Woman-Led Startup Solves Retail Returns Crisis, Named Fast Company World Changing Idea and to the Leading 100 Second Year in a Row
SAN FRANCISCO, May 14, 2024 — LiquiDonate, the climate-tech startup that transforms unsellable inventory, like returns, into charitable donations, proudly announces its recognition in Fast Company’s 2024 World Changing Ideas Awards and to the Leading 100 list for the second year in a row. LiquiDonate’s innovative software, Magic Matches, is acknowledged for its exceptional contribution to sustainability and social impact in the retail industry.
LiquiDonate’s Magic Matches marks a significant step in addressing the returns crisis plaguing retailers worldwide. With an annual cost exceeding $816 billion, returns present a substantial financial burden to retailers, while contributing to environmental degradation through landfill waste and shipping emissions. LiquiDonate’s solution directly confronts these challenges by redirecting unsellable inventory, like returns, from retailers to nonprofit organizations in need, fostering a circular economy and mitigating waste.
“Our mission at LiquiDonate is to revolutionize the retail industry by harnessing the power of technology to drive positive change,” said Disney Petit, CEO and Co-Founder of LiquiDonate. “Being honored by Fast Company and The Lead underscores the impact of our efforts to empower retailers to make a meaningful difference in their communities while reducing their environmental footprint.”
LiquiDonate’s Magic Matches platform has achieved a significant milestone since its launch, facilitating the matching of over 9 million items valued at $33 million from over 80 participating retailers to nonprofit recipients. Notably, retailers utilizing Magic Matches for returns have experienced an average of an 83% reduction in returns shipping distance, effectively addressing scope 3 emissions.
The impact on retailers’ bottom line is equally noteworthy. Traditionally, the average return costs a retailer $15 in lost revenue and logistics expenses. However, returns processed through LiquiDonate cost only $0.06 on average. This drastic reduction is primarily attributed to minimized logistics costs and potential tax deductions, demonstrating the platform’s efficiency and financial benefits for retailers.
LiquiDonate’s Magic Matches software not only reduces retailers’ operational costs and carbon emissions but is also designed to provide needed support to nonprofits and schools in all 50 states. By facilitating in-kind donations of valuable goods, it helps nonprofits provide essential items, ease healthcare expenses for seniors, and aid disaster relief efforts. The platform’s membership has surged from 132 in 2022 to over 3,700 in 2024, demonstrating its transformative impact.
Nonprofit organizations face mounting pressure to trim overhead costs while striving to fulfill their missions within tight budgets, especially as the demand for human services continues to escalate. In the United States alone, nonprofit organizations allocate nearly $1 billion annually for essential supplies and services.
Looking ahead to 2024, LiquiDonate is steadfast in its commitment to broadening its influence and fostering positive change. With a clear focus on facilitating countless more donations by offering donation as a disposition option for retailers, LiquiDonate is primed to continue its mission of revolutionizing the retail industry.
About LiquiDonate:
LiquiDonate is a San Francisco-based tech startup working to advance the circular economy through innovative technology solutions. Its flagship software, Magic Matches, empowers retailers to convert returns and liquidated inventory into charitable donations, fostering a circular economy and driving positive social and environmental impact. With a commitment to transparency, sustainability, and social responsibility, LiquiDonate is reshaping the future of retail for the betterment of communities worldwide.
