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In an effort to drive customer loyalty, retailers are stepping up their game when it comes to the ease of returning items: special ‘returns’ entrances, pop up kiosks at the mall for items purchased online, year-long deadlines, third-party apps, and label-free returns are among the options. But a happy return for the customer is a logistical nightmare for the retailer, and one that’s costing billions of dollars in efficiency: in 2017 the value of retail returns amounted to around $400 billion; that’s a 53 percent increase from 2015.
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Within the last few months, Big Lots, Channel Control Merchants, and American Freight have each announced bankruptcy. The immediate future looks different for each of these organizations, and while these developments were somewhat expected to those in the know, they’re…
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