• 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
Facebook Twitter Instagram
Saturday, January 28
  • Subscribe
  • Submit Content
  • About Us
    • Contact Us
  • Advertise
    • Display Advertising
    • Email Marketing Campaigns
    • Newsletter Advertising
    • Sponsored Content
    • Lead Generation Services
  • Top Product Sources
Facebook Twitter Instagram
WholesaleCentral.com Blog
  • 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
WholesaleCentral.com Blog
Home»For Buyers»Retail News»Many Unhappy Returns? Fraud Set To Cost Retailers Billions This Season
Retail News

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

PublisherBy PublisherNovember 9, 20101 Min Read
Facebook Twitter Email
FraudSMALL1.jpg
Share
Facebook Twitter Email

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.

fraud holiday and seasonal theft
Share. Facebook Twitter Email
Previous ArticleSnow Sports? NBT Wholesale Has Full Line of Sleds, Snowblocks and More
Next Article ‘Small Business Saturday’ Scheduled for Thanksgiving Weekend in NYC

Related Posts

5 Essential Tax Season Preparation Tips

January 24, 2023

Technology to Prepare Your Store for the Future

January 19, 2023

2023 Retail Success Guide

January 5, 2023
Sign Up for Buyer Updates
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Latest Posts

Overstock Liquidations

January 25, 2023

5 Essential Tax Season Preparation Tips

January 24, 2023

Top 10 Closeout & Liquidation Suppliers

January 20, 2023

Technology to Prepare Your Store for the Future

January 19, 2023

Best Video Marketing Tips for Retailers

January 19, 2023

Winning With General Merchandise

January 18, 2023
how-to
Product News

Overstock Liquidations

January 25, 20236 Mins Read

Overstock inventory refers to the excess goods or merchandise that a retailer has on hand…

Retail News

5 Essential Tax Season Preparation Tips

January 24, 202310 Mins Read

Are you ready for tax season? April 18 is approaching quickly, and many day-to-day decisions…

Wholesale 101 for Buyers

How to Create a Google Business Profile

January 18, 20236 Mins Read

Looking for new ways to get your brand noticed? Creating a Google Business Profile can…

Retail News

Using Color Theory in Window Displays to Increase Foot Traffic

December 1, 20224 Mins Read

by Melissa Stivale While we do not often stop to think about how much color…

  • About Us
  • Subscribe
  • Contact Us
  • Advertise
  • Find Wholesale Products
WholesaleCentral.com

Join the Buyer's Network

Get news & updates only for retailers.

Follow Us:

Copyright © 2023. Sumner Communications, Inc..

Type above and press Enter to search. Press Esc to cancel.