Last year, 10.6 per cent of holiday gifts (about $428 billion in value) were returned, according to global management consulting firm McKinsey. Optoro estimated that retailers pay 66 per cent, or $33 of a $50-product, for returned products. B-Stock’s web-based platform allows customers, like auction houses, recyclers and direct-to-consumer resellers, to bid on returned products. According to research reported by CBRE from the National Retail Federation, the gift most consumers want to receive is a gift card. As unsentimental as gift cards may be, at least they give the receiver the choice of what to buy and reduce returns.

Source: Forbes January 06, 2022 14:46 UTC