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.