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Now is the time to start taking down the lights from the windows and haul the Christmas tree to the curb, while stealing glances at the sweater from your aunt that you’ve been meaning to send back to the store. Shoppers returning gifts have long kept retailers busy during the first week of January, but as more shopping shifts online, delivery companies like UPS and FedEx are seeing a bump in business as well.
UPS expects returns to peak today on what it calls National Returns Day, with holiday shoppers projected to return 1.3 million packages with UPS today and more than 5.8 million packages during the first full week of January.
The numbers are hard to ignore. According to the National Retail Federation, retailers expect ~16% of annual sales to be returned, roughly $850 billion in merchandise. According to McKinsey & Company, it’s forced retailers to spend an estimated $200 billion…
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When returned and unsold goods tie up working capital and force write-downs, they quietly erode margins, delay cash conversion, and impact financial performance every single day. Discover how finance teams are turning to technology-driven B2B resale platforms to: Improve recovery…