US consumers are handing back huge volumes of unwanted purchases, souring a record-setting holiday season for retailers and deepening a financial, environmental and customer service dilemma for brands.
Retail returns surged 78 per cent to $761bn between 2020 and 2021, according to a National Retail Federation survey released on Tuesday. Last year 16.6 per cent of all retail sales were sent back compared to 10.6 per cent a year earlier, the survey found.
For the peak holiday season in November and December, retailers expect returns to have jumped by more than half from $101bn to $158bn, the NRF reported. That growth far outstrips the estimated 14.5 per cent rise in retailers’ holiday sales last year.
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