Customers returned $890 billion worth of goods last year, which is almost triple the amount they returned pre-pandemic.
Some call shifts in the industry a retail apocalypse as more companies close locations or file for bankruptcy.
Delivery giant grows its network of sites where customers can send back packages by adding 10,000 Happy Returns drop-off locations.
Some economists — citing interest rates, taxes and market cycles — think we are entering an era of underperformance.
A good portion never make it back to store shelves.
OffBeat owner Phillip Rollins says January and summer are his “most hated months” because business is so slow.
About 18% of all holiday sales are expected to be returned. That comes with costs to companies, consumers, and the climate.
Americans sent back $760 billion worth of stuff last year. Now higher shipping costs and rising returns are hurting companies’ bottom lines.
Optoro, which manages returns for Target and Ikea, says consumers will send back $120 billion worth of goods this season.
Companies spend a lot of money processing those returns, and many items that are returned won’t end up back on the shelf.
