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Jun 27 - Just keep your returns: Stores weigh paying you not to bring back unwanted items



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 2 months ago '16        #1
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00010111  topics gone triple plat - Number 1 spot x7
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Jun 27 - Just keep your returns: Stores weigh paying you not to bring back unwanted items
 

 
The chaotic mix of record fuel prices and an unending supply chain crisis have retailers considering the unthinkable: Instead of returning your unwanted items, just keep them.

In recent weeks, some of the biggest store chains, including Target (TGT), Walmart, (WMT) Gap (GPS), American Eagle Outfitters (AEO) and others have reported in their latest earnings calls that they have too much inventory of stuff ranging from workout clothes, spring-time jackets and hoodies to garden furniture and bulky kids' toys. It's costing them tons of money to store it.

Now add on to that glut another category of product that stores have to deal with: returns.

So instead of piling returned merchandise onto this growing inventory heap, stores are considering just handing customers their money back and letting them hang onto the stuff they don't want.

"It would be a smart strategic initiative," said Burt Flickinger, retail expert and managing director of retail consultancy Strategic Resource Group. "Retailers are stuck with excess inventory of unprecedented levels. They can't afford to take back even more of it."

Returned products are handled in a number of different ways, he said. Retailers take back merchandise from the customer, evaluate it, and if it's in good
condition put it back on the shelf at the same or lesser price.

They can refurbish damaged returns and sell them for less or offload them to liquidators to resell. They also can sell returned products to foreign liquidators for sale in Europe, Canada or Mexico.

"Given the situation at the ports and the container shortages, sending product overseas isn't really an option," said Flickinger. Lastly, retailers can hire third party firms to handle all aspect of merchandise returns for them.

Each of these options, however, tack on additional costs for retailers, he said.

"For every dollar in sales, a retailer's net profit is between a cent to five cents. With returns, for every dollar in returned merchandise, it costs a retailer between 15 cents to 30 cents to handle it," said Flickinger.

There is one other option for retailers to address returns while avoiding more product bloat and that's to consider a 'returnless return,' said Steve Rop, chief operating officer with goTRG, a firm that processes over 100 million returned items annually for companies like Wal-Mart, Amazon and Lowe's.

Rop said his company's clients are 100% considering offering the "keep it" option for returns this year, although he wouldn't disclose if any of his customers have implemented the "Keep it" returns policy yet.

In some instances, when they determine it would be easier, some retailers advise customers to just keep or donate their return after issuing a refund. Walmart said it had nothing to share at this time. Lowe's didn't provide a comment for the story.

"They're already discounting in stores to clear out products but, when there's heavy discounting, buyer's remorse goes up. People are tempted to buy a lot to only return it later," he said.

Refunding customers while simultaneously letting them keep their returns isn't a new practice, said Rop. "It started with Amazon several years ago," he said.
The offer makes sense for some types of products -- lower price-tier bulky items like furniture, kitchen appliances, home decor, baby chairs, walkers, strollers where it's costly for the retailer to cover the shipping cost for the return.

"Other products like kids' toys, footwear, towels and bedding raise sanitary concerns when it comes to returns. It could also apply to these categories," he said.

Another concern with cheaper items: Stores typically discount returned products, so the amount of money they can make on an inexpensive return is miniscule -- and may not be worth the tradeoff, says Keith Daniels, partner with Carl Marks Advisors.

Still, a "keep it" policy has its own disadvantages, namely: Companies will need to ensure that they don't become victims of fraud.

"One thing retailers need to track and ensure is that customers that become aware of the [Keep it] policy do not begin to abuse it, by seeking free merchandise over a series of orders by getting a refund but getting to keep the merchandise," said Daniels.

visit this link https://edition.cnn.com/2 .. rns/index.html
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24 comments
 

