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December 4, 2012 · 2 Comments

Return Fraud Will Cost Retailers $3B this Holiday Season

Despite the high potential for loss, sellers say they'll keep their policies.

Merchants will lose nearly $3 billion on bogus returns this holiday season. The National Retail Federation reports sellers will miss out on $2.9 billion because of return fraud, estimating that 4.6 percent of holiday returns will be fraudulent. Overall, merchants are expected to lose $8.9 billion this year when shoppers return non-defective items after wearing or using them, when buyers return products with counterfeit receipts and when consumers return stolen merchandise. Read More

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