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Retailers surrender to exceptional prices on online returns

Retailers surrender to exceptional prices on online returns

Returning unwanted presents this vacation season is becoming so costly for retailers that they might let consumers manage the products — and give refunds nonetheless.

Why does it matter?

The price of online returns is flying, contributing to rising costs, product deficiencies, and supply chain tension.

The big shot?

According to Optoro, a returns processor, the average cost of returning a $50 item is estimated to be $33, an increase of 59 percent over the previous year.

The influence

It is believed that retailers would pass on the cost of returns to customers through increased pricing.

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Some businesses, such as Amazon, have a policy of telling returners to retain their items. Moore claims that it would be too expensive to handle a refund. However, do not attempt to cheat the system to get freebies.

State of play

Online merchants have several challenges, the most significant of which is processing returns efficiently and restocking their virtual shelves while avoiding depreciation.

However, many online returned products are trashed, given, or recycled for resale via a different channel after they have been returned.

What’s next: A rising number of buyers are returning goods purchased online to physical shops.

Stay tuned with us for more info and news!

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