SAWT BEIRUT INTERNATIONAL

| 25 February 2024, Sunday |

More US retailers adopt ‘keep it’ returns policies to shelter profits in holiday surge

A growing number of U.S. companies may advise holiday buyers to keep things that would cost more to ship back than their actual value when they return merchandise bought during Black Friday and Cyber Monday internet shopping binges.

According to a survey conducted by returns services business goTRG, which polled 500 executives at 21 large retailers, including Walmart (WMT.N) and Amazon.com (AMZN.O), 59% of merchants this year offer “returnless” or “keep it” policies for unwanted products whose return fees exceed their worth.

Last year, 500 retail executives said 26% of companies had such policies, said goTRG CEO Sender Shamiss, whose company counts Walmart among its clients. They didn’t break out the number of companies involved in last year’s survey.

As retailers adopt technology to root out excess costs, more are embracing returnless policies for certain online purchases, said Shamiss, who declined to name companies that use them. That information is “not something that retailers want out there” due to worries the policies could be abused by shoppers, he said.

    Source:
  • Reuters