How much money do retailers lose due to returns?

The survey found that for every $1 billion in sales, the average retailer incurs $106 million in merchandise returns. Additionally, for every $100 in returned merchandise accepted, retailers lose $5.90 to return fraud.

Do retailers lose money on returns?

In a report focused on the losses due to returns, IHL Group estimated that worldwide, retailers lose more than $600 billion each year to sales returns.

How much money do returns cost retailers?

According to the “2019 Consumer Returns in the Retail Industry” report, the overall value of returned merchandise in the United States during the past year was $309 billion, and the cost of returns from online purchases accounted for $41 billion of that total.

What percentage of clothing is usually returned after the holidays?

According to a MarketTools report from 2014, clothing was the most returned item overall, boasting a whopping 62 percent of all returns for the holiday season.

How important is free returns?

88\% of consumers say free return shipping is an important factor in their purchase decisions; 81\% are less likely to make repeat purchases at retail sites that charge them for return shipping; 41\% are more likely to make an online purchase if the retailer offers free returns; and.

How bad are returns for the environment?

The impact of returns They rewind their way back through a network of middlemen and resellers and often ultimately end up in landfill. Their overall transportation goes on to contribute a staggering 15 million metric tons of carbon dioxide into our atmosphere, which is detrimental to the environment and our health.

What is the most returned item after Christmas?

The Most Returned Christmas Gifts

• Sweets.
• Pricey Electronics.
• Fragrance.
• Candles.
• Toddler Clothing.
• Expensive Jewelry.
• Art Pieces.
• Graphic T-Shirts.

What percent of Amazon items are returned?

The average return rate on Amazon ranges between 5\% to 15\%, but the return rate for some categories, including consumer electronics and clothing, can get as high as 40\%.