To understand the shifting landscape that is retail returns, NRF and Happy Returns, a UPS company, explored both consumer and retailer perspectives and priorities for the returns experience in 2024 Consumer Returns in the Retail Industry. The report explores the impact of returns for the retail industry, consumer expectations for returns, retailers’ priorities and strategies for returns, the challenge of fraudulent and abusive returns practices and the vision for returns in 2025. Key findings include:
Total returns for the retail industry are projected to reach $890 billion in 2024.
76% of consumers consider free returns a key factor in deciding where to shop.
More than two-thirds of retailers surveyed say they are prioritizing upgrading their returns capabilities within the next six months.
A majority (93%) of retailers said retail fraud and other exploitive behavior is a significant issue for their business.