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With the festive season well and truly over, many retailers now have the enviable challenge of handling the surge in customer returns that has become common place at this time of year. To give you an idea of the scale, The Telegraph reported that UK retailers incurred costs of £180m from consumers returning goods bought during the 24-hour sales period of Black Friday 2015. When this is compared to the entire festive shopping period, it is clear that the costs associated with Christmas 2015 returns will be significantly higher.
According to recent data from the National Retail Federation (NRF), 2024 saw a record-breaking $890 billion worth of merchandise returned to retailers. As the leading B2B recommerce platform, B-Stock also saw a record-setting number of buyers, bidders, and listings on…
With a projected annual return rate of 16.9%, 2024 saw a staggering all-time high of $890 billion worth of merchandise returned to retailers. While a natural byproduct of retail, this merchandise places immense pressure and additional costs on retailers and…