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Retail Solutions That Led to Decreased Returns in 2023

January 23, 2024

Retailers have been testing out and implementing various new return policies to reduce the rate of returns, which saw a decline to 14.5% of total retail sales, amounting to approximately $743 billion. Some innovative approaches include charging for returns from non-loyalty members while offering free returns to loyal customers. goTRG's data reveals the growing popularity of "returnless" policies by retailers. According to our survey, 59% of retailers have started encouraging customers to keep unwanted items instead of returning them, marking a substantial increase from the previous year's 26%. This approach has become a notable trend in the retail industry, aiming to reduce the logistical and financial burdens associated with handling returns, while enhancing customer satisfaction by simplifying the post-purchase experience.

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About goTRG

goTRG is a leading reverse logistics company that specializes in solving returns. goTRG's connected suite of returns management SaaS, reverse supply chain, and ReCommerce services, under one roof, delivers a true end-to-end solution for returns from initiation through resale. goTRG works with retailers, eCommerce brands, and vendors, to deliver the smartest choices for every touch movement and pricing decision, while also preventing items from unnecessarily ending up in landfills.

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