Rundown: Return fraud on the rise, Nordstrom going private and Big Lots' lifeline
The Modern Retail Podcast
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The Rise of Retail Return Fraud
This chapter examines the escalating problem of retail returns, which cost businesses $685 billion in 2024. It highlights the complexities of return fraud, particularly 'wardrobing' and 'cross retailer fraud', and how social media strategies have exacerbated the issue. The discussion also focuses on the response of retailers to these challenges, including the implementation of stricter return policies to manage fraudulent behaviors.
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