The forecast: US online shoppers will return merchandise worth $279.03 billion this year, an 8.4% increase over last year, and well over double the $118.41 billion that shoppers returned in pre-pandemic 2019, per our latest forecast.
What’s driving that growth? Two factors have driven that return volume growth: inflation and bracketing.
The challenge: Return rates are growing faster than revenues for 91% of retailers, per a survey by Appriss Retail and Incisiv.
Various solutions: Retailers are taking different tacks to address the issue.
The big takeaway: The returns process is a critical element of customer experience that can either offer retailers a competitive advantage or drive shoppers to their rivals.
This article originally appeared in Insider Intelligence's Retail & Ecommerce Briefing—a daily recap of top stories reshaping the retail industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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