‘Extended’ holiday return season woes for retailers

Record figure: Shoppers are seen walking out of Walmart with a full shopping cart in Colorado. It is estimated that shoppers will return US$120bil (RM501.8bil) in goods between Thanksgiving and Jan 31. — AFP

NEW YORK: Major United States retailers’ longer return policies, launched during the pandemic this year to lure consumers, could leave them facing much higher costs if shoppers bring back a record-setting US$112bil (RM469bil) in gifts bought during the extended holiday shopping season.

Retailers entered the 2021 holiday season facing a supply-chain logjam, with inventories at lows unseen since 1992.