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☆ Why 'wardrobing' retail fraud soars in the summer
▼ + stars: | 2024-08-07 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +5 min

A particular type of retail fraud soars during the summer season. Scot Case, executive director of the Center for Retail Sustainability at the National Retail Federation, said wardrobing can drive up costs and waste for retailers if the product can no longer be resold. "As companies build and integrate take back programs to repair and resell used items, returns take on a new role, fueling a new circular market." The average value of a returned item for Optoro's customers is $85. The highest item value reported as returned in the survey was $200.

Persons: Amena Ali, Optoro, Ali, TJ Maxx, coverup, Scot Case, Stephen Lamar, Lamar, Stephen Lamar's Organizations: CNBC, Center for Retail Sustainability, National Retail Federation, Eagle Outfitters, American Apparel and Footwear Association Locations: recommerce

☆ Refund fraud schemes promoted on TikTok, Telegram are costing Amazon and other retailers billions of dollars
▼ + stars: | 2024-03-14 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +14 min

The following month, 10 men were indicted in Oklahoma, charged with conspiracy to commit wire fraud for allegedly operating a refund fraud service named Artemis Refund Group. A thriving refund fraud marketFor every refund fraud service shut down by law enforcement, swarms of similar groups remain open for business. CNBC viewed several active refund fraud services on encrypted messaging app Telegram, each with thousands of followers. Zoom In Icon Arrows pointing outwards A Google form from an active refund fraud service explaining which stores it targets and how much it charges customers. Zoom In Icon Arrows pointing outwards A refund fraud service claims to have access to Amazon insiders in a Telegram post.

Persons: Stephanie Keith, Noah Page, Page, he'd, Ralph, —, Rick Owens, Sajed Al, Ralph Lauren, Uber, Maarej, Chris Black, Amazon, Al, they'd, Rekk, Cyril Noel, Tagoe, Noel, Louis Vuitton, scammers, Reddit, Brittany Allen, Allen, Remi Vaughn, Vaughn, she's, David Johnston, Johnston Organizations: Bloomberg, Getty, CNBC, National Retail Federation, Appriss, Amazon, Page, Riverside Press, Medianews, PayPal, Retailers, Artemis, Walmart, Apple, Nike, eBay, Saks Fifth, DoorDash, Google, MacBook, Mail, UPS, U.S . Postal Service, Al, Rekk, Gucci Locations: New York, Chattanooga , Tennessee, Reddit, TikTok, Eastvale, Michigan, Oklahoma, Chattanooga

☆ Retail return fraud is rising as key holiday deadline approaches
▼ + stars: | 2024-01-29 | by ( Courtney Reagan | ) www.cnbc.com time to read: +5 min

As more consumers shop online and send back more of those orders, retailers have moved to crack down on fraud. Retailers expect 16.5%, or $24.5 billion worth, of holiday returns to be fraudulent this year, according to a survey by Appriss Retail and the National Retail Federation. Shipping back an empty box or a different item than was received, such as a box of bricks instead of a television, is the most common form of return fraud, according to Pitney Bowes' Ramachandran. Zoom In Icon Arrows pointing outwards Source: Appriss Retail/National Retail FederationReturn abuse is more commonThere's also less egregious behavior, often considered return abuse rather than fraud. More than half, or 56%, of consumers confess to "wardrobing," according to a survey from fraud prevention firm Forter.

Persons: it's, Vijay Ramachandran, Pitney, we've, Michael Osborne, Marc Metrick, That's, Pitney Bowes, Ramachandran, fraudsters, Osborne, Doriel Abrahams, Abrahams, Jeff Greenberg Organizations: Pitney Bowes, Retailers, Appriss Retail, National Retail Federation, Appriss, Saks, Shipping, CNBC, National, Federation, Ikea, Universal, Getty Locations: Doral , Miami

☆ 17 Best Dress Shoes for Men, According to Style Experts
▼ + stars: | 2023-11-03 | by ( Leah Melclinton | ) www.wsj.com time to read: +8 min

The laces and classic body shape are characteristic of traditional men’s dress shoes, while the rugged rubber soles still make a statement with any formal outfit. “Good leather shoes are not an arena in which it pays to cut costs,” he says, recommending investing in “the pair of a decade” from this made-in-England favorite. (Crockett & Jones has regal and Hollywood credentials: the brand received a Royal Warrant of Appointment in 2017, and this is the style of dress shoes worn by Daniel Craig’s James Bond). Sleek sneakersThe key to dressed-up sneakers is finding a leather pair free of busy accents or logos. The style is “acceptable to wear with dress clothes,” confirms Los Angeles-based personal stylist Rayne Parvis, who advises people to wear these sneakers in place of brown lace-up dress shoes.

