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Retail return fraud is soaring, costing retailers $101 billion in 2023. Rising issues like wardrobing and ORC are forcing stricter policies and new tech to balance fraud prevention and customer satisfaction.
A deeper look into retail's escalating returns fraud issue with insights gleaned from ReturnPro's survey of more than 400 U.S. retailers.
Inflation impacts the economy broadly, increasing consumer prices by 20.8% since February 2020. Consumers prioritize necessities, compare prices, and research purchases more, affecting product returns. Retailers adapt by offering detailed product info and flexible return policies.