 2 months ago '21        #2
Des81 
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Big Box Stores like Sams and Costco are prime examples I was put up on this last year a guy told me he returned his couch he had 5+ years to Costco. My wife had been complaining about a mattress we got on the fly at Sams a few years prior so I decided to call them, the worst they could say would be no returns or it’s outside the return policy. They legit told me I could return it I just needed to bring in the tag on the side. They didn’t want the mattress back. I’m the most skeptical person so I took a picture of the tag went in and they gave me the option to swap, store credit or cash out. I cashed out on a mattress I had for 3 years and they didn’t want it back. True story
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 2 months ago '05        #3
bqstudios  topics gone triple plat - Number 1 spot x3
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 Des81 said
Big Box Stores like Sams and Costco are prime examples I was put up on this last year a guy told me he returned his couch he had 5+ years to Costco. My wife had been complaining about a mattress we got on the fly at Sams a few years prior so I decided to call them, the worst they could say would be no returns or it’s outside the return policy. They legit told me I could return it I just needed to bring in the tag on the side. They didn’t want the mattress back. I’m the most skeptical person so I took a picture of the tag went in and they gave me the option to swap, store credit or cash out. I cashed out on a mattress I had for 3 years and they didn’t want it back. True story
Thats pretty crazy for something you owned for 3 years. but yeah Amazon been doing this for me for years. certain random items. They just tell me "i dont need to return it" and ill still get the refund. Usually on small items, but its still like hittin the lottery when it happens.
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 2 months ago '19        #4
Stacksonem  topics gone triple plat - Number 1 spot x2
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Not gonna front, Target has been giving me a bunch refunds since covid started on a lot of items. I genuinely try to return things, but there have been a lot of times they told me to just keep it and gave me a refund. I don’t take advantage though because I actually like the company and they have great customer service IMO.
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 2 months ago '11        #5
Tony Franks  topics gone triple plat - Number 1 spot x2
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thats crazy man. It sounds good for consumers but it looks like a bad sign that they are ruining our world with this bullsh*t plandemic.

Docks been filled to capacity, and wasnt sh*t moving due to "covid protocols". Now companies having real issues with receiving or holding items in stock.

Our leaders are allowing it to get to the point where everyone is fu*ked and can't get food n other sh*t we need.


Then they start feeding a war between Ukraine and Russia when Americans are struggling, only to make things get better for Russia and worse for American Citizens


Same time, all the corporations are raising prices and raking in record profits, while pretending to be squeezed by Russia and the unvaccinated

 2 months ago '06        #6
Skateboard T  topics gone triple plat - Number 1 spot x7
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 Tony Franks said
thats crazy man. It sounds good for consumers but it looks like a bad sign that they are ruining our world with this bullsh*t plandemic.

Docks been filled to capacity, and wasnt sh*t moving due to "covid protocols". Now companies having real issues with receiving or holding items in stock.

Our leaders are allowing it to get to the point where everyone is fu*ked and can't get food n other sh*t we need.


Then they start feeding a war between Ukraine and Russia when Americans are struggling, only to make things get better for Russia and worse for American Citizens


Same time, all the corporations are raising prices and raking in record profits, while pretending to be squeezed by Russia and the unvaccinated
In America it's more an issue of labor disputes/labor shortage combined with the massive influx in consumer demand. It really had nothing to do with closing the ports because our ports never shut down due to covid, they were always considered essential workers.

So not only do you have the general "great resignation" occurring, but you have major labor disputes going on with between unions and train lines like BNSF and Union Pacific who's failed to resolve their labor dispute while also failing to hire new laborers, or train them quickly.

Figures said that Covid infections took out about 10% of workers off the docks as well, but there wasn't any major impact due to vaccine mandates or anything like that.

So, while "the pandemic" generally is to blame for this, it isn't because of covid protocols or anything like that, it's mainly due to the inherent effects of consumerism and capitalism.
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 2 months ago '11        #7
Tony Franks  topics gone triple plat - Number 1 spot x2
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 Skateboard T said
In America it's more an issue of labor disputes/labor shortage combined with the massive influx in consumer demand. It really had nothing to do with closing the ports because our ports never shut down due to covid, they were always considered essential workers.

So not only do you have the general "great resignation" occurring, but you have major labor disputes going on with between unions and train lines like BNSF and Union Pacific who's failed to resolve their labor dispute while also failing to hire new laborers, or train them quickly.

Figures said that Covid infections took out about 10% of workers off the docks as well, but there wasn't any major impact due to vaccine mandates or anything like that.

