Company targets major issue with online returns amid holiday surge: 'It's hundreds of thousands of dollars … per year' [Yahoo! Finance]
Under Armour, Inc. Class C (UA)
Last under armour, inc. class c earnings: 2/11 06:55 am
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Source: Yahoo! Finance
According to Reuters , UPS-owned Happy Returns' new AI tool, Return Vision, works by scanning photos of returned items. It operates in tandem with human auditors to analyze return contents and flag suspicious packages. The tool aims to catch fraudulent returns, such as when someone sends back a knockoff item or a different product. It's being tested with brands such as Everlane, Revolve, and Under Armour. One study by Happy Returns and the National Retail Federation found that roughly 9% of returns this year were fraudulent, totaling approximately $76 billion in lost sales. Jim Green, the director of logistics and fulfillment at Everlane, told Reuters : "Not getting back the real items is a double whammy. It's hundreds of thousands of dollars for us alone per year." Fraudulent returns have a dangerous impact on the economy and the planet. They hurt company profits, causing brands to raise prices to offset this shrinkage. Additionally, the returns increase landfill waste bec
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