Return fraud costs retailers billions of dollars every year in the form of criminals who return stolen merchandise, use counterfeit receipts, or even return items already worn and/or used that are not defective. According to NRF's 2012 Return Fraud Survey*, completed by loss prevention executives at 60 retail companies, the industry will lose an estimated $8.9 billion to return fraud this year, and $2.9 billion during the holiday season alone. Overall, retailers estimate 4.6 percent of holiday returns are fraudulent.
"Return fraud comes in a variety of forms and continues to present challenges
More Suggested Content:
Black Friday CE Sales Slide 5.6 Percent
December 4, 2012
Retail sales of consumer electronics on Black Friday dropped 5.6 percent from last year, a steeper decline than expected, according to NPD Group research released Tuesday.
Successful products on Black Friday included Android tablets and larger flat-panel TVs. Less successful ones were smaller flat-panel TVs and notebook PCs.
Buying Power : HTSA Fall Meeting Focuses on New Tech, Bright Future
November 1, 2012
“Focused Energy” was the slogan for the Fall 2012 meeting of the Home Technology Specialists of America, and it was not an empty promise. The meeting, held Oct. 8-10 in Chicago, was all about pumping up the trade group’s member dealers to focus their energies on upping sales in today’s challenging retail landscape.