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With the holidays officially behind us, ‘tis the season of returns. In fact, UPS has dubbed January 2nd, National Returns Day. They expect to move a record-breaking 1.9 million parcels across their network today– up 26% from last year’s peak returns day. In fact, this year will mark a seventh consecutive record-breaking day! An estimated $90 billion worth of merchandise is being returned to retailers and online purchases account for half of that amount. And this number is only expected to grow year over year.
Research continues to show that to succeed in eCommerce retailers must offer comprehensive (and competitive) returns services. A recent UPS survey reveals:
With another record-setting year for eCommerce returns, this illustrates how eCommerce is continuing to change the way people shop for the holidays…and all year round.
Is your small business ready for post-holiday returns? To get advice on how to prepare, read our article National Returns Day is Coming…How Does Your Return Policy Stack Up?