Now that the presents have disappeared from under the tree and the wrapping paper has settled at the bottom of the recycling bin, it’s time to take stock of all the gifts you received. Maybe those running shoes you got were just a little snug in the toe, or maybe your aunt accidentally bought you DVDs of the fifth season of Game of Thrones, not the sixth.
Returning gifts is as much a part of the holidays as giving and receiving them. And it turns out returning purchases is more common than ever. Tobin Moore is the CEO of Optoro, a company that helps retailers manage and re-sell returned products.
“Returns are a major issue for retailers each year – where they see close to 10 percent of all goods sold get returned,” he says. “A large majority of that happens during the holiday season.”
What you’ll hear in this segment:
– The difference between storefront returns and online returns
– What items get returned more often
– What happens to returned items after you send them back