Holiday returns could cost retailers billions

National News

(WFXR) – As COVID-19 continues, more people decided to shop online this holiday season, a decision that could come back to haunt retailers.

Why?

Statistics show that more online purchases get returned at a higher rate than in-store purchases.

Industry analysts say five-to-ten-percent of in-store purchases get returned. Items purchased online get returned twice as much.

This year, the number is expected to skyrocket which could cost retailers billions of dollars because it costs companies to process returns.

Plus, many returned items cannot be resold.

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