Persons: Leah Melby Clinton You’ve, Magnanni Marco, Jim O’Brien, O’Brien, Wes Sharpton, Cole Myers, ”, Jones, Daniel Craig’s James Bond, Nolan Beck, Rivera, suede Myers, Myers, cushioned, ’, ” Beck, Johnny Cash, Saint Laurent, “ They’re, Beck, Rayne Parvis Organizations: Huntington, Cleobella, Kansas, Monroe, Crockett, Chelsea Boots Locations: Huntington Beach, Calif, Catskill, N.Y, New York City, Paris, Kansas City, Mo, England, Polish, Richmond, Va, Montreal, French, Alsace, ”, Mexico, Nisolo, Los Angeles

☆ One consumer returns 95% of the clothes she buys online. Some say it should be illegal since it hurts workers and the environment, but companies don't seem to mind — heres why.
▼ + stars: | 2023-07-25 | by ( Sara Davies | ) www.businessinsider.com time to read: +7 min

Last year, fashion returns created 750,000 tonnes of carbon-dioxide emissions in the UK. Today, companies consider returns management to be more of a marketing tool, and handling returns well can help companies gain new customers and keep them coming back. The environment likely suffers from fashion returns a lot more than we dare to estimateStaff aren't the only ones that we need to consider. A big proportion of unwanted clothes that companies can't resell or recycle end up burned or in landfills. Last year, fashion returns were responsible for 750,000 tonnes of carbon-dioxide emissions in the UK.

Persons: Dani H, who's, —, Deshopping, Stuart Higgins, BearingPoint, wardrobing, Zeenia, Naqvee, PrettyLittleThing, aren't, Chloe Organizations: . Research, Service, Retailers, Marketing Management, Observer, Institute of Positive Locations: Wall, Silicon, Sheffield, England

☆ Some say 'deshopping' or returning already-worn clothes should be illegal. Others argue it's an invaluable marketing tool — so who's right?
▼ + stars: | 2023-07-25 | by ( Sara Davies | ) www.businessinsider.com time to read: +7 min

Last year, fashion returns created 750,000 tonnes of carbon-dioxide emissions in the UK. But shoppers who buy clothes with the intent of returning them after wearing them are adding fuel to the fire. The environment likely suffers from fashion returns a lot more than we dare to estimateStaff aren't the only ones that we need to consider. A big proportion of unwanted clothes that companies can't resell or recycle end up burned or in landfills. Last year, fashion returns were responsible for 750,000 tonnes of carbon-dioxide emissions in the UK.

☆ Why retailers send your like-new returns to rot in landfills
▼ + stars: | 2023-02-08 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +7 min

Not all retailers are environmentally focused, "so things end up being thrown away because of the cost," he said. If consumers want to avoid contributing to landfills with their returns, there are a few things to keep in mind. Luxury brands, too, are more likely to trash returns to avoid products ending up in secondary markets and tarnishing the label's value. Retailers are investing more in returns technology, services, and other advanced strategies as returns volumes grow. Consolidation strategies used by Amazon and other major retailers cut down on shipping costs by pooling returns together at stores.

☆ Over 60% of people who shop online are 'bracketing' their online purchases — and it's creating a logistical nightmare for retailers
▼ + stars: | 2022-11-28 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +6 min

"Bracketing" is the practice of buying the same item online in multiple sizes or colors. It's increased with the rise of e-commerce: 63% of shoppers reported bracketing in a 2022 survey. With the holiday shopping season in full swing, retailers are bracing for what at this point is practically an e-commerce tradition: bracketing. Bracketing is especially prevalent when retailers offer free shipping and free returns because customers deem the practice low risk. Bracketing probably isn't a totally fixable problem, but there are some ways retailers can prevent customers from making so many returns.

☆ Retailers are gearing up for the holiday shopping season as more gift-giving and holiday parties mean more returns
▼ + stars: | 2022-11-23 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Retailers incur $166 million in returns for every $1 billion in sales, NRF survey finds. According to the Fox report, Walmart has relaxed its return policies as holiday shopping gets underway. In a November press release, the NRF predicted that holiday shopping during November and December will grow between 6% and 8% over 2021 to between $942.6 billion and $960.4 billion. According to an NRF survey, retailers incur $166 million in merchandise returns for every $1 billion in sales and lose over $10 to return fraud for every $100 of returned merchandise accepted. Although a looming recession fuels the possibility of returns and wardrobing, NRF President and CEO Matthew Shay says Americans will find a way to shop this season.

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☆ 15 Best Dress Shoes for Men, According to Style Experts
▼ + stars: | 2022-11-22 | by ( ) www.wsj.com time to read: +8 min

The laces and classic body shape are characteristic of traditional men’s dress shoes, while the rugged rubber soles still make a statement with any formal outfit. “Good leather shoes are not an arena in which it pays to cut costs,” he says, recommending investing in “the pair of a decade” from this made-in-England favorite. (Crockett & Jones has regal and Hollywood credentials: the brand received a Royal Warrant of Appointment in 2017, and this is the style of dress shoes worn by Daniel Craig’s James Bond). Sleek sneakersEcco Soft 7 City Sneaker $170 at NordstromThe key to dressed-up sneakers is finding a leather pair free of busy accents or logos. The style is “acceptable to wear with dress clothes,” confirms Los Angeles-based personal stylist Rayne Parvis, who advises people to wear these sneakers in place of brown lace-up dress shoes.

☆ Are you guilty of returning clothes bought to wear once? Some say you should be punished for 'wardrobing' — a practice that costs retailers $12.6 billion annually
▼ + stars: | 2022-09-22 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Nearly half of Americans believe 'wardrobing' should be a 'serious illegal offense,' a new survey found. Over a third of Americans say they'd be more likely to practice wardrobing during a recession. In a September study of 2,000 adults, market research company OnePoll found that 46% of survey respondents believed the practice — known as "wardrobing" — should be considered a "serious illegal offense." According to a 2021 study by the National Retail Federation, acts of return fraud like wardrobing amount to $12.6 billion in lost sales for retailers. Fifty-five percent suggested better customer service as a way to combat friendly fraud.

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