https://techcrunch.com/2022/08/09/returnlogic-bags-new-capital-to-make-returning-items-less-of-a-nightmare/

Online sales reached $1 trillion last year, and of that, $218 billion of merchandise was returned, according to the National Retail Federation. What’s more is that for every $1 billion of items sold, retailers incur over $160 million in returns.

We’ve seen companies get creative — for example, Amazon teaming up with Kohl’s in 2019 for returns and Happy Returns partnering with retailers like Staples last year. The “online shopping boom” led to more returns thanks to consumers getting “used to ordering multiple sizes, colors or variations of a product to try out at their leisure, and then return what they don’t want,” Rick Berger, president of NewStore, told TechCrunch. The platform enables retailers to run their stores on the iPhone. In addition, “customers have also been conditioned by the e-commerce giants to expect a fast, simple and free return process, regardless of who the seller is.”