Retail Brands Can Solve The Problem Of Returns With Data-Driven Insights

by MR Magazine Staff

The shift in consumer behavior has led to an astonishing increase in online sales for retail brands. There were over $400 billion of retail e-commerce sales in 2017. This number is predicted to rise to nearly $650 billion by 2022. This is great news for retail brands serving up products to online consumers, but this shift has also increased the number of returns made on online purchases. According to one report, more than one-third of online retail purchases are returned annually. To understand the problem of increasing online returns and subsequent profit loss for retail brands, the “why” must be examined. Read more at Forbes.