WJLA On The Money January 1, 2017
Traditionally if a store cant resell it, returned items are tossed out or sold to liquidators at a loss, but retailers are changing the way they are handling returns. Court any reagan has this weeks cover story, exchange rate. Reporter americans returned 260 billion in merchandise to retailers last year, or 8 of total purchases. Even higher around the holiday season. According to gartner research, less than half is resold leaving retailers booking big losses, in some cases as much as 10 of total sales. Add in the surge of Online Shopping and the problem gets even bigger. Return rates from onli...