U.S. retailers are bracing for more returns than usual, adding stress to an industry already grappling with increasing labor costs and supply-chain issues.
Shoppers are expected to return more than $761 billion in merchandise sold last year, representing about 16.6% of total U.S. retail sales, according to a survey of retailers released Tuesday. That’s up from 10.6% during 2020.
Fraudulent returns, which include counterfeit receipts and when a customer returns something after using it, were among the main challenges cited by those surveyed. They also noted logistics costs, inventory-tracking headaches, shipment delays and the hassle of sending products back to warehouses. Continue Reading