Excess and customer-returned inventory is a rapidly growing problem. Excess inventory is valued at $1 Trillion in our global economy. eCommerce alone generates 15 billion pounds of waste each year. In the fashion industry alone, as much as 85% of excess inventory ends up either dumped in landfills or burned. Finally, customers return $120 Billion worth of goods between Thanksgiving and the end of January resulting in about 6 billion pounds ending up in the landfill each year!
Needless to say, this is a significant issue for product suppliers, our environment, and our world.
With so much excess, yet still, so much need around the world, it’s unfortunate that so much inventory continues to end up in the landfill.
But it doesn't have to...
Sustainability is now a priority for corporations and consumers
Not sure what Sustainability Means?
According to the US Environmental Protection Agency (EPA), “Sustainability is based on a simple principle: Everything that we need for our survival and well-being depends, either directly or indirectly, on our natural environment. To pursue sustainability is to create and maintain the conditions under which humans and nature can exist in productive harmony to support present and future generations.”
While this is a HUGE problem, it’s not all bad news.
There are three organizations with sustainability top of mind and are committed to helping the consumer goods industry by ‘doing good’ with their excess, diverting it from the landfill, and making a real difference in people's lives everywhere.
Three Companies Making a Difference
While these companies have some similarities, they also have differences with unique business models and company mandates as described below.
The great news is that all of these companies help corporate suppliers with their Environmental, Social, and Governance (ESG) goals.
Listed in alphabetical order.
1. EALgreen
Business Model:
Suppliers donate customer returns and surplus inventory to colleges that could use it. The colleges then give scholarships to students with financial needs equal to the value of goods.
Overview:
EALgreen work with corporations to transform their excess and landfill-bound inventory into opportunities for institutions of higher learning to obtain much-needed equipment. These colleges and universities then create scholarships for needy students to make it possible for them to pursue their own, personal transformation. The result: companies reduce waste, schools thrive, students prosper, society is strengthened and the environment is preserved.
Business Type: Non-Profit
Founded: 1982
Supplier provided with tax benefit.
2. Good360
Business Model:
Suppliers donate essential goods to Good360. Good360 then works with its network of 100K+ non-profit partners to distribute donated goods to people in need.
Overview:
Good360's mission is to close the need gap. As the global leader in product philanthropy and purposeful giving, we partner with some of the world’s largest corporations to source essential goods and distribute them through our network of diverse non-profits, supporting people in need to open opportunities for all.
Business Type: Non-Profit
Founded: 1983
Supplier provided with tax benefit.
Business Model:
Suppliers sell excess, refurbished, and customer-returned inventory to The Charity Hub. TCH then responsibly liquidates the product through its global buyer network (without negatively impacting regular distribution channels), and then donates 50% of net profits to a charity or Foundation of the supplier’s choice.
Overview:
The Charity Hub (TCH) offers a unique triple-impact liquidation solution that helps companies support their corporate social responsibility and raise their Environmental, Social, and Governance (ESG) profile by buying excess, refurbished, and customer-returned inventory and liquidating it to create charitable donations. As a Broker for Good, TCH makes it easy for global manufacturers, distributors, retailers, warehouses, and insurers to responsibly liquidate inventory by coordinating all logistics and sales, and then donating 50% of TCH’s net profits to the suppliers’ preferred charity or Foundation on their behalf. Inventory is no longer taking up valuable warehouse space, goods are diverted from the landfill, and corporate suppliers increase donations to their chosen cause(s). Our expertise is moving inventory, our power is giving back.
Business Type: Social Enterprise
Founded: 2021
Supplier provided with flexible write-down/write-offs
Partner with The Charity Hub to Magnify Fundraising Efforts
Some corporate suppliers may choose to partner with one, some, or all of these organizations to increase their impact. Fortunately, you don’t have to choose just one. Suppliers may choose to partner with The Charity Hub which will gladly donate 50% of net proceeds from the supplier’s product liquidation to EALgreen and/or Good360 to magnify our collective fundraising efforts.
Summary
Fortunately, there is a good news story out of this excess. Brilliant concepts come from creative problem-solving and the collective effort by socially responsible companies committed to giving back to our communities to truly make a difference and pay ‘good’ forward.
Learn More about The Charity Hub
If you're a corporate supplier looking to turn excess into impact with The Charity Hub, contact us TODAY!
Other Insight
About The Charity Hub
The Charity Hub (TCH) offers a unique triple-impact liquidation solution that helps companies support their corporate social responsibility and raise their Environmental, Social, and Governance (ESG) profile by buying excess, refurbished, and customer-returned inventory and turning it into charitable donations.
As a Broker for Good, TCH makes it easy for global manufacturers, distributors, retailers, warehouses, and insurers to responsibly liquidate inventory by coordinating all logistics and sales, and then donating 50% of TCH’s net profits to the suppliers’ preferred charity. In 18 months’ time The Charity Hub has created close to $500,000 in charitable funds and prevented hundreds of trailer loads from ending up in landfills. Our expertise is moving inventory, our power is giving back. To learn more about turning excess into impact and liquidating for a good cause, contact The Charity Hub.