So, while "the pandemic" generally is to blame for this, it isn't because of covid protocols or anything like that, it's mainly due to the inherent effects of consumerism and capitalism.
Ive seen the piles of freighters my damn self at the docks and piled up outside of big stores like walmart. And no, the docks didnt "shut down". Everything is moving very slowly due to bs covid protocols. Its hard to get things in/out.
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 2 months ago '18        #8
DUCEDUCE  topics gone triple plat - Number 1 spot x2
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This is another shorty sighted tactic that consumers will pay for down the line
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 2 months ago '06        #9
Skateboard T  topics gone triple plat - Number 1 spot x7
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 Tony Franks said
Ive seen the piles of freighters my damn self at the docks and piled up outside of big stores like walmart. And no, the docks didnt "shut down". Everything is moving very slowly due to bs covid protocols. Its hard to get things in/out.
lol I'm not saying the US ports aren't backed up bro calm down.

I'm saying the reason they're backed up is because they don't have enough manpower to unload the cargo fast enough.

The manpower shortage has nothing to do with covid protocols, it has to do with labor disputes. You can literally google "railroad strike" yourself and see all the articles from the past few months about the BLET organizing strikes of BNSF and Union Pacific workers. Teamsters are striking in many places too.

Here:















Meanwhile, I've used multiple strings and haven't found a single article suggesting the reason why the ports are backed up is because of US covid protocols.

In the USA, the backed up ports have literally zero to do with covid protocols and everything to do with labor shortages.


Last edited by Skateboard T; 06-27-2022 at 07:59 AM..
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 2 months ago '11        #10
Tony Franks  topics gone triple plat - Number 1 spot x2
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 Skateboard T said
lol I'm not saying the US ports aren't backed up bro calm down.

I'm saying the reason they're backed up is because they don't have enough manpower to unload the cargo fast enough.

The manpower shortage has nothing to do with covid protocols, it has to do with labor disputes. You can literally google "railroad strike" yourself and see all the articles from the past few months about the BLET organizing strikes of BNSF and Union Pacific workers. Teamsters are striking in many places too.

Here:















Meanwhile, I've used multiple strings and haven't found a single article suggesting the reason why the ports are backed up is because of US covid protocols.

In the USA, the backed up ports have literally zero to do with covid protocols and everything to do with labor shortages.
But all the articles you posted are from 2022. This issue began when the pandemic started. And of course you wont find an article blaming the bad covid protocols. For anything covid related, you will never find a negative mainstream article bruh.

I hope you at least recall all the truck drivers protesting and walking away from work due to the demand that they all be vaccinated, while they allow Mexico to ship sh*t over here with no jabs for their workers.

You likely won't find that in an article either.


Last edited by Tony Franks; 06-27-2022 at 09:36 AM..

 2 months ago '06        #11
Skateboard T  topics gone triple plat - Number 1 spot x7
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 Tony Franks said
But all the articles you posted are from 2022. This issue began when the pandemic started. And of course you wont find an article blaming the bad covid protocols. For anything covid related, you will never find a negative mainstream article bruh.
Yes they're from 2022 and document disputes that's been going on since before the pandemic.

Also, major port congestion didn't start until well in to the pandemic actually. Dwell times at San Pedro Bay were pretty much consistent all the way up to September of 2020, which was a good 7 months in to the pandemic but before any covid protocols had even been instituted. There were no mandates, no vaccines, nothing besides "stop the spread" by working from home, and as we discussed, the port was designated as essential so there was no reduction in hours there.

So, even just looking at the timeline, logic dictates that the congestion had nothing to do with covid protocols because it started before any covid protocols were even in place. People were literally blaming Trump for NOT putting protocols in place by the time congestion skyrocketed in September of 2020.

I'm not only looking at mainstream articles either, I'm talking about even far right sources. Literally nobody, on any side of the debate is writing that US ports are backed up due to covid protocols.

