Shopping surges over the holiday season brought higher returns volumes, costing retailers significant financial burdens to process unwanted items. Compounding the issue, online shopping has soared in recent years, with return rates hovering between 20 percent to 30 percent. To offset rising costs of reverse management, many retailers are adjusting policies to incentivize in-store returns,…
Fara Alexander
Returns cost retailers hundreds of billions of dollars each year. Return rates continue to rise each year as a result of online shopping, customer-centric return policies and, now, COVID-19. Since the onset of the pandemic, consumers are avoiding stores and shopping online even more than before. In fact, eMarketer predicted online sales to grow by…