Product returns are wasteful for companies and the planet. Here’s how to change that

Product returns are financially and environmentally costly — but they don’t have to be. Here are three ways companies can rethink returns to boost revenues and reduce waste.

In this story published May 30, 2022, in Fast Company:

Processing the average return costs companies 59% of the original sales price of the item. Every year, U.S. companies spend an estimated $50 billion on product returns. At the same time, those returned goods are responsible for massive landfill waste and 27 million tons of carbon dioxide emissions annually.

– Hitendra Chaturvedi, professor of practice in supply chain management