How Retailers Can Support Sustainable Returns
Returns may be primed for change. Returns have always played a part in retail operations, as companies strive to make them painless in the name of customer service. The pandemic has sped everything up, though, including e-commerce, which heavily contributed to the rate of returns last year. The National Retail Federation said consumers returned an estimated $428 billion in merchandise in 2020. That means for every $1 billion in sales, the average retailer is incurring $106 million in merchandise returns. Up until now, retail’s response to this topic has been to make returns as easy as possible for shoppers. While many companies see it as a part of doing business or simply decide to take the financial hit that returns create, expectations around returns may not be sustainable for the environment or as a long-term business model. Read more at Retail Dive.
