Retail Now Able To Tackle The $90 Billion Holiday Returns Through Technology

As holiday returns and exchanges continue to roll in, it’s likely many retailers and brands are feeling the pinch. Free shipping and returns policies — once considered a perk are now standard in the online retail industry, promoting consumer behaviors that drive up costs for retailers and negatively impact profits. And it’s only getting worse. Online sales are still only around 10% of total commerce, but are growing at a rapid pace: RBC Capital predicts online sales to account for 24 percent of total sales by 2027. Much of this growth is thanks to Amazon Prime — its free shipping and returns have created an expectation quickly adopted and now demanded by consumers. With many retailers following Amazon’s footsteps over the past few years to accommodate this new norm, consumers now expect that all purchases made online will include not just fast delivery, but also free shipping and returns. Read more at Forbes.