- There's a little known secret amid the strong growth in online sales: up to a third of all purchase are returned, as estimated by retail consultancy Kurt Salmon. With customers not having to pay to send products back, UPS forecasts that returns will climb 15% this holiday season compared with last year.
- The trend, which can be very costly for firms, has prompted them to act. Clothing sizes are the biggest reason why shoppers return purchased goods, so companies have been using past transactions to give consumers gentle reminders about which size fits them the best. Macy's (M) and Nordstrom (JWN) are among the those who use data to ensure that shoppers choose what will hopefully be the right fit.
- Meanwhile, Amazon (AMZN) and other retailers offer customers "appeasements" such as gift cards or small discounts to persuade them to not return their acquisitions.
Internet retailers move to stem product returns
Dec 23 2013, 05:16 ET