Going into 2020, the retail world was already dealing with tremendous growth in merchandise returns.
Driven by increased online sales coupled with customer friendly return policies, these factors are creating an ever-growing financial strain on retailers.
By the end of 2019 this figure had reached over $1 trillion worldwide. Every return is a pressure point on retailers’ margins. Even if the item can be resold, the increased handling of the items chips away at the margin. If items must be discounted, this further exacerbates the problem. How are retailers to deal with this coming tsunami?
Read leading industry firm IHL’s latest research on the topic, learn the five key aspects retailers need to consider when it comes to handling returns.