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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).
More from the B-Stock Blog
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Recommerce and Sustainability: How B-Stock Is Closing the Loop
Every April, Earth Month serves as a reminder that sustainability isn’t a trend: it’s an imperative. For retailers and brands managing the constant flow of returned, excess, and pre-owned inventory, the question is no longer whether to embrace sustainable practices,…
Stop Managing the Excess Inventory Backlog. Start Clearing It.
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…
