There was an interesting article on NPR about the increase in buyer’s remorse. Joseph LaRocca, vice president of loss prevention with the National Retail Federation estimates that retailers are expected to experience nearly $220 Billion (yes, that’s with a “B”) in returns in 2008.
That represents an unprecedented risk to retailers because with that many returns, it will be increasingly difficult to separate the real return from a fraudulent return.
Now, more than ever, it is critical for retailers to use an exception reporting system that lets them examine refunds to insure there is a person present and an actual item is returned.