Product Returns
Walmart is raising its return shipping rates for seller-fulfilled orders, citing "changing market conditions," according to an update posted this month on the Walmart Marketplace website. While the retailer doesn't make its return shipping rates public, the company told Talk Business itโs the first rate increase in two years. Walmart marketplace allows third-party sellers toโฆ
Given the growing returns crisis within the United States' e-commerce and apparel sector, the urgency to address the core issues cannot be overstated. Why? Because a staggering 2.6 million tonnes of returned clothing have amassed in the country, signaling a critical juncture for retailers to rethink their strategies. In 2023 alone, clothing returns soared toโฆ
As the retail landscape continues to evolve, the significance of a well-structured return policy becomes increasingly evident. A recent report from the National Retail Federation showed the rate of returns increased 14.5 percent last year, a total of $743 billion in merchandise. Online retailers specifically experienced a notable uptick in returns in 2023, with anโฆ
It's the way of the world that giant corporations have the resources to crush their competition, especially when they attain a dominant position in the marketplace. The goliaths of Amazon.com and eBay did this to SMBs when they started offering FREE returns of online purchases. To be fair, the big companies probably didnโt foresee theโฆ
Modern consumers clearly value lenient, streamlined and cheap โ if not free โ return policies. At the same time, the cost of processing these returns has never been higher. To further complicate matters, a given retailerโs biggest returners are often some of their best customers. A majority of shoppers surveyed said they make the mostโฆ
After years of free and easy return policies, retailers are working to reduce rampant return rates. Nearly half now charge fees to offset rising costs. Popular brands like H&M, Zara, and DSW, among others, are opting to add fees to combat environmental, freight, labor and packaging costs associated with product returns. But are these punitiveโฆ
For retailers, the game has changed when it comes to returns. Pandemic-era purchase habits have pushed online sales higher than ever before, but the double-edged sword is that return rates are also through the roof. Still, with consumer habits shifting more online, returns can provide retailers with a rich opportunity to turn a negative intoโฆ
A whopping 69 percent of retailers treat returns as a cost of doing business, meaning they simply accept that they will incur $165 million in merchandise returns for every $1 billion in sales. This problem is further exacerbated during the holiday season when 17.9 percent of merchandise sold is returned. But what if one shift couldโฆ
With the holiday season underway, retailers of all sizes have been preparing themselves for a festive surge in sales. However, the post-holiday months bring in a wave of returns that can serve as a financial challenge for small businesses. Recent data from Xero, the global small business platform, reveals that a staggering 53 percent ofโฆ
The holiday season, synonymous with joyous celebrations and bustling retail activity, also brings a notable surge in product returns. But while many retailers perceive returns as a challenge, our data reveals a surprising and valuable insight โ returns are an untapped opportunity for amplified customer retention. Providing customers with a straightforward and hassle-free return policyโฆ