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Convenience is often cited as the top reason why shoppers head online rather than in store. But for retailers, this shift results in a few inconvenient truths.
First, the shift has resulted in plummeting same-store sales in brick-and-mortar locations.
Second, these online transactions all too often become a two-way street. The National Retail Federation says the amount of merchandise returned increased by 52 percent from $171 billion in 2007 to $260 million in 2015.
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…