70% of consumers prefer in-store returns, exchanges

About 70 percent of consumers said they would go to a store to return or exchange a gift from this holiday season, while only 9 percent prefer to do the return online. According to a study conducted by Retale, a location-based mobile platform, 22 percent had no specific preference on where to return, but those that preferred in-store claimed it was perceived as more convenient.

Almost one-quarter of survey participants plan to return a holiday gift—30 percent of males and 20 percent of females expressed interest in a return or exchange, reported MediaPost.

When asked about in-store versus online returns and exchanges, 62 percent of participants found in-store to be more convenient, while 21 percent found it inconvenient. And 45 percent said that online returns and exchanges were convenient, compared with 38 percent who said it was inconvenient.

Eighty-five percent of respondents said major retailers should allow in-store returns for online purchases.

The hardest part about returning online? Thirty-four percent of respondents noted keeping track of receipts; 26 percent said shipping and handling; 20 percent said confusing return policies; and 1 percent cited additional costs.

Retailers are preparing for the backlash of the post-holiday return season. Return fraud will cost the retail industry an estimated $10.8 billion this year. And in the holiday season alone, retailers will lose about $3.8 billion due to return fraud, according to the National Retail Federation's 2014 Return Fraud Survey.

For more:
-See this MediaPost article

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