How To Solve the $17 Billion CE Return Problem
The United States consumer electronics industry is battling a behemoth, escalating and unsustainable problem: product returns.
The problem is not new. It has existed as long as there has been a CE industry. But in recent years customers' expectations have risen, products are increasingly more complex, and efforts to stop the wave of resulting returns have not kept pace. For companies to achieve high performance, this severe problem needs to be comprehensively addressed. Transformative systemic changes are needed now.
Accenture arrived at this conclusion based on new research revealing that customers returning electronics products will cost U.S. consumer electronics retailers and manufacturers nearly $17 billion this year, an increase of 21 percent since 2007. These costs include receiving, assessing, repairing, reboxing, restocking and reselling returned products. The report, "A Returning Problem: Reducing the Quantity and Cost of Product Returns in Consumer Electronics," captures key findings and insights based on the survey.