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

2019 off to a positive start

Getting 2019 off to a positive start, it seems US apparel retailers saw some holiday cheer, with strong sales momentum that started during the back-to-school season carrying on to Christmas....

BLOG

UN sets new Fashion Industry Charter for Climate Action

43 leading fashion brands, retailers and suppliers – including Adidas, Burberry, Gap Inc, H&M Group, Inditex, Kering, Levi Strauss & Co, and PVH Corp – are backing the UN’s new Fashion Industry Charte...

BLOG

Decathlon's decade-long eco-labelling project

Global sporting goods giant Decathlon is nearing the finishing line on a decade-long project that will see all textile and footwear items labelled with their environmental impact by the end of next ye...

BLOG

Regional supply chains shape up

Regional patterns in world textile and apparel trade are becoming increasingly important, according to an analysis using data from the re:source by just-style sourcing tool. The trend reflects both th...

just-style homepage



Forgot your password?