Holiday Return Rates Revealed: Midwest Has Greatest Rate Of Returns

The Retail Equation Releases Stats Revealing Volume of 2013 Holiday Returns

Statistics gathered during the seven days after Christmas reveal some interesting facts about consumer return behavior, according to The Retail Equation, the industry leader in retail transaction optimization solutions.

The Midwest states had the highest rate of returns, when comparing total dollars purchased to total dollars returned and exchanged. Ohio led the pack with a rate of returns of 25.6 percent; Illinois had the second highest with 24.8 percent. The state with the least rate of returns was Nevada with 16 percent. The Retail Equation’s data also indicated that the highest rate of returns nationwide occurred at 12:42 p.m. (Pacific Time) on Dec. 26.  And, while Dec 26 had the highest total returns, almost 3x the typical number of returns during the holiday season, there were 4 other days that more than doubled the normal return volumes.

“We have return authorization solutions deployed in 27,000 stores across the country, which allows us to paint an accurate picture of the state of post-holiday returns in the United States,” said David Speights, chief statistician at The Retail Equation. “Return rates in the Midwest were higher than the rest of the country this past holiday season, which we attribute to the continued sluggish economy in the region. However, if managed properly, holiday returns offer a source of good consumer traffic for retailers’ end-of-year sales objectives.”

The Retail Equation’s predictive analytics and optimization solutions are designed to maximize retailers’ revenue during the holiday season by improving the return process and creating a positive customer shopping experience.

About The Retail Equation
The Retail Equation, headquartered in Irvine, Calif., optimizes retailers’ revenue and margin by shaping behavior in every customer transaction. The company’s solutions use predictive analytics to turn each individual shopper visit into a more profitable experience. This yields immediate financial payback, increasing store comps by as much as two percent, with significant return on investment. The Software-as-a-Service applications operate in more than 27,000 stores in North America, supporting a diverse retail base of specialty apparel, footwear, hard goods, department, big box, auto parts and more. For more information, visit www.theretailequation.com.