Internet Retailers Set to Let People Keep Unwanted Gifts AND Get Refunds Over High Costs of Processing Returns
Because of worker shortages, COVID shutdowns, supply chain issues, and the mounting costs of shipping, many online retailers are telling customer to keep their unwanted or broken items AND still giving a full refund.
Online retailers are beginning to tell customers to just keep those items that don’t fit, or are broken, or otherwise unwanted. But they are also issuing full refunds, all because it is far more expensive to pay for the shipping and restocking costs to have the items to be returned to them.
Per the Daily Mail:
According to returns processor Optoro, returning a $50 item costs an average of $33, up 59 percent from 2020, when it cost around $13.53 to do so.
That has led to an increase in the number of retailers telling shoppers’ to keep an unwanted gift, rather than return it, because the processing cost wipes out any profit they’ll have made.
Optoro’s CEO Tobin Moore claims supply chain issues and worker shortages are to blame for the rocketing prices of handling returns.
According to CBRE supply chain, about three in 10 online purchases get returned
Analysts note that online retailers will simply begin raising prices to fix the cost issue.
It’s just another way that Joe Biden is hurting the lower and middle classes.
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