Returns Totaled $369 Billion In 2018, But Many Can Be Prevented

Returns hit the bottom line in multiple ways: the value of returned merchandise was $369 billion in 2018, and it takes, on average, more than seven people to handle processing a return. Additionally, 80% of first-time customers who return their order will never buy from that retailer again.

However, most returns happen due to preventable issues, such as shipping the wrong item, a damaged product or inaccurate product description. This puts 65% of product returns under retailers’ control, and every $1 million in returns prevented adds $500,000 to their EBITA.

Learn more about how retailers can bolster their bottom lines with return reduction efforts in this infographic from Newmine.

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Source: Newmine.

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