The gift-giving season is here soon to Be followed by the season of gift Returns this year you need to read the Fine print according to a recent survey 6 and 10 retailers have changed their Return policies and that includes online Returns as Nancy Chen reports it could Change not only the way we return but How we buy [Music] With the holiday shopping season Underway tis the season also for Surprises including a Crackdown on Online Returns the cost to return an Item by mail at Zara now 395 for J.Crew It's 7 50. And for Dillards that return shipping Cost will set you back almost 10 bucks They're all part of a growing list of Retailers charging return fees typically In the range of three to ten dollars to Send back purchases I hate it as someone Who likes to shop and return things Often because sometimes you do have to Try things on regardless Washi shops Almost entirely online and was recently Hit with return fees after ordering Multiple pairs of pants I haven't been Able to find a pair of pants that Actually fits me I needed to try on a Lot of things and for certain stores I Did have to eat that five dollar cost a Fee some experts say Shoppers should get Used to with labor and shipping costs up
And retailers dealing with excess Inventory this year and all those Returns add up according to the National Retail Federation 102 billion dollars Worth of online orders were returned in 2020 that number more than doubled to 218 billion last year about 40 percent Of our Merchants are charging for Refunds and that's up it's nearly Doubled in the last 12 months Jonathan Poma is the CEO of loop a company Helping more than 1500 retailers save on Return costs this is actually a big Problem for retailers when you start to Stack these costs free shipping on the Outbound order free shipping on the Return maybe a customer acquisition cost Of 50 bucks and you're out almost twice The cost of the the return and Poma says Less than half of items returned can be Immediately resold if at all for some Merchants it can be the difference Between existing in 12 months and no Longer being in business and with as Many as 50 000 brick and mortar stores Projected to close over the next five Years the trend towards return fees Isn't going away anytime soon I think Return fees just help us see a little Bit behind that curtain by making us Pause and think about our purchasing Decisions and whether we are being Wasteful or not turning a page and how We buy in and return for CBS morning's
Nancy Chen New York When it comes to avoiding return fees The simplest solution is to return your Gifts to the store if you don't live Near a store consider joining the store Loyalty programs retailers often waive Those return shipping fees if you do and Finally it might be worth asking Customer service to make an exception But thank you that can be a little risky As we all know depending who's on the Other side of the customer service right
