US Consumers Returned 78% More Purchases in 2021

US Consumers Returned 78% More Purchases in 2021

AJ Gonzalez | February 28, 2022

SmallBizGenuis, By Vladana Donevski, February 07,2022

According to the National Retail Federation’s survey for 2020 and 2021, retail returns skyrocketed to over $760 billion in value. This places a significant strain on “reverse logistics” companies.

  1. US consumers have been sending back unprecedented volumes of unwanted goods.   It takes nearly two-thirds of the average item’s price to process its return to the shelves.   Since customers can often return items for free, this eats into already slim profit margins.
  2. Online shopping revenue grew by 43.5% between 2019 and 2021.
  3. eCommerce stores offer generous return policies. Some of them are extending return windows to up to three months to accommodate early shoppers returning Christmas gifts after the holidays.
  4. The other option for these retailers is to allow their customers to keep the product and just get their money back.

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