Reported 1 day ago
Wealthy Americans are significantly impacting retailers through their high rates of online shopping returns, driven by a trend known as 'speculative shopping.' A recent report revealed that higher-income households return a larger percentage of their purchases compared to lower-income households, leading to heightened costs for retailers. With returns projected to cost U.S. retailers around $890 billion in the coming year, many are tightening return policies. This shift underscores the broader economic implications for all consumers, as policies evolve to mitigate losses from frequent returns.
Source: YAHOO