This website uses cookies to improve your experience. By viewing our content, you are accepting the use of cookies. To find out more and change your cookie settings, please view our Privacy Policy.
With each year and each holiday shopping season that passes, global retail ecommerce sales attain a new record. According to forecasts released in February 2019 by Statista, ecommerce sales in the United States have grown from about $468 billion in 2017 to about $550 billion in 2019, and will grow to more than $740 billion in 2023.
In Retailers Brace for Returns This Holiday Season, published by eMarketer on December 12, 2018, the author states: “According to data from B-Stock Solutions, a liquidation platform founded in 2008 by the team that built eBay’s private marketplace business, around 11% to 13% of holiday purchases are returned with closer to 30% of online purchases being sent back. By their estimates, between $90 billion to $95 billion in holiday gifts will be returned this year.” Before you get tempted to think that is a temporary blip, B-Stock Solutions estimates that “77% of shoppers are anticipating returning some of their gifts this season [2019], and nearly 20% expect to return more than half. In total, that will equate to more than $90 billion in returns this holiday season.”
Today’s consumer purchases happen more rapidly than ever, making returns an unavoidable aspect of the shopping experience. Every year, billions of dollars worth of returned goods make their way back to retailers, often resulting in excess inventory. Many of these…