Gift buying and gift returning typically go hand in hand.
On average, retailers expect about 18%, or $158 billion, of merchandise sold during the holiday shopping season to be returned, according to the National Retail Federation’s most recent data.
For 2021 overall, the return rate was about 16.6% of total U.S. retail sales, or $761 billion in returned goods.
But in 2022, fewer businesses can afford such a hefty price tag.
Policy adjustments ‘deter the consumer from returning’
With rising costs squeezing margins, many retailers are rethinking their return policies, shortening the return window and even charging a return or restocking fee, according to Spencer Kieboom, founder and CEO of Pollen Returns, a return management company.
Stores like Gap, Old Navy, Banana Republic and J. Crew (which was once well-known for a generous return policy that spanned the lifetime of a garment) have shortened their regular return windows to within a month. Holiday shoppers have some reprieve: J. Crew and others are currently offering extended holiday returns and exchanges.
At Anthropologie, REI and LL Bean (which also once promised lifetime returns), there’s now a fee — all around $6 — for mailed returns.
“These adjustments in return policies are not there to cover costs,” Kieboom said. “They’re really there to deter the consumer from returning.”
Yes, You Pay More & Get Less !!!!!
Next you are to be charged for the AIR you Breathed !!!! Then you know America has gone to hell !!!!