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For retailers, returns are a necessarily evil that comes at the end of each holiday shopping season, but it appears even more holiday purchases are being returned this time around.
That's because American consumers did more of their holiday shopping online in 2016, and online purchases are returned in greater numbers, compared to traditional in-store purchases.
Amazon recently reported that 2016 was a record-breaking year for online holiday shopping; the company shipped more than a billion items worldwide during the holiday season. eMarketer projected online stores rang in a record $94 billion in sales this holiday season, up 17 percent from last year.
The company - and its competitors - are now facing a wave of returns, as customers re-box their items and ship them back. A new report from the commercial real estate firm CBRE found that about 8 percent of items purchased in brick-and-mortar stores are typically returned or exchanged, but online purchases are returned twice or three times more often....
Jan 5 – National Return Day. Pity the poor retailers where 8% of goods purchased in-store are returned vs. 24% from online purchases.