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Welcome to the retail returns season — the much less popular sibling of the holiday retail sales. Every year roughly $260 billion worth of stuff bought at retail is returned, 25 percent of which is returned after Christmas, according to industry estimates — everything from ugly sweaters and ill-fitting pants to that thoughtless hot plate and pingpong table that just won’t fit in the basement.
Total annual returns equal 7 percent of everything sold in the US in a year, not counting autos and car parts.
“The return season is in full swing,” said Eric Moriarty, vice president of B-Stock Solutions, which operates an auction Web site that connects retailers like Walmart, Costco and Amazon with resellers.
More from the B-Stock Blog
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Holiday Returns: By the Numbers
After weeks (or in some cases, months!) of holiday shopping, most consumers are getting ready to kick back and relax with an eggnog in hand and open their gifts. Sounds merry, right? Unfortunately, retailers still have a good chunk of…
2024 Holiday Returns: Managing the Post-Sales Surge
Black Friday and Cyber Monday 2024 have shattered records yet again. By the end of Black Friday, $10.2 billion was spent online (a 16% increase), while Cyber Monday sales surged to $11.5 billion, making it the biggest online shopping day…
