Record-breaking holiday returns expected as consumers remain wary of exchanging gifts in-store [MSNBC.com]
Macy's Inc (M)
Last macy's inc earnings: 2/25 06:55 am
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Source: MSNBC.com
The massive spike in online shopping during the pandemic has triggering a record-breaking number of returns, as consumers remain wary about exchanging items in a physical store.Online spending grew 32.2 percent this past holiday season to hit a record total of $188.2 billion, according to new data from Adobe Analytics.Some companies letting consumers keep returnsJan. 11, 202101:07But not everyone got what they wanted this year. Last week, UPS announced it was expecting a bounceback of 8.75 million dismissed gifts — a 23 percent increase from last year — turning “National Returns Day” into “National Returns Week.”According to the National Retail Federation and Appriss Retail, retailers are expecting 13.3 percent of merchandise sold during the holiday season to be returned, equating to an estimated cost of $101 billion, or one-quarter of the 2020 return total.This surge is putting pressure on major retailers and carriers to ease the process — and headaches — for customers looking to sta
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M
Earnings
- 2/27/24 - Beat
M
Sec Filings
- 4/19/24 - Form 3
- 4/19/24 - Form 3
- 4/19/24 - Form 3
- M's page on the SEC website