# Retail Experts Share Tips to Reduce the (Hefty) Cost of Product Returns

- Link: https://www.widthness.com/retail-experts-share-tips-to-reduce-the-hefty-cost-of-product-returns-2/
- Published: 2022-12-19T09:15:33-06:00
- Author: Curated by John Wysocki

According to the National Retail Federation, an estimated $761 billion worth of products sold by retailers last year was returned, or an average of 16.6% of total retail sales.— Getty Images / SolStock. Article by: Mark Hamstra. CO by US Chamber of Commerce – December 12, 2022. Why it matters: Merchandise totaling $761 billion in sales was returned by consumers last year, according to the National Retail Federation. As rising e-commerce purchases increase product return volumes, retailers are seeking to make their processes more efficient and reduce the need for consumers to return goods. The tips suggested by experts include providing detailed product description pages, monitoring customer feedback to adjust merchandising strategies, and encouraging customers to exchange items rather than ask for refunds. […] Click here to view original web page at www.uschamber.com Curated by John Wysocki See Full Bio