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Price and item availability are among consumers’ biggest concerns this holiday, with inflation surging past 6% and supply chain bottlenecks leaving some shelves bare. To compensate, an increasing number of people are considering gifting used items, particularly those that have been refurbished by manufacturers.
Unlike other used options, refurbished items are often returned to the original manufacturer for testing and repair before being sold again, giving consumers more confidence that what they’re buying is legitimate. Many electronics brands and retailers, such as Apple, Best Buy and Newegg, offer refurbished merchandise, as does home furnishing retailer Ikea, which is facing a supply shortage that will likely last through the middle of next year.
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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