More than 65 percent of retailers are charging restocking fees and 32 percent are shortening the time windows for returns.
Shipping, processing and restocking these returns comes at a cost for retailers. According to the NRF, retailers lose $10.30 for every $100 of merchandise returned because of fraud. That may be people wearing apparel for a night without taking the tag off or people who purchase video games and then return them once they're finished playing through the game, according to Venky Shankar, research director of Texas A&M University's Center for Retailing Studies.
Of those, 67 percent are charging restocking fees, and 32 percent are shortening the time windows for returns. Abercrombie & Fitch now charges $7 for returning an order online, while REI will deduct $5.99 from refunds to cover return shipping fees. Even Amazon has shortened its holiday window of returns this year, giving customers until Jan. 31 to return any items purchased between Oct. 11 and Dec. 25, compared with Oct. 1 and Dec. 31 last year.
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