook: Reusable packaging is both environmentally and economically beneficial. Companies can save money on raw materials, energy, and labor by decreasing the need to make single-use packaging. They are tougher and more durable than single-use packaging since it is designed for repeated usage. Thus, it requires more materials and energy to make, and it takes time to reassemble, clean, and stage for the next usage. Returnity aims to reduce environmental impacts with its reusable shipping packaging solution. It’s more prevalent for companies with a natural send-and-return strategy, such as the fashion rental industry, regular food deliveries, and other firms that have a regular delivery or pickup model. Walmart, New Balance, Estee Lauder, and Rent the Runway are among the startup clients. In February 2022, it raised $3.1M from Brand Foundry Ventures, with plans to utilize the money to strengthen its product and marketing strategies, grow its operations, and standardize its onboarding process.