Major retailers tighten return policies ahead of holiday season

Nov 7, 2024 · The new return policy exception affects less than 0.02% of members who show a pattern of policy abuse, with an average 79% return rate and $1400, in used returns annually, the statement added.

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Major Retailers Tighten Return Policies Ahead Of Holiday Season

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Returns Are An $890 Billion Problem For Retailers - NBC News

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Dec 8, 2024 · Even though returns happen throughout the year, they are much more prevalent during the holiday season, the NRF also found. As shopping reaches a peak in the weeks …

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Retail Returns Surge To $890 Billion: How Retailers Are ... - Forbes

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Dec 8, 2024 · The holiday return rate is estimated at 20.4%, according to the NRF and Happy Returns. Retailers are balancing. customer service expectations with high return costs.

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Shoppers Love The Era Of Free Returns. Retailers, Not So Much.

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Dec 8, 2024 · Retailers are hiring staff to handle returns, which are expected to be nearly 20% higher more than normal during the holiday season, the National Retail Federation said.

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The Holiday Gift Return Rush Has Started. Here's What To Know …

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Dec 27, 2024 · Holiday returns rush The NRF expects about 17% of sales to be returned this year, which peak between now and Jan. 2. Last year, e-commerce purchases were the most …

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NRF And Happy Returns Report: 2024 Retail Returns To Total $890 …

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Dec 5, 2024 · “Retailers recognize the value of returns and their integration with brand loyalty, and many are prioritizing their returns capacity to ensure a seamless customer experience.” ...

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'Returnuary' — After The Peak Shopping Season Comes The Busiest …

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Dec 24, 2024 · After this season's peak shopping days, retailers expect their return rate to be 17% higher, on average, than usual.

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Holiday Returns Expected To Reach $160 Billion This Season: …

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Nov 26, 2024 · With the holiday shopping season underway, a new report from CBRE projects a staggering $160 billion—roughly 16% of all holiday retail sales—will be returned this year.. …

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Holiday Return Season Begins; What You Need To Know About …

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Dec 26, 2024 · The National Retail Federation expects more than $890 billion worth of returns this year. That will account for about 16.9% of the annual sales this year. “Returns play an …

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Consumers Slated To Return Nearly $900 Billion Of Merchandise In …

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Dec 9, 2024 · Retailers continue to struggle against an age-old issue: returns and reverse logistics. New data from the National Retail Federation and Happy Returns, a UPS-owned …

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Consumers Could Return $82.1B Worth Of Holiday ... - Retail Dive

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Dec 29, 2023 · The rise of e-commerce, which the National Retail Federation predicts could reach between $273.7 billion and $278.8 billion this holiday season, has led to increased returns.

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FAQs about Major retailers tighten return policies ahead of holiday season Coupon?

Are retail returns more common during the holiday season?

Even though returns happen throughout the year, they are much more prevalent during the holiday season, the NRF also found. As shopping reaches a peak in the weeks ahead, retailers expect their return rate for the holidays to be 17% higher, on average, than the annual rate. ...

Should retailers reduce the percent of returns for the holidays?

As shopping reaches a peak in the weeks ahead, retailers expect their return rate for the holidays to be 17% higher, on average, than the annual rate. “Ideally, I hope there is a world in which you can reduce the percent of returns,” said Amena Ali, CEO of returns solution company Optoro, but “the problem is not going to abate any time soon.” ...

How have retail returns changed over the past 5 years?

Overall returns over the past five years have grown significantly. In 2019, the return rate was 8.1% of total retail sales, but as the COVID pandemic closed non-essential retailers starting in early 2020, the U.S. experienced a major shift to online shopping. Return percentages increased from 10.6% in 2020 to 16.5% in 2021. ...

What percentage of holiday purchases are returned?

The $148 billion represents about 15.4 percent of all the merchandise purchased over the holiday season. That’s lower than last year, when customers returned 17.9 percent of holiday purchases. The estimated sum of returns for all of 2023 — $743 billion — decreased, too, from $816 billion in 2022. ...

Are returns a problem for retailers?

Returns in 2023 created 8.4 billion pounds of landfill waste, according to Optoro. That presents a major challenge for retailers, not only in terms of the lost revenue, but also in terms of the environmental impact of managing those returns, said Rachel Delacour, co-founder and CEO of Sweep, a sustainability data management firm. ...

Does a fictional retailer have a restocking policy?

We examined their reactions to the fictional retailer’s return policy restrictions, such as charging a 15% restocking fee and limiting open-ended return windows to 365, 180 and 30 days. Participants became less willing to buy anything from the fictional retailer after it restricted its long-standing lenient return policy. ...