As high as $82 billion! Will the US online shopping return rate explode during the holiday season?

It is learned that this holiday shopping season, US online retailers will face increased return costs. The latest data from supply chain technology company Optoro and investment company CBRE show that the total amount of online returns in the United States during the 2023 holiday season will reach 82 billion US dollars.

Overall, the return rate for online purchases in the United States this year will be between 15% and 30%. NRF previously predicted that total online sales in the United States during the holiday season will reach US$273.7 billion, a year-on-year increase of 7%.

Optoro noted that since 2018, return costs for U.S. online retailers have surged 50% to $149 billion. On the other hand, on average, the return cost of each item accounts for 27% of the purchase price, wiping out 50% of the retailer's sales profit.

This holiday season, improved return policies will make it easier for consumers to place orders and buy more products. A recent Optoro survey found that 64% of consumers prefer online retailers that offer return services. 44% of consumers pointed out that free returns are an important factor that motivates them to make a purchase.

In response to the challenge of rising return costs, many retailers implemented a series of initiatives before the holiday season. Optoro found that 87% of retailers adjusted their return strategies in 2023, including adding additional return locations, charging for returns, allowing customers to keep certain returned items, combating fraud, and providing online return portals. In addition, 44% of retailers also increased the fees for returning and restocking items.

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