$120 billion in gifts are expected to be returned

Published December 30, 2021 6:42 AM

(KYMA, KECY) - If you've returned or are planning to return a holiday gift this year, you aren't alone.

Returns processor, Optoro, says two out of three shoppers are likely to return at least one present.

In total, more than $120 billion worth of goods are expected to be returned now through the end of January.

All these returns are costing retailers.

This holiday season the cost to return a $50 item could amount to 66% of its sale price, on average. This is up from 59% last year.

The increase in cost is likely due to supply chain issues, higher transportation costs, and discount losses.

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April Hettinger

April was born and raised in San Diego where she loved the beach town and her two dogs, Lexi and Malibu. She decided to trade the beach for the snow and advanced her education at Northern Arizona University in Flagstaff.

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