Publisher: NRF & Appriss Retail
Published Date: 2023

The 2023 NRF Consumer Returns Report highlights the significant impact of returns and fraud on the retail industry. In 2023, merchandise returns reached $743 billion, accounting for 14.5% of total sales, with fraud and abuse constituting 13.7% of these returns and $101 billion in losses. The report sheds light on evolving consumer behaviors, such as bracketing and wardrobing. The NRF advocates for the retail sector and emphasizes the need for strategic adjustments to counteract fraud and sustain profitability.

Publisher: GoTRG
Published Date: 2023

This report reveals that retail returns hit $743 billion in 2023. Retailers are responding to the escalating costs by shifting strategies to be less consumer-centric, focusing instead on 1) reducing returns costs and 2) improving recovery rates through technology and third-party partnerships. goTRG predicts that managing returns will become increasingly crucial for improving customer satisfaction and operations.

Reverse logistics is critical to the customer experience and the service life cycle. Efficiently managing this process while ensuring data flows across the entire service life cycle is integral to success in a competitive market.

Service Parts Management and Benchmarking Report by Blumberg Advisory Group.