Beyond the Mystery: Unveiling the Why and How of Returns for Effective Management and Fraud Prevention in Retail
Returns are crucial for fostering customer satisfaction and building trust in the ever-changing consumer preferences. However, their growing prevalence is leading to two unique situations: increased returns and fraudulent returns, both significantly impacting the retail industry’s profitability. This paper explores the factors driving the surge in genuine customer returns and return fraud. It presents effective strategies to minimise losses and optimise the return process, to make it resilient and profitable. Ultimately, this paper seeks to strike an optimal balance between meeting customer expectations and mitigating the impact of returns.
