Story perspectives

Retail Returns Surge: Wealthy Shoppers Hit Hardest

8/31/2025

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Summary

Story summary

Higher-income U.S. households return 5.3% of purchases, while lower-income households return 3.7%, according to a Bank of America report.
Retailers incurred $890 billion in losses from returns in 2024, with return rates doubling since 2019.
Wealthier shoppers return 20% of department store purchases, compared to 11% for lower-income shoppers.
Retailers are tightening return policies, disproportionately affecting lower-income households facing additional barriers.

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Story summary

Higher-income U.S. households return 5.3% of purchases, while lower-income households return 3.7%, according to a Bank of America report.
Retailers incurred $890 billion in losses from returns in 2024, with return rates doubling since 2019.
Wealthier shoppers return 20% of department store purchases, compared to 11% for lower-income shoppers.
Retailers are tightening return policies, disproportionately affecting lower-income households facing additional barriers.