Retail Return Rate Seen Jumping to 16.6% for Goods Sold in 2021: NRF
Retailers expect 16.6% of merchandise sold last year, totaling $761 billion, to be returned, said the National Retail Federation Tuesday. The 2020 return rate was 10.6%. Online returns in 2021 were in line with recent years at an average of…
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20.8%, NRF said. Of the $1.05 trillion online sales last year, $218 billion were returned and $23.2 billion deemed fraudulent, NRF said. A survey of 57 retailers fielded Oct. 13-Nov. 15 by Appriss Retail and NRF said for every $1 billion in sales, the average retailer incurs $166 million in merchandise returns; for every $100 in returned merchandise accepted, retailers lose $10.30 to return fraud. The categories with the highest return rates followed 2020 results: auto parts, apparel, and home improvement and housewares. “As total retail sales continue to accelerate from sustained consumer demand during the pandemic, it is no surprise that the overall rate of returns has also been impacted,” said Mark Mathews, NRF vice president-research development and industry analysis. An upside is that returns allow retailers a chance to “connect further with customers and provide a positive experience.”