Purpose Despite the numerous challenges, omnichannel retailers often overlook returns management and reverse logistics, and there is a lack of literature addressing these challenges. This systematic review summarizes the existing research in these areas, highlights diverse themes based on the decision problems within each phase of an omnichannel supply chain from a closed-loop perspective, and proposes future research directions through a conceptual framework. Design/Methodology/Approach We consider 22 articles published between 2016 and 2023 for the systematic review. The investigation includes categorizing papers into five themes and expanding on the consequences of various challenges associated with each theme by adopting a closed-loop perspective for an Omnichannel Supply Chain. Findings The study's findings indicate a scarcity of literature on returns management and reverse logistics in OC, suggesting that this subject of study is still in its infancy. The review clearly highlights the need to address the forward and reverse flows of an OC jointly to consider an Omnichannel Closed Loop Supply Chain for optimal results. The proposed framework adopts a closed-loop view of the omnichannel supply chain and outlines thematic future research directions. Limitations We restrict the review to publications that are indexed in the Web of Science and Scopus databases and to English-language articles. Future systematic reviews may include papers from more databases, such as ScienceDirect, ProQuest, and others, as well as publications written in other languages. Originality/Value and Implications This review provides practitioners with valuable insights into the key challenges of returns management and reverse logistics in omnichannel retailing, emphasizing the importance of a closed-loop perspective. Theoretically, it contributes to the literature by introducing a new closed-loop approach that integrates forward and reverse flows, and it identifies future research opportunities in this area.