Always a thorny issue for retailers, returns has turned into quite the conundrum in 2023. New solutions are sprouting up every day, but costs and volumes continue to balloon. A recent piece in Fortune notes that retailers spent more on returns than the entire U.S. budget for public schools.
Meanwhile customer have high expectations of the returns experience, which retailers are working hard to moderate. Many companies have been slowly walking back years of overly generous returns policies — think Nordstrom and LL Bean as exemplars — in the face of cost and logistical issues, resetting expectations in more of a cost-sharing model.
To address the state of returns in 2023, Brian Kilcourse, managing partner at Retail Systems Research, joins us to discuss the challenges and opportunities they present in this latest MCM webinar.