How Retailers Like T.J. Maxx And Home Depot Quietly Target 'Problem' Returners
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1156 How Retailers Like TJ Maxx And Home Depot Quietly Target Problem Returners YouTube
httpswwwyoutubecomwatchvXZemo1KVQMA

Transcript
0000 Retailers have a problem And no Im not talking about inflation or shrinkage or self checkout lines retailers have a return problem Dr Overstreet There was about 5 trillion worth of retail sales last year 145 of those were returned That is huge 743 billion worth You VO might have heard some retailers are changing return policies shrinking return windows limiting the types of items that can be returned even charging for returns in some cases In fact 81 of retailers implemented pay to return
0034 policies in some capacity and 2023 Contessa Brewer Kroening Amazon Macys and others have added fees or theyve shortened the window for returning items purchased online Broadcaster Return fraud has caused a number of retailers to tighten their return policies writ large VO Now most people assume these crackdowns have to do with fraudulent returns or return scams and they do to an extent
0055 Retailers expect 16 and a half percent of holiday returns to be fraudulent this year Thats 24 and a half billion dollars worth The reality is returns have always been a drag on the bottom line And the advent of ecommerce accelerated the issue As retailers started absorbing the cost of postage transit and lost items
0115 Its no wonder big box companies are starting to change their policies making it harder for fraudsters and cutting down on the cost of returns across the board You changed a little bit of some of your policies on returns And when you actually refund people and you know you try to make sure you know you got the right product before you actually authorize the refund
0131 But what if I told you this is just the latest effort and cracking down on return losses What if retailers have been quietly tracking your return behavior for years First lets establish what fraudulent return behavior is Mitul Jain A lot of customers will send back a broken product or try and defraud the retailer by sending back something else in the box
0157 Unknown Now those are pretty easy examples And often those returners know theyre engaging in fraudulent behavior But theres also times when people take advantage of return policies things like wardrobing where a shopper buys a clothing item for an event with the intent of returning after well you may be following the basics of a return policy
0215 Retailers viewed this as problematic behavior Its the people who are misinterpreting are not following the intent or policies are really problematic for retailers Now if youre still thinking Im not a fraudulent returner I always follow the rules This obviously doesnt apply to me
0229 Sure maybe not But that doesnt mean you havent been flagged in the past It isnt sort of a binary event It isnt that either youre a good returner or bad returner Essentially what retailers are trying to do is ensure that every customer is profitable on their own A 2018 report by the Wall Street Journal documented what was and still is it largely unspoken policy of big box retailers tracking and profiling risky return behavior even going as far as banning customers from returning at the store

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