Retailers are struggling with the burdens of in-store returns stemming from e-commerce, which account for 43% of their challenges. A study reveals that while many retailers believe in-store returns facilitate additional sales, only 17% of customers actually spend more during these visits. The average return rate for online purchases is three times higher than that of in-store, significantly increasing retailer costs. The study emphasizes that the ease of online shopping leads to heightened return rates, resulting in average return costs totaling 15% to 30% of original purchase prices, amounting to a $550 billion annual impact.
While many retailers see in-store returns as an opportunity for sales, only 17% of consumers actually make additional purchases during these returns.
The average return rate for online purchases is three times higher than in-store, creating significant challenges for retailers dealing with return volumes.
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