To combat rising costs and fraud, many companies are quietly updating their return policies.
As retail sales continue to grow, the average rate of return has remained flat at 16.5 percent compared with 16.6 percent in 2021, NRF said. And for every $1 billion in sales, the average retailer incurs $165 million in merchandise returns.merchandise returnedIn the same report, the NRF said that for every $100 in returned merchandise accepted, retailers lose $10.40 to return fraud.
Refunds on online returns are provided in the form of Kith.com gift cards, which exclude original shipping costs and include an $8 restocking fee.Kohl’s states on its website that it no longer pays for return shipping costs. Costs of shipping back returns are on the customer.Similar to J. Crew, Lands’ End deducts $6.95 from the refund credit to ship online returns back to the warehouse. On its website, however, the Wisconsin-based brand, does state that U.S.
According to the retailer’s website, customers will not pay shipping fees up front, but a deduction of $7 will be taken out of the refund.
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