News by Topic
- Search Marketing
- Email Marketing
- Loyalty Marketing
- Mobile Marketing
- Social Marketing
- Viral Marketing
- Trends & Ideas
- Internet Marketing 101
Report: Returns could cost retailers $2.9b
More consumers are shopping online - and returning merchandise in-store. While some returns are legitimate, a new report out from the National Retail Federation suggests fraudulent returns will cost retailers billions this year, and ecommerce is part of the problem.
According to a new BuyVia survey nearly half (40%) of shoppers will 'showroom' before they buy this holiday season. Another 79% say they shop the same stores whether online or offline. Other interesting findings include:
• 44% of respondents spend at least 30 minutes researching a product prior to buying
• 81% prefer to research via mobile browsers or tablet apps
• 25% said they would do between half and three-quarters of their shopping online
"Given the behavioral shopping shift to scouring the web for reputable sellers, shopping and coupon sites, it's no surprise that consumers are more inclined to research via their web browsers," said Norman Fong, Co-Founder and CEO of BuyVia.
All is not rosy in retail-land, though. Data out from the National Retail Federation indicates return fraud could cost retailers nearly $3 billion over the 2012 holiday season. Of those polled, nearly 20% say they've experienced e-receipt return fraud while most (86%) say they allow shoppers to return online purchases in-store. Nearly 4% of those returns are believed to be fraudulent.
"Return fraud comes in a variety of forms and continues to present challenges for retailers trying to grapple with the sophisticated methods criminals are using to rip off retailers," said NRF Vice President of Loss Prevention Rich Mellor. "Even more troubling is the fact that innocent consumers often suffer because companies have to look for ways to prevent and detect all types of crime and fraud in their stores, oftentimes resorting to shorter return windows and limitations on the types of products that can be returned."
Fraudsters are expected to return stolen merchandise, use counterfeited receipts or return used items to stores. Over the entire year nearly $9 billion could be lost due to return fraud.
- Six ways to increase the performance of your Pinterest Pins
- Personalization key to becoming a 'Best Friend Brand'
- Young mobile users annoyed by ads in apps
- Top 3 tips to harness dark social data
- Report: M:Commerce share up one-third
- Consumer engagement with mobile ads on the rise
- Android dominates smartphone market
- How to tell if social is right for your brand
Featured White Papers
- How to Create a Mobile Device Storefront
It is estimated that 55% of Americans regularly shop online at an average of 15.6 online purchases per year. However,...
- Why The Smartest Marketers Have External Writing Teams
Here's why the savvy ones in the business are outsourcing their content right now (and why you should be, too)....