Returns in 2024 are expected to amount to 17% of all merchandise sales, totaling $890 billion in returned goods, according to a new report by the National Retail Federation and return management company Happy Returns.
Nearly two-thirds of consumers now buy multiple sizes or colors, some of which they then send back, a practice known as “bracketing,” according to Happy Returns.
In 2023, 81% of U.S. retailers rolled out stricter return policies, including shortening the return window and charging a return or restocking fee, according to another report from Happy Returns.
How return policies shape shopping habitsIncreasingly, return policies and expectations are an important predictor of consumer behavior, according to Happy Returns’ Sobie, particularly for Generation Z and millennials.
“Return policies are no longer just a post-purchase consideration — they’re shaping how younger generations shop from the start,” Sobie said.
Persons:
”, Amena Ali, “, Optoro, ” David Sobie, aren’t, Spencer Kieboom, Rachel Delacour, Neiman Marcus, Levi Strauss, There’s, Optoro’s Ali, ” Sobie, GoDaddy
Organizations:
National Retail Federation, U.S . Environmental Protection Agency, “, Amazon, Ikea, Walmart
Locations:
U.S, Patagonia