Going circular: The future of retail returns and reverse logistics

Retail executives are paying closer attention to retail returns, the products that consumers return to retailers when those products do not meet their needs. While retail returns are as old as retail itself, returns have grown from 8.8% in 2012 to 14.5% in 2023 as ecommerce gained a larger share of retail sales.
According to NRF and Appriss Retail, 2023 return rates for online purchases were 17.3% versus 10% for purchases made in-store. Returns now represent $743 billion of the $5.13 trillion of retail sales (14.5%). Every one of those returns creates financial and environmental costs.