• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Subscribe
  • Submit Content
  • About Us
    • Contact Us
  • Advertise
    • Display Advertising
    • Email Marketing Campaigns
    • Newsletter Advertising
    • Sponsored Content
    • Lead Generation Services
  • Top Product Sources

WholesaleCentral.com Blog

The Industry's Trusted Source for B2B Retail and Wholesale News

  • For Buyers
    • Retail News
    • Products & Suppliers
    • Ecommerce
    • Marketing & Management
    • Trade Show News
  • For Suppliers
    • Supplier News
    • Marketing & Management
    • Importing
    • Manufacturers
    • Warehousing
    • Finance
    • Show Exhibiting
  • Wholesale 101
  • Trade Show Calendar
  • Wholesale Products
Home » Many Unhappy Returns? Fraud Set To Cost Retailers Billions This Season

Many Unhappy Returns? Fraud Set To Cost Retailers Billions This Season

November 9, 2010 by Publisher

The retail industry will lose an estimated $3.68 billion to return fraud this holiday season, up from $2.74 billion last year, according to the National Retail Federation. The numbers are from the NRF’s annual Return Fraud Survey and highlight the challenge faced by retailers trying to offer good customer service while watching their bottom line.

“Retailers are still struggling to find the appropriate balance between providing stellar customer service for their shoppers while prohibiting criminals from taking advantage of lenient return policies,” said Joe LaRocca, Senior Asset Protection Advisor for the NRF. “Combating this very costly problem helps retailers keep prices low but can unfortunately involve establishing policies that inconvenience honest shoppers.”

The most common type of return fraud is return of stolen merchandise, which 93.5 percent of retailers say they have experienced in the last year. Wardrobing – the return of used, non-defective merchandise like special occasion apparel and certain electronics – also poses a huge problem, as more than six in 10 retailers (61.7%) say they been victims of this activity within the last year, up from 46.2 percent in 2009.

For the complete report, click HERE.

Category: Retail News Tags: fraud, holiday and seasonal, theft

Primary Sidebar

Latest Posts

Improve Retail Pop-Up Experiences with Technology

Retail News

Halloween Retail Displays to Boo-st Sales

Retail News

5 Ways Low-Code Technologies Can Help Boost Business

Marketing & Management

The Go-To Event for the Souvenir Industry

Trade Show News

How ‘Buy Now, Pay Later’ Can Strengthen Brand Equity

Retail News

How to Optimize Digital Customer Experiences

Ecommerce

Sign Up for Buyer Updates

WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Editor’s Picks

How to Build the Perfect Marketing Campaign

Editors Picks, Wholesale 101 for Buyers

The Best & Worst Times to Post on Social Media

Editors Picks, Marketing & Management

Best Made in USA Products to Sell in the Summer

Editors Picks, Featured Products, Made in USA, Product News

More Editor's Picks

Follow Us:

© Sumner Communications, Inc.
6 Research Drive, Suite 420 | Shelton, CT 06484