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NRF: Returns Reach 14.5% of Sales in 2023, Fraud Contributed $101 Billion in Losses

Retail TouchPoints

of all retail sales, according to a report from the National Retail Federation and Appriss Retail. This means that for every $1 billion in sales, the average retailer incurred $145 million in merchandise returns. of all retail sales and totaling nearly $817 billion. The 2023 numbers were released on Dec.

Retail 289
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Fanatics Unveils Plans for Multi-Sport Fan Event in NYC: ‘Sports Fans Deserve a Place to Gather’

Retail TouchPoints

The event will feature an all-day “trading pit” for card collectors of all ages, featuring “Collecting 101” content for novices, as well as a display of some of the world’s rarest cards and sports memorabilia. Additional fan engagements will include livestreamed collectibles “breaks” through the Fanatics Live platform.

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How Hydra Health is Transforming the Hospital Gift Shop

Retail TouchPoints

Hospitals and medical campuses typically look at retail as an essentially insignificant element in their patient, visitor and employee experiences. We focus on bringing in a retail experience that feels modern and value-additive to the employees, patients and visitors on-site,” Kloor explained.

Gifts 256
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Stylitics Raises $80M for its AI-Powered Visual Merchandising Platform

Retail TouchPoints

Visual merchandising solution Stylitics has raised $80 million in series C funding from PSG Equity , which now holds a minority stake in the company. The new investment from PSG brings the total amount Stylitics has raised since it was founded in 2011 to $101 million.

Fashion 232
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Closing the Billion-Dollar Gap in Returns Waste

Retail TouchPoints

Recommerce, the sale of secondhand merchandise, is a hot topic as consumers become more enthused about recycling goods rather than contributing to enormous mountains of landfill waste. retail segment; the National Retail Federation (NRF) found the value of merchandise returned by consumers last year topped nearly $750 trillion.

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Can Experiential Retail Be Too Experiential, And Not Enough Retail?

RTP blog

Experiential retail has been a hot industry buzzword in recent years, as brick-and-mortar stores scramble to find ways to drive traffic, whether in the form of events, entertainment or even technology-based experiences in VR and AR. And in-store retailing is, at its heart, about bringing people together into a community.

Retail 150
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Why Investors are Racing to Buy Up Amazon’s Hottest Third-Party Sellers

Retail TouchPoints

“The math is pretty shocking,” said James Thomson, a former Amazon executive and now Chief Strategy Officer of Buy Box Experts , an agency that advises Amazon sellers, in an interview with Retail TouchPoints. Retail Veterans Stake Their Claims Amid Growing Number of Rollup Firms. There is massive financial arbitrage here.