Rising Trend in “Keep It” Policies: Retailers Encouraging Shoppers to Keep Unwanted Items

Rising Trend in "Keep It" Policies: Retailers Encouraging Shoppers to Keep Unwanted Items

Sabiha Rajpoot | December 1, 2023 | 05:31 PM IST | United States of America | Follow on Google News

Rising Trend in “Keep It” Policies: Retailers Encouraging Shoppers to Keep Unwanted Items

Rising Trend in “Keep It” Policies: Retailers Encouraging Shoppers to Keep Unwanted Items

As the holiday season unfolds, a growing number of U.S. retailers are adopting innovative strategies to manage the surge in returned goods from Black Friday and Cyber Monday online shopping sprees. A recent survey conducted by returns services firm goTRG reveals a significant uptick in the adoption of “returnless” or “keep it” policies. Unlike previous years, where only 26% of companies had such policies, this year sees a substantial increase to 59%, showcasing a notable shift in the retail landscape.

The Evolving Landscape: Technology Drives the Adoption of Returnless Policies

Retailers are increasingly turning to technology to tackle excess costs associated with returns. While the survey did not disclose the names of companies implementing these policies, goTRG CEO Sender Shamiss emphasizes the reluctance of retailers to disclose such information due to concerns about potential abuse by shoppers. The adoption of returnless policies reflects a broader trend as retailers leverage technology to optimize costs and enhance efficiency.

Returns Super Bowl: Managing the $173 Billion Holiday Returns Surge

As U.S. shoppers are projected to return a staggering $173 billion worth of holiday purchases this year, retailers are grappling with the logistical and financial challenges associated with returns. According to Optoro, a firm specializing in returns management, this figure represents a 28% increase from the previous year. With the holiday returns season stretching from the day after Black Friday into February, retailers are exploring various strategies, including returnless policies, to navigate this returns Super Bowl.

Sabiha Rajpoot

Sabiha Rajpoot, a young journalist, having BA- Journalism degree, writes on different scenarios. Sabiha is also a doctor degree at DHMS.