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Holiday shopping may be a distant memory, but consumers are still busy. Return season started earlier than ever this year and is just hitting its stride.
Consumers spent more than $850 billion this holiday season — the strongest year in six years — according to Mastercard, but 13% of purchases (or $90 billion worth) will be returned, according to liquidation company B-Stock. And for the first time since United Parcel Service started tracking returns, the shipping company saw a surge in returns before Christmas: UPS expected a record 1.5 million returns on Dec. 19, and anticipated another 1.3 million on Jan. 3 (in addition to another million every day of December).
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