Even with a continuing global pandemic, 2021 turned out to be an excellent year for many retailers. The National Retail Foundation reports that holiday sales hit a record $886.7 billion in 2021, a 14.1% jump from the prior year.
Despite rising inflation, labor shortages, supply chain issues, and the new omicron variant, consumers continued to spend money at record rates and businesses delivered. But many consumers are also returning items post-holiday, which poses challenges for many businesses. When approached correctly, here is how holiday returns can actually benefit your supply chain and business.