1、Returns,refunds&exchanges:How to stop good customers from paying the price of policy abuseGlobal insights&policy playbook 2024Contents2Executive summary 3Methodology401 The state of returns,refunds,and exchanges today602 Customers are paying the price of policy abuse1603 Behind the curtain:Why is it

2、 so challenging to get returns and refunds right?2004 How an identity8based approach can reduce abuse and drive better customer experiences2705 Take action against abuse:What should merchants do now?31Returns,refunds&exchanges:Global insights&policy playbook 20243Executive summaryHuge amounts of rev

3、enue disappear year-over-year due to fraud and abuse in returns,refunds,and exchanges.This hotbed of bad behavior includes false item-not-received(INR)claims,returning worn or damaged items,reselling goods for profit,and promotional code misuse.Policy abuse is overwhelming to three-quarters of merch

4、ants today.Abuse and fraud have evolved to become more prolific,sophisticated,and challenging to detect,driven by Dark Web forums,social media(like Instagram and Telegram networks)and malicious AI tools.Meanwhile,many of your(good)shoppers behave in ways that are actually bad for your business,compo

5、unding the problem.Offering generous returns,refund,and exchange policies to all was table stakes just a few years ago when ecommerce businesses boomed in the pandemic.Not anymore.You already struggle with squeezed profit margins due to economic volatility and declining consumer confidence.To add to

6、 that,the cost of fraud and abusive behavior is pushing everyone to reconsider returns and refund policies.This report reveals merchants are forcing customers to pay the price of policy abuse,implementing shorter grace periods to make claims,introducing returns and restocking fees,and enforcing tigh