Blog: US retailers forecast $3.4bn holiday fraud loss

Katie Smith | 9 December 2013

Holiday return fraud is likely to cost US retailers US$3.39bn this year, new research suggests. 

According to a survey by the National Retail Federation (NRF), 5.8% of holiday returns are expected to be fraudulent in 2013, up slightly from 4.6% last year.

Nearly all (94.8%) retailers surveyed said they have experienced the return of stolen merchandise in the last year, while 69% noted they have experienced the return of products purchased on fraudulent or stolen tender.

In addition, 29.3% found criminals using counterfeit receipts to return merchandise.

One of the biggest issues retailers faced was 'wardrobing' - the return of used, non-defective merchandise such as occasion wear.

To combat this, many companies have employed specific tactics, with 62.1% having been victims of wardrobing in 2013, down from 64.9% last year.

Sectors: Apparel, Retail

BLOG

Likely shifts in the sourcing landscape in 2017

Continuing our look at what lies ahead for the apparel industry and its supply chain in 2017, the panel of industry experts consulted by just-style last week tackled likely shifts in the sourcing land...

NEWS

UK clothing factory workers paid half the minimum wage

UK garment factory workers producing for fashion brands including New Look, River Island and Boohoo have been found to be working for less than half the minimum wage, an undercover investigation has f...

BLOG

Trump trade policies and China tensions top concerns

This week our focus turns to first thoughts from a panel of industry experts consulted by just-style on the challenges and opportunities likely to face the apparel supply chain in 2017, with prospects...

BLOG

Happy New Year – and a first look at 2017

Welcome back after the holiday break, and from the team here at just-style I’d like to wish all our readers a happy and prosperous New Year....

BLOG

New re:source to help unravel sourcing decisions

Apparel sourcing is a complex process built on a mix of location, logistics, lead-time, price, compliance, risk and reliability. And it's in a constant state of flux as retailers, brands and manufactu...

just-style homepage



Forgot your password?