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Retailers may pay customers to keep returns

Retailers may pay customers to keep returns

Retailers are struggling as freight fuel prices hit an all-time high and supply chain turmoil continues are considering issuing refunds without customers sending back merchandise . A CNN Report today states, Target, Walmart, Gap and Urban Outfitters are seriously weighing their options for revising their return and exchange policies. The first major retailer, in the e-commerce space, Amazon launched a “returnless return” policy for certain cheaper, expensive-to-ship items several years ago — when the cost of receiving the return outweighs the cost of the merchandise.

A survey by the National Retail Federation and Appriss Retail, retail returns hit an average of 16.6% in 2021 — up from 10.6% the year prior — adding up to more than $761 billion of merchandise that’s likely to end up back in stores, outlets and warehouses. They can also move them to foreign liquidators in Canada, Mexico, and Europe.

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