The rapid shift toward more omnichannel transactions continued in 2021, and the value of retail returns hit $761 billion—an unimaginable figure five years ago.
Consumers returned items in a variety of ways, including drop-off sites, BORIS (buy-online-return-in-store), shipping (buy-online-return-online or “BORO”), and traditional store returns. This increase in omnichannel retail returns has left retailers racing to keep up with handling and processing.
Appriss Retail's annual Consumer Returns in the Retail Industry report dives deep into the impact of legitimate and fraudulent returns. This year's report also provides information on how COVID-19 has affected return volumes, what the biggest returns challenges retailers face right now, and their hesitancy to relinquish control of the return process to third-party vendors.
Before you read the full report, start with some of the quick facts below.
Tom Rittman, Vice President, Marketing, Appriss Retail
Tom Rittman, vice president of Marketing at Appriss Retail, is responsible for all aspects of branding, marketing, and business development. Prior to joining Appriss Retail, Tom served as the vice president of marketing for Datavantage, a retail technology company that is now part of Oracle. He holds his bachelor’s degree in Marketing from the University of Akron.