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The holiday season is right around the corner and will mark a huge boost in revenue for most retailers: holiday sales can account for as much as 30% of total annual revenue. But on the heels of the biggest shopping season of the year, comes a barrage of returned merchandise that will end up significantly cutting into the bottom line without a proper strategy in place. This season in particular will bring higher return rates as more consumers than ever are expected to shop online (e-commerce return rates are almost double that of brick-and-mortar stores).
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…