Whether you're buying presents for someone else or a treat for yourself, where you get your items matters. It's not just about the price, packaging, and shipping time, though. You also need to make sure you can return any items that don't work for you, come in damaged, or you just don't like. Fast, efficient,...
In 2024, shoppers are projected to return an eye-popping $890 billion worth of merchandise, edging closer to the $1 trillion mark for the first time. According to the National Retail Federation (NRF) and Retail Dive, returns will account for 16.9% of annual retail sales, creating a massive financial burden for businesses. This rising volume of returns is now forcing retailers to...
You may want to return the ugly sweater, the book you already read, or the car care kit you do not need after the holiday season. Well-meaning but misplaced purchases often leave gift recipients wishing they had the cash for the item instead. Yet, consider a bit more about which products are the most returned...
In 2023, retail returns totaled $743 billion in the US, approximately 14.5 percent of all retail sales that year. Additionally, about 14 percent of all returns are fraudulent. As retail fraud continues to rise, business owners are implementing various strategies to help combat and reduce the effects of the loss. Continue reading to learn more...
Online shopping has officially replaced in-store shopping as the preferred method for consumers to buy what they need. Global e-commerce players like Amazon and Shein are two of the biggest names in online retail and handle millions of orders every week. In fact, Amazon’s daily sales revenue is estimated to be a staggering $1.4 billion....
In recent years, consumers have started to rely more on online shopping to purchase items, saving them from having to travel to a brick-and-mortar location to shop. According to the National Retail Federation, a little more than 26 percent of all purchases in 2022 were made online, accounting for $1.29 billion. As the number of online...
E-commerce sales continue to rise, with online retail sales increasing by 2.3 percent, up to $284 billion. According to the National Retail Federation, businesses incur approximately $165 million in merchandise returns for every $1 billion in sales. As retail companies expanded their sales force to include online stores, the return and exchange policies continued to evolve. According to...
If you run an online store, you know how important it is to have a clear and customer-friendly return and refund policy. A good policy can boost your sales, increase customer loyalty, and reduce disputes. But how do you write a return and refund policy that works for your business and your customers? In this...
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