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2021 State of the Industry Report
The retail industry could save $125 billion annually by focusing on returns reduction. The total business impact of returns is even greater.
Beyond the direct financial cost, retailers must consider the impact on customer, brand, and environmental factors. Inadequate leadership focus and old habits blind retailers from the returns reduction opportunity as returns are baked into retailers' inventory and financial planning.
But, not all returns are shopper-driven. 73% of returns occur due to a retailer-controllable action (or inaction). Most retailers have some, even most, of the critical data they need to be able to analyze returns. However, retailers don't have the tools or internal resources to integrate and analyze this disparate data.
This industry benchmark eBook is based on a survey of 100+ retailers and 2,500+ shoppers.