It's very simple and obvious, the ports are backed up because we have a massive labor shortage at the same time we had a massive influx in consumer purchasing. The ports simply didn't have the manpower to process shipments fast enough, that's it.
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 2 months ago '07        #12
yola  topics gone triple plat - Number 1 spot x82
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nd others have reported in their latest earnings calls that they have too much inventory of stuff ranging from workout clothes, spring-time jackets and hoodies to garden furniture and bulky kids' toys. It's costing them tons of money to store it.
how much would it cost to give it to the shelters and the less fortunate?

christians gunna christian
+5   

 2 months ago '06        #13
cleavon15  topics gone triple plat - Number 1 spot x4
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 Stacksonem said
Not gonna front, Target has been giving me a bunch refunds since covid started on a lot of items. I genuinely try to return things, but there have been a lot of times they told me to just keep it and gave me a refund. I don’t take advantage though because I actually like the company and they have great customer service IMO.
I wouldn’t take advantage either.
Pretty sure they keep a record of what you return, amount, and how often.

They have an internal limit to see try to prevent abuse of the return policy.
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Top 10 most propped recently  2 months ago '20        #14
Xiox  topics gone triple plat - Number 1 spot x1
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Finally some good news

 2 months ago '15        #15
Chessbully 
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I see this going very bad and there won't be no more refunds after the plan gets scammed too many times.
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 2 months ago '15        #16
Djkataz 
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Boxden members going to abuse this and ruin for everybody lol



+3   

 2 months ago '20        #17
Likeaboss38732  topics gone triple plat - Number 1 spot x2
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Tell them to just lower the price if they want to slice inventory.. hopefully people do catch on & resell that junk on eBay or something
+2   

 2 months ago '04        #18
xbossxplayax 
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its crazy. so you can potentially buy something with intention to keep but still ask to return... voila, you have something for free?

how do the stores know if someones not pulling that bs?
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 2 months ago '04        #19
Zirov 
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 Skateboard T said
lol I'm not saying the US ports aren't backed up bro calm down.
Lol bro this guy youve told to calm down (he is wayyy to emotional fr fr) is obviously taken down the moron Qaren utube hole, you can tell by how easily emotionally manipulated he is by corny magat buzz words. Full on muppet.
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 2 months ago '05        #20
Gully Reloaded 
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 Tony Franks said
thats crazy man. It sounds good for consumers but it looks like a bad sign that they are ruining our world with this bullsh*t plandemic.

Docks been filled to capacity, and wasnt sh*t moving due to "covid protocols". Now companies having real issues with receiving or holding items in stock.

Our leaders are allowing it to get to the point where everyone is fu*ked and can't get food n other sh*t we need.


Then they start feeding a war between Ukraine and Russia when Americans are struggling, only to make things get better for Russia and worse for American Citizens


Same time, all the corporations are raising prices and raking in record profits, while pretending to be squeezed by Russia and the unvaccinated
Most of what you said is blatantly and objectively false lmfao.

 2 months ago '05        #21
Gully Reloaded 
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 xbossxplayax said
its crazy. so you can potentially buy something with intention to keep but still ask to return... voila, you have something for free?

how do the stores know if someones not pulling that bs?
It doesn't matter. They'll likely just develop some algorithm that says if Customer A returns more than X dollar amount within Y days, tell that motherfu*ker to pull up. Right now it is costing them more to store and return items than pay out refunds, according to whatever analysis they did.

Companies aren't stupid and never do things for no reason. They will always seek the most cost-effective method to increase profits.

 2 months ago '17        #22
cabeast93 
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Ppl are insane with how they return stuff. I work and Home Depot part-time and ppl will return empty boxes, stuff we don’t sell, and plywood say a 2x4 sheet , they will cut around the tag and return a 1x1 piece.

 2 months ago '10        #23
PaperBoy971 
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 Skateboard T said
So, while "the pandemic" generally is to blame for this, it isn't because of covid protocols or anything like that, it's mainly due to the inherent effects of consumerism and capitalism.

You're not totally off base kid. Keep it up.
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 2 months ago '21        #24
BigChiefLA  topics gone triple plat - Number 1 spot x2
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 Djkataz said
Boxden members going to abuse this and ruin for everybody lol



I wouldn’t give a fu*k. I haven’t gotten my 40 acres and a mule yet. So everything is interest to me. Run all this sh*t y’all!
-1   

 2 months ago '05        #25
Schavez98 
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How many more signs do we need to realize the economy is broken?
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