ReverseLogix Article
How Shoppers are Exploiting Return Policies - and Costing Retailers Billions
Return fraud is costing retailers $101 BILLION annually – and the tactics are getting more sophisticated every day. Our CEO Gaurav Saran was recently featured in New York Post discussing the alarming rise in return scams like “wardrobing,” “empty box” fraud, and “bricking” – where criminals remove key components from electronics before returning them.
The numbers are staggering:
- $743B in total returns in 2023
- $101B of that was fraudulent
- 90%+ of shoppers admit return policies influence their buying decisions