Major retailers are bracing themselves for a massive wave of returns as the "season of returns" gets underway after the Christmas holiday. The increase in online shopping that came as a result of the coronavirus pandemic has many experts predicting a likewise spike in returns.
The last week of December typically heralds in the "season of returns," where consumers flock to stores to exchange or return unwanted merchandise bought over the holiday season. This year, however, experts are predicting a considerable spike in the volume of returns due to online shopping, which leaves more room for mistakes due to consumers not being able to see a product in person. According to one survey, as many as 80% of consumers are set to return at least one gift this year.
To make matters worse for retailers, the "season of returns" may end up being prolonged due to slowdowns with the United States Postal Service, as well as FedEx
Retailers are prepared, at least, and are adjusting policies and implementing new programs to address the needs of consumers. Passport to Wall Street previously detailed Walmart's
- https://www.10news.com/news/local-news/retailers-brace-for-record-breaking-number-of-returns-this-season
- https://www.wishtv.com/news/local-news/big-box-stores-brace-for-high-volume-of-holiday-returns/
- https://www.pymnts.com/news/retail/2020/many-unhappy-returns-navigating-returnmageddon/
- https://www.foxbusiness.com/retail/online-shopping-a-boon-for-retailers-but-returns-are-not-report
- https://www.pws.io//walmart-partners-with-fedex-for-hassle-free-holiday-returns