Supply Chain World - Volume 7, Issue 3 - 28

CONSUMER RETURNS

Requiring a receipt to be presented
when requesting a refund can
help your business check returns
against records.

According to recent research by the
NRF, of the 11 percent of retail products which are returned, 8 percent
will be sent back to the point of origin
fraudulently. The research in question
focused on brick-and-mortar retailers,
but it seems likely that the figure would
be just as high, if not higher, when
e-commerce is considered as well.
Online selling platforms often force
very generous returns policies on those
who retail through them, which makes
fraudulently returning products even
easier for scammers.
Combatting returns fraud must,
therefore, be a top priority for the reverse logistics industry, unless brands
want to see their profits suffer.

Returns Fraud

BY WBR INSIGHTS

Essential Strategies
The retail industry is fighting back against returns fraud. Here are
some ways to combat against it.
Facilitating consumer returns is a necessary evil in the retail industry.
However, this logistical necessity is made even more complicated when a
portion of those returns are fraudulent.
28

Supply Chain World VOLUME 7, ISSUE 3

While many fraudulent returns are
carried out by individuals, there is also
a lucrative organized crime industry
which revolves around the practice.
The NRF noted that "organized retail
crime (ORC) losses are a growing problem, with 92 percent of companies surveyed reporting they had been a victim
of ORC in the past year, with 71 percent
reporting that ORC incidents were
increasing. Losses averaged $777,877 per
$1 billion in sales, up 7 percent from last
year's previous record of $726,351. With
such forces at work, the retail industry
needs to employ ever more sophisticated strategies to combat it."

Step 1 - Holiday Seasons
Naturally, holiday seasons such as
Christmas offer a massive influx of
business for retail brands. However,
thanks to unwanted gifts, the number
of products being returned also goes
through the roof.
The increased pressure retailers are
under during these times means they
cannot devote the same amount of time
to thoroughly assessing the legitimacy
of all the returns coming through their



Supply Chain World - Volume 7, Issue 3

Table of Contents for the Digital Edition of Supply Chain World - Volume 7, Issue 3

Contents
Supply Chain World - Volume 7, Issue 3 - Cover1
Supply Chain World - Volume 7, Issue 3 - Cover2
Supply Chain World - Volume 7, Issue 3 - 1
Supply Chain World - Volume 7, Issue 3 - Contents
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