This website uses cookies to improve your experience. By viewing our content, you are accepting the use of cookies. To find out more and change your cookie settings, please view our Privacy Policy.
As return rates continue to rise, the cost associated with processing returned merchandise—whether back on the shelf or returned to the vendor—is becoming a major pain point.
Consider this: it costs twice the amount to process an online return for resale as it does to sell it the first time around. What’s more, by the time an item is returned, a newer product (that can be sold at full price) may now be on the shelf. This is often the case for specialty retailers with quickly rotating inventory.
Today’s consumer purchases happen more rapidly than ever, making returns an unavoidable aspect of the shopping experience. Every year, billions of dollars worth of returned goods make their way back to retailers, often resulting in excess inventory. Many of these…