What is a 'Returnless' return?

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The future of returns.
Welcome to the Know the Difference Minute for Tuesday, June 28th.
Retail is choking on too much stuff. Late arriving merchandise and changing consumer tastes are a problem, but returns are another.
For every dollar in sales, a retailer's net profit is between a cent to five cents. Each dollar in returned merchandise costs a retailer between 15 cents to 30 cents to handle.
That math doesn’t work. Retail consultants predict we might see an era where stores just refund the money and let the customer keep it. It’s called the ‘Returnless Return’ and Amazon’s been quietly doing it for a couple of years. Target and Walmart might be on board.
You can spot the problem a mile away. Fraud. People will game the system until retail works its way through this issue.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.